Cambridge Property Developments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09379745 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

CAMBRIDGE PROPERTY DEVELOPMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G R Ward

REGISTERED OFFICE:

Colmworth Business Park

16 Eaton Court

St Neots

Cambridgeshire

PE19 8ER

REGISTERED NUMBER:

09379745 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

75,199

104,130

Investment property

6

6,489,000

7,280,078

6,564,199

7,384,208

CURRENT ASSETS

Debtors

7

109,912

-

Cash at bank

53,378

31,809

163,290

31,809

CREDITORS

Amounts falling due within one year

8

(2,145,980

)

(162,502

)

NET CURRENT LIABILITIES

(1,982,690

)

(130,693

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,581,509

7,253,515

CREDITORS

Amounts falling due after more than one year

9

(4,029,644

)

(5,952,630

)

PROVISIONS FOR LIABILITIES

11

-

(80,750

)

NET ASSETS

551,865

1,220,135

CAPITAL AND RESERVES

Called up share capital

12

100

100

Fair value reserve

13

(363,099

)

344,250

Retained earnings

914,864

875,785

SHAREHOLDERS' FUNDS

551,865

1,220,135

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 January 2022 and were signed by:

G R Ward - Director

1.	STATUTORY INFORMATION

Cambridge Property Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is derived from rents received.

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

-

25% on cost and 20% on cost

Investment property

Investment property is measured at cost on initial recognition and then fair value at each reporting date. Fair value gains and losses are recognised in the profit and loss. Deferred taxation is provided on these gains at rates expected to apply when the property is sold.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

158,350

Additions

5,668

At 31 March 2021

164,018

DEPRECIATION

At 1 April 2020

54,220

Charge for year

34,599

At 31 March 2021

88,819

NET BOOK VALUE

At 31 March 2021

75,199

At 31 March 2020

104,130

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

7,280,078

Additions

82,192

Revaluations

(873,270

)

At 31 March 2021

6,489,000

NET BOOK VALUE

At 31 March 2021

6,489,000

At 31 March 2020

7,280,078

Fair value at 31 March 2021 is represented by:

£

Valuation in 2020

425,000

Valuation in 2021

(873,270

)

Cost

6,937,270

6,489,000

If investment properties had not been revalued they would have been included at the following historical cost:

2021

2020

£

£

Cost

6,937,270

6,855,078

The investment properties were valued on a fair value basis on 31 March 2021 by the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

109,912

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

123,682

123,682

Tax

16,314

34,026

Other creditors

2,000,000

-

Accrued expenses

5,984

4,794

2,145,980

162,502

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 1-2 years

247,364

247,364

Bank loans - 2-5 years

3,653,954

3,653,954

Directors loan accs more 1yr

128,326

2,051,312

4,029,644

5,952,630

Bank loans are secured against the Companies Investment Properties by way of a fixed charge. All Bank loans are interest only with no fixed repayment date.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

4,025,000

4,025,000

The bank loans are secured via a fixed charge over the property to which they relate.

11.	PROVISIONS FOR LIABILITIES

2020

£

Deferred tax

80,750

Deferred

tax

£

Balance at 1 April 2020

80,750

Provided during year

(165,921

)

Balance at 31 March 2021

(85,171

)

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1

Ordinary D

£1

1

1

33

Ordinary A

£1

33

33

33

Ordinary B

£1

33

33

33

Ordinary C

£1

33

33

100

100

13.

RESERVES

Fair

value

reserve

£

At 1 April 2020

344,250

fair value movement

(707,349

)

At 31 March 2021

(363,099

)

14.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The Directors Loan is unsecured, interest free with no fixed repayment date.