Canprop Kensington Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08247894 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2022

for

Canprop Kensington Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C J Mitchell

REGISTERED OFFICE:

Suite 1

Westbury Court

Church Road

Westbury on Trym

Bristol

BS9 3EF

REGISTERED NUMBER:

08247894 (England and Wales)

ACCOUNTANTS:

Wills Bingley Limited

Chartered Accountants

St Denys House

22 East Hill

St. Austell

Cornwall

PL25 4TR

CURRENT ASSETS

Debtors

4

9,000

17,225

Cash at bank

151,222

32,237

160,222

49,462

CREDITORS

Amounts falling due within one year

5

11,201

850

NET CURRENT ASSETS

149,021

48,612

TOTAL ASSETS LESS CURRENT LIABILITIES

149,021

48,612

CREDITORS

Amounts falling due after more than one year

6

2,022,589

2,037,589

NET LIABILITIES

(1,873,568

)

(1,988,977

)

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

1,422,775

1,422,775

Retained earnings

(3,296,443

)

(3,411,852

)

(1,873,568

)

(1,988,977

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2022 and were signed by:

C J Mitchell - Director

1.	STATUTORY INFORMATION

Canprop Kensington 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.

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.

The Financial Statements have been prepared under the Going Concern Concept as the shareholder has agreed not to recall the loan within the next 12 months.

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.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.

DEBTORS

31/7/22

31/7/21

£

£

Amounts falling due within one year:

Trade debtors

9,000

-

Other debtors

-

2,225

9,000

2,225

Amounts falling due after more than one year:

Other debtors

-

15,000

Aggregate amounts

9,000

17,225

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/22

31/7/21

£

£

Taxation and social security

7,501

-

Other creditors

3,700

850

11,201

850

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/7/22

31/7/21

£

£

Other creditors

2,022,589

2,037,589

7.	RELATED PARTY TRANSACTIONS

The company is controlled by Mr M R Cannon, who owns 100% of the issued share capital. Included under creditors (note 6) is an amount due to the Shareholder Mr M R Cannon of £2,022,589 (2021 £2,037,589). This sum is made available to the company on interest free terms with no fixed repayment date. No further transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.