Castle Boulevard Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09341297 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2020

for

Castle Boulevard Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Wright

J E Wright

REGISTERED OFFICE:

14 Clarendon Street

Nottingham

Nottinghamshire

NG1 5HQ

REGISTERED NUMBER:

09341297 (England and Wales)

FIXED ASSETS

Investments

4

100

100

Investment property

5

11,950,000

5,550,000

11,950,100

5,550,100

CURRENT ASSETS

Debtors

6

92,526

308,314

Cash at bank and in hand

123,802

42,680

216,328

350,994

CREDITORS

Amounts falling due within one year

7

3,078,277

2,465,249

NET CURRENT LIABILITIES

(2,861,949

)

(2,114,255

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,088,151

3,435,845

CREDITORS

Amounts falling due after more than one year

8

8,156,029

2,722,899

NET ASSETS

932,122

712,946

CAPITAL AND RESERVES

Called up share capital

10

4

4

Revaluation reserve

11

197,000

197,000

Retained earnings

735,118

515,942

SHAREHOLDERS' FUNDS

932,122

712,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2021 and were signed on its behalf by:

N J Wright - Director

1.	STATUTORY INFORMATION

Castle Boulevard Holdings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company information page. The company's place of business is 179 Castle Boulevard, Nottingham, NG7 1GY.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Castle Boulevard Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents rents receivable for the period.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 September 2019

and 31 August 2020

100

NET BOOK VALUE

At 31 August 2020

100

At 31 August 2019

100

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2019

5,550,000

Additions

6,400,000

At 31 August 2020

11,950,000

NET BOOK VALUE

At 31 August 2020

11,950,000

At 31 August 2019

5,550,000

Fair value at 31 August 2020 is represented by:

£

Valuation in 2018

197,000

Cost

11,753,000

11,950,000

The directors believe that there has been no material change to the valuation of the investment property in the year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

91,908

272,624

Other debtors

618

35,690

92,526

308,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

168,587

119,051

Trade creditors

-

108

Other creditors

2,909,690

2,346,090

3,078,277

2,465,249

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

8,156,029

2,722,899

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

5,065,300

-

Repayable by instalments

Bank loans more 5 yr by instal

2,104,552

2,184,145

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

8,324,616

2,841,950

The bank loans are secured by way of a fixed and floating charge over asset of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

4

Ordinary

£1

4

4

11.

RESERVES

Revaluation

reserve

£

At 1 September 2019

and 31 August 2020

197,000

12.	RELATED PARTY DISCLOSURES

Included in other creditors at the balance sheet date is a loan of £2,523,251 (2019 - £2,038,251) which is due to a director of the company. This loan is not interest bearing.