REGISTERED NUMBER:
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Concrete Canvas Properties Limited |
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Financial Statements for the Year Ended 31 August 2022 |
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REGISTERED NUMBER:
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Concrete Canvas Properties Limited |
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Financial Statements for the Year Ended 31 August 2022 |
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Concrete Canvas Properties Limited (Registered number: 08391538) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Concrete Canvas Properties Limited |
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Company Information |
for the Year Ended 31 August 2022 |
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Directors: |
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Registered office: |
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Registered number: |
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Auditors: |
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7 Neptune Court |
Vanguard Way |
Cardiff |
CF24 5PJ |
Concrete Canvas Properties Limited (Registered number: 08391538) |
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Balance Sheet |
31 August 2022 |
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2022 | 2021 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Investment property | 5 |
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Current assets |
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 liabilities | ( |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
Called up share capital | 8 |
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Retained earnings |
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Shareholders' funds |
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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 Board of Directors and authorised for issue on
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Concrete Canvas Properties Limited (Registered number: 08391538) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2022 |
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1. | Statutory information |
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Concrete Canvas Properties Limited is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Going concern |
The financial statements have not been prepared on a going concern basis as it is the intention of the directors to wind up the company. In accordance with this, the directors have not prepared the financial statements on a going concern basis. No adjustments were necessary to the amounts recorded in the financial statements as at 31 August 2022. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
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Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. |
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If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. |
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Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. |
Concrete Canvas Properties Limited (Registered number: 08391538) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2022 |
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2. | Accounting policies - continued |
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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. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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 |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
Cost |
At 1 September 2021 |
and 31 August 2022 |
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Depreciation |
At 1 September 2021 |
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Charge for year |
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At 31 August 2022 |
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Net book value |
At 31 August 2022 |
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At 31 August 2021 |
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Included in cost of land and buildings is freehold land of £ 1,125,000 (2021 - £ 1,125,000 ) which is not depreciated. |
Concrete Canvas Properties Limited (Registered number: 08391538) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2022 |
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5. | Investment property |
Total |
£ |
Fair value |
At 1 September 2021 |
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Disposals | ( |
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At 31 August 2022 |
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Net book value |
At 31 August 2022 |
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At 31 August 2021 |
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6. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
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7. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
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Accrued expenses |
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8. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary shares of £0.001 | 958.0 | 0 | 958 | 958 |
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9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | Ultimate controlling party |
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The parent company is Concrete Canvas Group Limited. A copy of the group accounts can be found on Companies House. |