ACCOUNTS - Final Accounts

CINNAMON FREEHOLD LIMITED - Company Information

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Registered number: 03127281

Cinnamon Freehold Limited

Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2018

Cinnamon Freehold Limited

Registered number: 03127281

Balance sheet

As at 31 December 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	4		127,967		142,848
			127,967		142,848
Current assets
Debtors: amounts falling due within one year	5	9,176		9,176
Cash at bank and in hand		470,817		393,082
		479,993		402,258
Creditors: amounts falling due within one year	6	(42,403)		(18,530)
Net current assets			437,590		383,728
Total assets less current liabilities			565,557		526,576

Net assets			565,557		526,576

Capital and reserves
Called up share capital	422	422
Other reserves	250,957	250,957
Profit and loss account	314,178	275,197
	565,557	526,576

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 profit and loss account 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 on 30 September 2019.

................................................

J E Laver

Director

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

Page 1

Cinnamon Freehold Limited

Notes to the financial statements

For the year ended 31 December 2018

1.	General information

Cinnamon Freehold Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The company's principal activity is that of buying and selling of own real estate.

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

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.

2.3

Taxation

Tax is recognised in the Profit and loss account, 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 balance sheet date in the countries where the Company operates and generates income.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

Cinnamon Freehold Limited

Notes to the financial statements

For the year ended 31 December 2018

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

The estimated useful lives range as follows:

Land and buildings

not provided.

In the opinion of the directors the cost of the freehold property accurately reflects its market value and for this reason it is not deppreciated.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.7

Creditors

Short term creditors are measured at the transaction price.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2017 - £NIL).

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	At 1 January 2018	142,848
	Disposals	(14,881)
	At 31 December 2018	127,967

	Net book value
	At 31 December 2018	127,967
	At 31 December 2017	142,848

Page 3

Cinnamon Freehold Limited

Notes to the financial statements

For the year ended 31 December 2018

4.Tangible fixed assets (continued)

The net book value of land and buildings may be further analysed as follows:
	2018	2017
	£	£

Freehold	127,967	142,848
	127,967	142,848

Debtors

					2018	2017
					£	£


Amounts owed by group undertakings	9,168	9,168
Other debtors	8	8
	9,176	9,176

6.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	5,800	-
Other creditors	35,053	18,530
Accruals and deferred income	1,550	-
	42,403	18,530

Related party transactions

The company maintains a current account with Cinnamon Wharf Service Charge, which is maintained by the associated residents' management company, Cinnamon Wharf Limited. During the year Cinnamon Wharf Service Charge demanded ground rents of £3,029 (2017: £2,309) and collected ground rents of £3,029 (2017: £2,309). The balance outstanding at the year end was £9,168 (2017: £9,168). No interest is charged on the amount due from Cinnamon Wharf Service Charge and there are no fixed terms of repayment.

Page 4