General Information
CAVENDISH TRADING LTD is a private company, limited by shares, registered in England, registration number 12525804, registration address 10 Cameron Road, Ilford, IG3 8LA
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
|
| 2. |
Average number of employees
Average number of employees during the year was 3.
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Investment properties |
|
Total |
| |
£ |
|
£ |
| At 01 April 2020 |
- |
|
- |
| Additions |
1,036,030 |
|
1,036,030 |
| Disposals |
- |
|
- |
| Revaluations |
123,970 |
|
123,970 |
| At 31 March 2021 |
1,160,000 |
|
1,160,000 |
| Depreciation |
| At 01 April 2020 |
- |
|
- |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 31 March 2021 |
- |
|
- |
| Net book values |
| Closing balance as at 31 March 2021 |
1,160,000 |
|
1,160,000 |
| Opening balance as at 01 April 2020 |
- |
|
- |
|
| 4. |
Debtors: amounts falling due within one year
|
2021
£ |
| Trade Debtors |
566 |
|
566 |
|
| 4. |
Debtors: amounts falling due after one year
|
2021
£ |
| Directors Loan Accounts |
(260,910) |
|
(260,910) |
|
| 5. |
Creditors: amount falling due after more than one year
|
2021
£ |
| Trade Creditors |
826,950 |
| Other Creditors |
143,100 |
|
970,050 |
|
| 6. |
Share Capital
Allotted, called up and fully paid
|
2021
£ |
|
50
Class A shares of £1.00 each |
50 |
|
50 |
|
| 7. |
Reserves
|
2021
£ |
| Revaluation of Fixed Assets |
100,416 |
| Deferred Tax Provided on Revaluation |
23,554 |
|
123,970 |
|
2
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