Company registration number 02205877 (England and Wales)
CRAIGMERE PROPERTY DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
CRAIGMERE PROPERTY DEVELOPMENTS LIMITED
COMPANY INFORMATION
Directors
Mr P Goldberg
Mr S Goldberg
Secretary
Mr S Goldberg
Company number
02205877
Registered office
C/o Northern & Midland Holdings Ltd
Sutherland House
70-78 West Hendon Broadway
London
United Kingdom
NW9 7BT
Accountants
Azets
Titanium 1
King's Inch Place
Renfrew
Renfrewshire
United Kingdom
PA4 8WF
CRAIGMERE PROPERTY DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CRAIGMERE PROPERTY DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Stocks
100,315
100,315
Debtors
3
530,712
624,427
Cash at bank and in hand
17,602
101
648,629
724,843
Creditors: amounts falling due within one year
4
(417,071)
(494,601)
Net current assets
231,558
230,242
Capital and reserves
Called up share capital
5
20,000
20,000
Profit and loss reserves
211,558
210,242
Total equity
231,558
230,242
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 July 2023 and are signed on its behalf by:
Mr P Goldberg
Director
Company Registration No. 02205877
CRAIGMERE PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information
Craigmere Property Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o Northern & Midland Holdings Ltd, Sutherland House, 70-78 West Hendon Broadway, London, United Kingdom, NW9 7BT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Stocks
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
CRAIGMERE PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
1,030
2,200
Other debtors
529,682
615,502
Prepayments and accrued income
6,725
530,712
624,427
4
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
25,417
Other borrowings
410,273
450,273
Trade creditors
698
Corporation tax
309
788
Other taxation and social security
98
Other creditors
2,593
12,393
Accruals and deferred income
3,100
5,730
417,071
494,601
5
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
"A" Ordinary shares of £1 each
10,000
10,000
10,000
10,000
"B" Ordinary shares of £1 each
10,000
10,000
10,000
10,000
20,000
20,000
20,000
20,000
CRAIGMERE PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
6
Related party transactions
Included in other debtors is a balance due from Northern & Midland Holdings Limited of £520,000 (2021: £580,000). Interest is charged on the outstanding balance on a quarterly basis at 4.5% above the base rate and amounted to £33,580 (2021: £35,077).
Included within other creditors falling due within one year is a balance of £2,593 (2021: £3,339) due to the directors. During the year £946 (2021: £5,000) was repaid to the directors and a director paid in £200 to the company. No interest is charged and the balance is repayable on demand.