Company No: 13625192 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.12.2022
		£
Fixed assets
Investment property	3	495,000
		495,000
Current assets
Debtors	4	1
		1
Creditors: amounts falling due within one year	5	( 388,080)
Net current liabilities		(388,079)
Total assets less current liabilities		106,921
Provision for liabilities		( 26,730)
Net assets		80,191
Capital and reserves
Called-up share capital	6	1
Profit and loss account		80,190
Total shareholder's funds		80,191

For the financial period ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of No.3 CT Limited (registered number: 13625192) were approved and authorised for issue by the Director on 17 February 2023. They were signed on its behalf by:

J Palmer Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

No.3 CT Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Taxation

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	Period from 16.09.2021 to 31.12.2022
	Number
Monthly average number of persons employed by the Company during the period, including directors	2

3. Investment property

	Investment property
	£
Valuation
As at 16 September 2021	0
Additions	388,080
Fair value movement	106,920
As at 31 December 2022	495,000

Valuation

The fair value of the company's investment property at 31 December 2022 has been arrived at on the basis of valuations carried out on that date by the Directors having recent experience in the location and category of property being valued. The comparison approach was used for all residential properties which involved reviewing recent market evidence from the sales of similar properties during the period.

4. Debtors

	31.12.2022
	£
Other debtors	1

5. Creditors: amounts falling due within one year

	31.12.2022
	£
Amounts owed to Parent undertakings	388,080

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

6. Called-up share capital

	31.12.2022
	£
Allotted, called-up and not yet paid
1 Ordinary share of £ 1.00	1

During the period, 1 ordinary share was issued at par.

7. Reserves

Included in the profit and loss account are non-distributable reserves of £80,190 representing the cumulative fair value movements on the Investment property, net of deferred tax.