Homes CW Property Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11366927 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2021

for

Homes CW Property Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Takiar

C J Whiteside

REGISTERED OFFICE:

Suite 6a Hadfield House

Gordon Street

Stockport

SK4 1RR

REGISTERED NUMBER:

11366927 (England and Wales)

ACCOUNTANTS:

Hammond McNulty LLP

Bank House

Market Square

Congleton

Cheshire

CW12 1ET

FIXED ASSETS

Tangible assets

4

314

392

Investment property

5

385,100

750,001

385,414

750,393

CURRENT ASSETS

Debtors

51,463

50,000

Cash at bank and in hand

131,804

10,815

183,267

60,815

CREDITORS

Amounts falling due within one year

262,325

257,668

NET CURRENT LIABILITIES

(79,058

)

(196,853

)

TOTAL ASSETS LESS CURRENT LIABILITIES

306,356

553,540

CREDITORS

Amounts falling due after more than one year

6

(274,216

)

(503,000

)

PROVISIONS FOR LIABILITIES

(17,804

)

(17,804

)

NET ASSETS

14,336

32,736

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

87,738

87,738

Retained earnings

(74,402

)

(56,002

)

14,336

32,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 15th September 2022 and were signed on its behalf by:

N Takiar - Director

1.	STATUTORY INFORMATION

Homes CW Property Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

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.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2021

and 31st December 2021

600

DEPRECIATION

At 1st January 2021

208

Charge for year

78

At 31st December 2021

286

NET BOOK VALUE

At 31st December 2021

314

At 31st December 2020

392

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2021

750,001

Additions

5,074

Disposals

(369,975

)

At 31st December 2021

385,100

NET BOOK VALUE

At 31st December 2021

385,100

At 31st December 2020

750,001

Fair value at 31st December 2021 is represented by:

£

Valuation in 2019

112,442

Valuation in 2020

(6,900

)

Cost

279,558

385,100

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31/12/21

31/12/20

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

238,000

-

Repayable by instalments

Bank loans more 5 yr by instal

16,684

-