ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

CEDAR (REAL ESTATE) LTD - Company Information

Print Friendly Version

Caseware UK (AP4) 2020.0.247 2020.0.247 2021-03-312021-03-312021-05-06No description of principal activityfalse2true22020-04-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC551418 2020-04-01 2021-03-31 SC551418 2021-03-31 SC551418 2019-04-01 2020-03-31 SC551418 2020-03-31 SC551418 c:Director1 2020-04-01 2021-03-31 SC551418 d:CurrentFinancialInstruments 2021-03-31 SC551418 d:CurrentFinancialInstruments 2020-03-31 SC551418 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 SC551418 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 SC551418 d:ShareCapital 2021-03-31 SC551418 d:ShareCapital 2020-03-31 SC551418 d:RetainedEarningsAccumulatedLosses 2021-03-31 SC551418 d:RetainedEarningsAccumulatedLosses 2020-03-31 SC551418 c:OrdinaryShareClass1 2020-04-01 2021-03-31 SC551418 c:OrdinaryShareClass1 2021-03-31 SC551418 c:OrdinaryShareClass1 2020-03-31 SC551418 c:FRS102 2020-04-01 2021-03-31 SC551418 c:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 SC551418 c:FullAccounts 2020-04-01 2021-03-31 SC551418 c:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 SC551418 2 2020-04-01 2021-03-31 SC551418 6 2020-04-01 2021-03-31 xbrli:shares iso4217:GBP xbrli:pure

Company Registration Number SC551418























CEDAR (REAL ESTATE) LTD





UNAUDITED
FINANCIAL STATEMENTS





 31 MARCH 2021























img699d.png
 
CEDAR (REAL ESTATE) LTD
REGISTERED NUMBER: SC551418

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2021

2021
2020
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
928
17,111

Cash at bank and in hand
  
2,645
14,051

  
3,573
31,162

Creditors: amounts falling due within one year
 5 
(2,000)
(17,128)

Net current assets
  
 
 
1,573
 
 
14,034

Total assets less current liabilities
  
1,573
14,034

  

Net assets
  
1,573
14,034


Capital and reserves
  

Called up share capital 
 6 
2
2

Profit and loss account
  
1,571
14,032

  
1,573
14,034


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 the 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: 




................................................
Alan Maxwell MacBeth
Director

Date: 6 May 2021

The notes on pages 2 to 4 form part of these financial statements.

Page 1
 
CEDAR (REAL ESTATE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

1.


General information

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 Pounds Sterling as this is the currency of the primary economic environment in which the company operates.

2.Accounting policies

 
2.1

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the impact of the COVID-19 virus when preparing these financial statements. The likely impact that this will have in the coming year has been assessed and this has been incorporated into the plans for the business. As a result of this, the directors have concluded that it continues to be appropriate to present the accounts on a Going Concern basis.

 
2.3

Revenue

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 2
 
CEDAR (REAL ESTATE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

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.

 
2.8

Creditors

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.

 
2.9

Financial instruments

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 ordinary shares.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 3
 
CEDAR (REAL ESTATE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

4.


Debtors

2021
2020
£
£


Other debtors
928
17,111

928
17,111



5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Corporation tax
-
13,393

Accruals and deferred income
2,000
3,735

2,000
17,128



6.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



2 (2020 - 2) Ordinary shares of £1.00 each
2
2



Page 4