REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2022 |
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CORDEL PROPERTY LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2022 |
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FOR |
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CORDEL PROPERTY LTD |
CORDEL PROPERTY LTD (REGISTERED NUMBER: 12423710) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CORDEL PROPERTY LTD |
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COMPANY INFORMATION |
for the Year Ended 31 January 2022 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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20 Paradise Square |
Sheffield |
S1 2DE |
CORDEL PROPERTY LTD (REGISTERED NUMBER: 12423710) |
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BALANCE SHEET |
31 January 2022 |
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31.1.22 | 31.1.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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CORDEL PROPERTY LTD (REGISTERED NUMBER: 12423710) |
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BALANCE SHEET - continued |
31 January 2022 |
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The director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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CORDEL PROPERTY LTD (REGISTERED NUMBER: 12423710) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2022 |
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1. | STATUTORY INFORMATION |
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Cordel Property Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover income recognition |
Turnover represents rents and management charges received in respect of properties let. Revenue is recognised upon the satisfactory completion of the contract. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on reducing balance |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
CORDEL PROPERTY LTD (REGISTERED NUMBER: 12423710) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and are depreciated over their estimated useful lives.The interest element of these obligations is charged to the profit and loss account over the relevant period.The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 February 2021 |
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Additions |
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Disposals | ( |
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At 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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CORDEL PROPERTY LTD (REGISTERED NUMBER: 12423710) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 February 2021 |
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Additions |
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Transfer to ownership | (13,194 | ) |
At 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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Transfer to ownership | (274 | ) |
At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 February 2021 |
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Reclassification/transfer | (5,841 | ) |
At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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The investment property was reclassified as a direct cost of the company during the year. |
CORDEL PROPERTY LTD (REGISTERED NUMBER: 12423710) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans | - | 3,333 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.1.22 | 31.1.21 |
£ | £ |
Hire purchase contracts | 64,606 | 10,689 |
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Hire purchase and finance leases are secured upon the asset to which the contract relates. |
CORDEL PROPERTY LTD (REGISTERED NUMBER: 12423710) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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10. | CAPITAL COMMITMENTS |
31.1.22 | 31.1.21 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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11. | RELATED PARTY DISCLOSURES |
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During the year the company received interest free loans from Spacesavers Logistics Limited and Milluna Living Limited |
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J Hanotou is a shareholder in both of these companies and a director of Spacesavers Logistics Limited. |
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The amounts due on these loans at 31 January 2022 are shown below |
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Spacesavers Logistics Limited | £48,795 | (2021 £48,795) |
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Milluna Living Limited | £NIl | (2021 £34,999) |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is J Hanotu. |