C J Pilgrim Properties Limited - Accounts to registrar (filleted) - small 18.2

C J Pilgrim Properties Limited - Accounts to registrar (filleted) - small 18.2

C.J. PILGRIM PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 00643429 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

C J PILGRIM PROPERTIES LIMITED
C J PILGRIM PROPERTIES LIMITED (REGISTERED NUMBER: 00643429)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


C J PILGRIM PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTORS: R I Dudding
Mrs J C Ancell





SECRETARY: Mrs J C Ancell





REGISTERED OFFICE: Lonsto House
276 Chase Road
London
N14 6HA





REGISTERED NUMBER: 00643429 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS
Page 1
C J PILGRIM PROPERTIES LIMITED (REGISTERED NUMBER: 00643429)

BALANCE SHEET
31 MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,710,529 33,217,500

CURRENT ASSETS
Debtors 5 4,870,064 5,230,662
Cash at bank 237,463 352,868
5,107,527 5,583,530
CREDITORS
Amounts falling due within one year 6 259,510 532,048
NET CURRENT ASSETS 4,848,017 5,051,482
TOTAL ASSETS LESS CURRENT
LIABILITIES
38,558,546
38,268,982

PROVISIONS FOR LIABILITIES 1,509,511 1,768,126
NET ASSETS 37,049,035 36,500,856

CAPITAL AND RESERVES
Called up share capital 60,200 60,200
Share premium 15,300 15,300
Retained earnings 36,973,535 36,425,356
SHAREHOLDERS' FUNDS 37,049,035 36,500,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 4 October 2018 and were signed on its behalf by:



R I Dudding - Director


The notes form part of these financial statements

Page 2
C J PILGRIM PROPERTIES LIMITED (REGISTERED NUMBER: 00643429)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1. STATUTORY INFORMATION

C J Pilgrim Properties 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable from external customers at invoiced amounts less value added tax. Rental
income is recognised in the period to which it relates.

Tangible fixed assets
The freehold property is held in the financial statements at market value.

In accordance with the Financial Reporting Standard 102 Section 1A 'Small Entities', no depreciation is provided
in respect of freehold properties. This is a departure from the requirements of the Companies Act 2006 which
requires all properties to be depreciated. Such properties are revalued and the directors consider that to
depreciate them would not give a true and fair value.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets.
Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful
lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases
are those where substantially all of the benefits and risks of ownership are assumed by the company.
Obligations under such agreements are included in creditors net of the finance charge allocated to future
periods. The finance element of the rental payment is charged to the profit and loss account so as to
produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain
with the lessor are charged to profit and loss account on a straight line basis.

Page 3 continued...
C J PILGRIM PROPERTIES LIMITED (REGISTERED NUMBER: 00643429)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

2. ACCOUNTING POLICIES - continued

Going concern
The directors constantly review the cash flow projections for the company and have considered the financial
resources of the company, having regard to the renewal date of the loan facilities and additional resources
available to related undertakings to support the related party indebtedness.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference
and non-puttable ordinary shares which are measured at fair value, with changes recognised in the income
statement. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes
recognised in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2017 - 26 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 April 2017 33,217,500
Additions 493,029
At 31 March 2018 33,710,529
NET BOOK VALUE
At 31 March 2018 33,710,529
At 31 March 2017 33,217,500

The 2018 valuations were made by R I Dudding, a director of the company, on an open market value for existing
use basis.

Mr R I Dudding is qualified to make the valuation on the basis of his knowledge and experience of the residential
and commercial property market.

The assets in this company are used as security for the bank loan in the company's parent company C J Pilgrim
(Holdings) Ltd.

Cost or valuation at 31 March 2018 is represented by:

Land and
buildings
£   
Valuation in 2016 16,652,104
Valuation in 2017 12,525,433
Cost 4,532,992
33,710,529

Page 4 continued...
C J PILGRIM PROPERTIES LIMITED (REGISTERED NUMBER: 00643429)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 75,943 52,928
Amounts owed by group undertakings 4,760,853 5,169,694
Other debtors 33,268 8,040
4,870,064 5,230,662

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 1,808 21,173
Taxation and social security - 246,225
Other creditors 257,702 264,650
259,510 532,048

7. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party are the Trustees of R I Dudding Settlement of 1 July 1997 by virtue of
its controlling shareholding in C J Pilgrim (Holdings) Limited.

8. PARENT UNDERTAKING

The immediate and ultimate parent undertaking is C J Pilgrim (Holdings) Limited.

9. RETAINED EARNINGS

Included in retained earnings is £27,797,780 (2017: £29,290,051) of profits that are not available for distribution
as they are unrealised.

Page 5