Cadnant Properties Limited - Accounts to registrar (filleted) - small 18.2
Cadnant Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| CADNANT PROPERTIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
| CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CADNANT PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843) |
| BALANCE SHEET |
| 31 DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment properties | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Revaluation reserve | ( |
) | ( |
) |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 5,218,123 | 5,321,770 |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director on |
| CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Cadnant Properties Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section |
| 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act |
| 2006. The financial statements have been prepared under the historical cost convention. |
| The financial statements are presented in sterling which is the functional currency of the company and |
| rounded to the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policies |
| adopted for the recognition of turnover are as follows: |
| Rental income |
| Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line |
| basis over the lease term. |
| Interest receivable |
| Interest income is recognised using the effective interest method is recognised as the company's right to |
| receive payment is established. |
| Investment properties |
| In the opinion of the director the investment property is included at an amount that accords to its fair value at |
| the balance sheet date. Revaluation deficits are initially recognised in the profit and loss account before being |
| transferred to the Revaluation reserve on the balance sheet. |
| A deferred tax asset has not been provided on the revaluation deficit as it is unlikely that any provision would |
| be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Tax |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current |
| or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates |
| and laws that have been enacted or substantively enacted by the balance sheet date. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable with one year are recorded at |
| transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
| administrative expenses. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. |
| Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
| If an arrangement constitutes a finance transaction it is measured at present value. |
| CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTIES |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2018 |
| Disposals | ( |
) |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| The historical cost of the investment property as at 31 December 2018 was £5,289,140 (2017 £5,554,016). |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Sundry debtor |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Tax |
| VAT |
| Other creditors |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Other creditors |
| CADNANT PROPERTIES LIMITED (REGISTERED NUMBER: 05266843) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| Bank loans totalling £2,470,569 (2017 £2,675,571) are partly secured against the assets of the company and a |
| charge against assets owned personally by the director. |
| Bank loans include aggregate amounts of £1,532,187 (2017 £1,709,484) which fall due after five years and |
| which are repayable by instalments. |
| Other loans include aggregate amounts of £763,413 (2017 £926,713) which fall due after five years and which |
| are repayable other than by instalments. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |