|
Company Registration Number SC551418
|
|
|
|
|
|
|
|
|
|
UNAUDITED
FINANCIAL STATEMENTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CEDAR (REAL ESTATE) LTD
REGISTERED NUMBER: SC551418
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 1
|
|
CEDAR (REAL ESTATE) LTD
REGISTERED NUMBER: SC551418
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2019
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 6 form part of these financial statements.
Page 2
|
|
CEDAR (REAL ESTATE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
Cedar (Real Estate) Ltd is a private company, limited by shares, registered in Scotland. The company's registered office address and principal place of business is 24 Blythswood Square, Glasgow, G2 4BG.
The financial statements are presented in pound sterling as this is the currency of the primary economic environment in which the company operates.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.These are the amended financial statements and now represent the statutory accounts.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis of accounting. As at 31 March 2019 the company had net liabilities of £35,355.
The directors have evaluated the company's forecast trading and cashflows for the 12 month period subsequent to the date of signing these accounts and have concluded that it is appropriate to prepare them on a going concern basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.
All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.
Page 3
|
|
CEDAR (REAL ESTATE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
2.Accounting policies (continued)
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Work in progress comprises of direct costs for incomplete projects.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
|
|
The average monthly number of employees, including directors, during the year was 2 (2018 - 2).
|
Page 4
|
|
CEDAR (REAL ESTATE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
|
|
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of the maturity of loans is given below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
2 (2018 - 2) Ordinary shares of £1.00 each
|
|
|
Page 5
|
|
CEDAR (REAL ESTATE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
|
|
Related party transactions
|
|
|
As at 31 March 2019, an associated company owed £899 to Cedar (Real Estate) Ltd (2018: £1 was owed to the associated company).
As at 31 March 2019, the directors were owed £212,130 (2018 : £39,699) by Cedar (Real Estate) Ltd.
During the year ended 31 March 2019, Cedar (Real Estate) Ltd was a member of Hindley Cedar (Glasgow) Homes LLP and profit share income was received in this capacity.
|
|
|
Post balance sheet events
|
Cedar Blythswood Ltd, an associated company, was dissolved on 25 June 2019.
Cedar (Real Estate) Ltd resigned as a member of Hindley Cedar (Glasgow) Homes LLP on 26 July 2019.
Page 6
|
