Company registration number 05132961 (England and Wales)
9CW04 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
9CW04 LIMITED
COMPANY INFORMATION
Directors
Mr A M Holt
Mrs V Hargreaves
Secretary
Mrs V Hargreaves
Company number
05132961
Registered office
Pendle Court
and business address
Unit 4, Shuttleworth Mead Business Park
Mead Way
Padiham
Burnley
Lancashire
BB12 7NG
Auditor
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
9CW04 LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
9CW04 LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
4
5,125
5,125
Investment properties
5
11,606,791
11,606,791
11,611,916
11,611,916
Current assets
Debtors
6
4,248
74,912
Cash at bank and in hand
794,480
181,639
798,728
256,551
Creditors: amounts falling due within one year
7
(782,316)
(734,136)
Net current assets/(liabilities)
16,412
(477,585)
Total assets less current liabilities
11,628,328
11,134,331
Creditors: amounts falling due after more than one year
8
(5,235,200)
(5,572,715)
Provisions for liabilities
(271,489)
(215,097)
Net assets
6,121,639
5,346,519
Capital and reserves
Called up share capital
9
180
180
Revaluation reserve
890,859
947,251
Profit and loss reserves
5,230,600
4,399,088
Total equity
6,121,639
5,346,519
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
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 27 September 2022 and are signed on its behalf by:
Mr A M Holt
Director
Company Registration No. 05132961
9CW04 LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2020
180
1,132,751
3,677,656
4,810,587
Year ended 31 December 2020:
Profit and total comprehensive income for the year
-
-
535,932
535,932
Transfers
-
185,500
185,500
Other movements
-
(185,500)
-
(185,500)
Balance at 31 December 2020
180
947,251
4,399,088
5,346,519
Year ended 31 December 2021:
Profit and total comprehensive income for the year
-
-
775,120
775,120
Transfers
-
56,392
56,392
Other movements
-
(56,392)
-
(56,392)
Balance at 31 December 2021
180
890,859
5,230,600
6,121,639
9CW04 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information
9CW04 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendle Court, Unit 4, Shuttleworth Mead Business Park, Mead Way, Padiham, Burnley, Lancashire, BB12 7NG.
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 a
mounts
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 investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is dependent upon the ongoing support of its bankers.
true
The directors are not aware of any reasons as to why the bank will not continue to support the company for the foreseeable future.
The directors therefore consider that in preparing the financial statements they have taken into account all the information that could reasonably be expected to be available.
On this basis, they consider that it is appropriate to prepare the financial statements on the going concern basis.
1.3
Turnover
Turnover represents
rent receivable net of VAT.
1.4
Intangible fixed assets other than goodwill
Trademarks are stated at cost. They are not amortised but are reviewed annually for any impairment.
1.5
Investment properties
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 attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
The surplus or deficit on revaluation is recognised in profit or loss
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
1.6
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.
9CW04 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally 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.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method 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.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, 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
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.8
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.
9CW04 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
1.9
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
9CW04 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
4
Intangible fixed assets
Other
£
Cost
At 1 January 2021 and 31 December 2021
5,125
Amortisation and impairment
At 1 January 2021 and 31 December 2021
Carrying amount
At 31 December 2021
5,125
At 31 December 2020
5,125
5
Investment property
2021
£
Fair value
At 1 January 2021 and 31 December 2021
11,606,791
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2021
2020
£
£
Cost
10,480,966
10,480,966
Accumulated depreciation
-
-
Carrying amount
10,480,966
10,480,966
6
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
1,288
6,325
Amounts owed by group undertakings
1,700
1,700
Other debtors
1,260
66,887
4,248
74,912
9CW04 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
7
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
324,214
313,277
Trade creditors
100,880
2,808
Corporation tax
193,045
162,720
Other taxation and social security
43,036
91,898
Other creditors
121,141
163,433
782,316
734,136
8
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
5,235,200
5,572,715
The bank loans are secured by first legal charges over the company's investment properties and by an unlimited debenture over the company's assets.
Creditors which fall due after five years are as follows:
2021
2020
£
£
Payable by instalments
746,797
1,071,429
9
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
108 Ordinary A Shares of £1 each
108
108
18 Ordinary B Shares of £1 each
18
18
18 Ordinary C Shares of £1 each
18
18
36 Ordinary D Shares of £1 each
36
36
180
180
All classes of shares in issue rank pari passu in all respects.
9CW04 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 8 -
10
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was Linda Wilkinson.
The auditor was Pierce C A Limited.
11
Parent company
The company is a subsidiary of 9CW04 Holdings Limited, a company registered in England and Wales.
2021-12-31
2021-01-01
false
27 September 2022
CCH Software
CCH Accounts Production 2022.200
No description of principal activity
This audit opinion is unqualified
Mr A M Holt
Mrs V Hargreaves
Mrs V Hargreaves
Linda Wilkinson
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