Cardigan Estate Limited
Cardigan Estate Limited
Registered number: 01093528
Financial Statements
For The Year Ended 31 October 2018
Cardigan Estate Limited
Financial Statements
For The Year Ended 31 October 2018
Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Cardigan Estate Limited
Balance Sheet
As at
31 October 2018
Balance Sheet
Registered number:
01093528
For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 31 October 2018 | Period to 31 October 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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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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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 7,209,913 | 7,273,319 | |||
Page 1
Cardigan Estate Limited
Balance Sheet (continued)
As at
31 October 2018
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Cardigan Estate Limited
Notes to the Financial Statements
For The Year Ended 31 October 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rent receivable.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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1.4.
Stocks and Work in Progress
Stocks are measured at the lower of cost and estimated selling price less cost to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
1.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2017: 2)
Page 3
Cardigan Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2018
4.
Tangible Assets
| Plant & Machinery | |
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| £ | |
| Cost | |
| As at |
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| Depreciation | |
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| Provided during the period |
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| Net Book Value | |
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5.
Stocks
| 31 October 2018 | Period to 31 October 2017 | ||
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| Stock |
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6.
Debtors
| 31 October 2018 | Period to 31 October 2017 | ||
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| Due within one year | |||
| Other debtors |
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| Amounts owed by group undertakings |
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Page 4
Cardigan Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2018
7.
Creditors: Amounts Falling Due Within One Year
| 31 October 2018 | Period to 31 October 2017 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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The bank overdrafts are secured on the company's assets and undertakings.
8.
Creditors: Amounts Falling Due After More Than One Year
| 31 October 2018 | Period to 31 October 2017 | ||
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| Bank loans |
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The bank loans are secured on the company's assets and undertakings.
10.
Ultimate Controlling Party
The entire share capital of the company is owned by Cardigan Group Limited, a company incorporated in England.
11.
General Information
Cardigan Estate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01093528 . The registered office is Flat 22, 34 Sloane Court West, London, SW3 4TB.
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