Conran Properties Limited 30/08/2023 iXBRL

Conran Properties Limited 30/08/2023 iXBRL

CONRAN PROPERTIES LIMITED - Company Information

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Company registration number: 08636536
Conran Properties Limited
Unaudited filleted financial statements
30 August 2023
Conran Properties Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Conran Properties Limited
Directors and other information
Directors Mr Hanbal Chaudry
Dr Kashif Syed
Mrs Shaheen Chaudry
Dr Kashif Sobia
Company number 08636536
Registered office 14 Sheepfoot Lane
Prestwich
Manchester
England
M25 0BN
Accountants Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
Conran Properties Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Conran Properties Limited
Year ended 30 August 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 August 2023 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
24 May 2024
Conran Properties Limited
Statement of financial position
30 August 2023
30/08/23 30/08/22
Note £ £ £ £
Fixed assets
Tangible assets 4 730,893 727,644
_______ _______
730,893 727,644
Current assets
Debtors 5 7,000 7,000
Cash at bank and in hand 9,241 8,381
_______ _______
16,241 15,381
Creditors: amounts falling due
within one year 6 ( 26,977) ( 25,297)
_______ _______
Net current liabilities ( 10,736) ( 9,916)
_______ _______
Total assets less current liabilities 720,157 717,728
Creditors: amounts falling due
after more than one year 7 ( 411,972) ( 443,417)
_______ _______
Net assets 308,185 274,311
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 308,175 274,301
_______ _______
Shareholders funds 308,185 274,311
_______ _______
For the year ending 30 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 May 2024 , and are signed on behalf of the board by:
Dr Kashif Syed
Director
Company registration number: 08636536
Conran Properties Limited
Statement of changes in equity
Year ended 30 August 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2021 10 240,541 240,551
Profit for the year 33,760 33,760
_______ _______ _______
Total comprehensive income for the year - 33,760 33,760
_______ _______ _______
At 30 August 2022 and 31 August 2022 10 274,301 274,311
Profit for the year 33,874 33,874
_______ _______ _______
Total comprehensive income for the year - 33,874 33,874
_______ _______ _______
At 30 August 2023 10 308,175 308,185
_______ _______ _______
Conran Properties Limited
Notes to the financial statements
Year ended 30 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Sheepfoot Lane, Prestwich, Manchester, England, M25 0BN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 31 August 2022 722,207 7,250 729,457
Additions - 5,900 5,900
_______ _______ _______
At 30 August 2023 722,207 13,150 735,357
_______ _______ _______
Depreciation
At 31 August 2022 - 1,813 1,813
Charge for the year - 2,651 2,651
_______ _______ _______
At 30 August 2023 - 4,464 4,464
_______ _______ _______
Carrying amount
At 30 August 2023 722,207 8,686 730,893
_______ _______ _______
At 30 August 2022 722,207 5,437 727,644
_______ _______ _______
5. Debtors
30/08/23 30/08/22
£ £
Other debtors 7,000 7,000
_______ _______
6. Creditors: amounts falling due within one year
30/08/23 30/08/22
£ £
Corporation tax 9,099 7,255
Other creditors 17,878 18,042
_______ _______
26,977 25,297
_______ _______
7. Creditors: amounts falling due after more than one year
30/08/23 30/08/22
£ £
Bank loans and overdrafts 411,972 443,417
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Year ended 30/08/23
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Hanbal Chaudry ( 6,303) - ( 6,303)
Dr Kashif Syed ( 5,767) ( 4,000) ( 9,767)
_______ _______ _______
( 12,070) ( 4,000) ( 16,070)
_______ _______ _______
Period ended 30/08/22
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Hanbal Chaudry ( 6,303) - ( 6,303)
Dr Kashif Syed ( 5,767) - ( 5,767)
_______ _______ _______
( 12,070) - ( 12,070)
_______ _______ _______