Cedar House Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11691263 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CEDAR HOUSE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr R J Colton

Mrs L E Colton-Smith

REGISTERED OFFICE:

1 Hockey Close

Loughborough

Leicestershire

LE11 5GX

REGISTERED NUMBER:

11691263 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2

Charnwood Edge Business Park

Syston Road

Leicester

LE7 4UZ

FIXED ASSETS

Tangible assets

4

-

389,903

Investment property

5

5,621,744

4,750,000

5,621,744

5,139,903

CURRENT ASSETS

Debtors

6

3,025

54,682

Cash at bank

2,452

24,168

5,477

78,850

CREDITORS

Amounts falling due within one year

7

(3,526,054

)

(3,369,652

)

NET CURRENT LIABILITIES

(3,520,577

)

(3,290,802

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,101,167

1,849,101

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

1,025,154

1,025,154

Retained earnings

1,075,913

823,847

SHAREHOLDERS' FUNDS

2,101,167

1,849,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 May 2024 and were signed on its behalf by:

Mr R J Colton - Director

1.	STATUTORY INFORMATION

Cedar House Properties Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is 1 Hockey Close, Loughborough, Leicester, LE11 5GX and the registered number is 11691263.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts receivable for rental income.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly related attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and 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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Assets

under

construction

£

COST

At 1 January 2023

389,903

Additions

481,841

Disposals

(871,744

)

At 31 December 2023

-

NET BOOK VALUE

At 31 December 2023

-

At 31 December 2022

389,903

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2023

4,750,000

Additions

871,744

At 31 December 2023

5,621,744

NET BOOK VALUE

At 31 December 2023

5,621,744

At 31 December 2022

4,750,000

The investment property has been valued by the director at the year end on an open market value.

Cost or valuation at 31 December 2023 is represented by:

£

Valuation in 2022

1,025,154

Cost

4,596,590

5,621,744

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

3,025

54,682

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

-

10,774

Tax

61,035

53,803

VAT

17,889

-

Other creditors

1,480,000

778,000

Directors' current accounts

1,966,000

2,526,000

Accruals and deferred income

1,130

1,075

3,526,054

3,369,652