Cameron Landscapes Limited 31/08/2019 iXBRL

Cameron Landscapes Limited 31/08/2019 iXBRL

CAMERON LANDSCAPES LIMITED - Company Information

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31/08/2019 2019-08-31 false false false false false false false false false false true false false true false false false false false true true false No description of principal activities is disclosed 2018-09-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP NI008655 2018-09-01 2019-08-31 NI008655 2019-08-31 NI008655 2018-08-31 NI008655 2017-09-01 2018-08-31 NI008655 2018-08-31 NI008655 2017-08-31 NI008655 core:LandBuildings core:OwnedOrFreeholdAssets 2018-09-01 2019-08-31 NI008655 core:PlantMachinery 2018-09-01 2019-08-31 NI008655 core:FurnitureFittingsToolsEquipment 2018-09-01 2019-08-31 NI008655 core:MotorVehicles 2018-09-01 2019-08-31 NI008655 core:OnerousContractsExcludingVacantProperties 2018-09-01 2019-08-31 NI008655 bus:RegisteredOffice 2018-09-01 2019-08-31 NI008655 bus:LeadAgentIfApplicable 2018-09-01 2019-08-31 NI008655 bus:Director1 2018-09-01 2019-08-31 NI008655 bus:Director2 2018-09-01 2019-08-31 NI008655 bus:Director3 2018-09-01 2019-08-31 NI008655 bus:CompanySecretary1 2018-09-01 2019-08-31 NI008655 core:WithinOneYear 2019-08-31 NI008655 core:WithinOneYear 2018-08-31 NI008655 core:LandBuildings core:OwnedOrFreeholdAssets 2018-08-31 NI008655 core:LandBuildings core:ShortLeaseholdAssets 2018-08-31 NI008655 core:PlantMachinery 2018-08-31 NI008655 core:FurnitureFittingsToolsEquipment 2018-08-31 NI008655 core:MotorVehicles 2018-08-31 NI008655 core:LandBuildings core:OwnedOrFreeholdAssets 2019-08-31 NI008655 core:LandBuildings core:ShortLeaseholdAssets 2019-08-31 NI008655 core:PlantMachinery 2019-08-31 NI008655 core:FurnitureFittingsToolsEquipment 2019-08-31 NI008655 core:MotorVehicles 2019-08-31 NI008655 core:DeferredTaxation 2018-09-01 2019-08-31 NI008655 core:AfterOneYear 2019-08-31 NI008655 core:AfterOneYear 2018-08-31 NI008655 core:ShareCapital 2019-08-31 NI008655 core:ShareCapital 2018-08-31 NI008655 core:RetainedEarningsAccumulatedLosses 2019-08-31 NI008655 core:RetainedEarningsAccumulatedLosses 2018-08-31 NI008655 core:LandBuildings core:ShortLeaseholdAssets 2018-09-01 2019-08-31 NI008655 core:CostValuation core:Non-currentFinancialInstruments 2019-08-31 NI008655 core:Non-currentFinancialInstruments 2019-08-31 NI008655 core:Non-currentFinancialInstruments 2018-08-31 NI008655 core:LandBuildings core:OwnedOrFreeholdAssets 2018-08-31 NI008655 core:LandBuildings core:ShortLeaseholdAssets 2018-08-31 NI008655 core:PlantMachinery 2018-08-31 NI008655 core:FurnitureFittingsToolsEquipment 2018-08-31 NI008655 core:MotorVehicles 2018-08-31 NI008655 core:DeferredTaxation 2018-08-31 NI008655 core:DeferredTaxation 2019-08-31 NI008655 bus:Director1 2018-08-31 NI008655 bus:Director1 2019-08-31 NI008655 bus:Director2 2018-08-31 NI008655 bus:Director2 2019-08-31 NI008655 bus:Director3 2018-08-31 NI008655 bus:Director3 2019-08-31 NI008655 bus:Director1 2017-08-31 NI008655 bus:Director1 2018-08-31 NI008655 bus:Director2 2017-08-31 NI008655 bus:Director2 2018-08-31 NI008655 bus:Director3 2017-08-31 NI008655 bus:Director3 2018-08-31 NI008655 bus:Director1 2017-09-01 2018-08-31 NI008655 bus:Director2 2017-09-01 2018-08-31 NI008655 bus:SmallEntities 2018-09-01 2019-08-31 NI008655 bus:AuditExemptWithAccountantsReport 2018-09-01 2019-08-31 NI008655 bus:FullAccounts 2018-09-01 2019-08-31 NI008655 bus:SmallCompaniesRegimeForAccounts 2018-09-01 2019-08-31 NI008655 bus:PrivateLimitedCompanyLtd 2018-09-01 2019-08-31
Company registration number: NI008655
Cameron Landscapes Limited
Unaudited filleted financial statements
31 August 2019
Cameron Landscapes Limited
Contents
Directors and other information
Accountants' report
Balance sheet
Notes to the financial statements
Cameron Landscapes Limited
Directors and other information
Directors Mr Geoffrey Cameron
Mrs Kathryn Wilson
Mrs Patricia Cameron
Secretary Mrs Patricia Cameron
Company number NI008655
Registered office 148 Ballylesson Road
Belfast
BT8 8SU
Business address 148 Ballylesson Road
Belfast
BT8 8SU
Accountants Jones Peters
Chartered Accountants
Hughes House
6 Church Street
Banbridge
BT32 4AA
Bankers Danske Bank Limited
Benmore House
353 Lisburn Road
Belfast
BT9 7GP
Solicitors King & Gowdy
298 Upper Newtownards Road
Belfast
BT4 3EJ
Cameron Landscapes Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Cameron Landscapes Limited
Year ended 31 August 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cameron Landscapes Limited for the year ended 31 August 2019 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of Cameron Landscapes Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Cameron Landscapes Limited and state those matters that we have agreed to state to the board of directors of Cameron Landscapes Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cameron Landscapes Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Cameron Landscapes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cameron Landscapes Limited. You consider that Cameron Landscapes Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Cameron Landscapes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Jones Peters
Chartered Accountants
Hughes House
6 Church Street
Banbridge
BT32 4AA
Cameron Landscapes Limited
Balance sheet
31 August 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 3 1,194,016 1,204,620
Investments 4 392,000 392,000
_______ _______
1,586,016 1,596,620
Current assets
Stocks 341,164 202,070
Debtors 5 347,214 189,305
Cash at bank and in hand 116,427 577,050
_______ _______
804,805 968,425
Creditors: amounts falling due
within one year 6 ( 384,511) ( 465,230)
_______ _______
Net current assets 420,294 503,195
_______ _______
Total assets less current liabilities 2,006,310 2,099,815
Creditors: amounts falling due
after more than one year 7 ( 16,200) ( 25,920)
Provisions for liabilities 8 ( 85,146) ( 93,834)
_______ _______
Net assets 1,904,964 1,980,061
_______ _______
Capital and reserves
Called up share capital 4,000 4,000
Profit and loss account 1,900,964 1,976,061
_______ _______
Shareholders funds 1,904,964 1,980,061
_______ _______
For the year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 August 2020 , and are signed on behalf of the board by:
Mr Geoffrey Cameron Mrs Kathryn Wilson
Director Director
Company registration number: NI008655
Cameron Landscapes Limited
Notes to the financial statements
Year ended 31 August 2019
1. Accounting policies
Basis of preparation
Cameron Landscapes Limited is a private company limited by shares, registered in Northern Ireland. The address of the registered office is given on the company information page of the financial statements.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
The company has taken advantage of the exemption in Section 1A of FRS102 from the requirement to produce a cashflow statement because it is a small company.
Judgements and key sources of estimation uncertainty
No significant judgements have been made by management in preparing these financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings - 2 % straight line
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 20 % reducing balance
Office equipment - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
The cost of land is not depreciated.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stock and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Work in progress includes all direct material and labour costs, and professional fees where applicable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 53 (2018: 54 ).
3. Tangible assets
Freehold property Coffee Shop Equipment Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £ £
Cost
At 1 September 2018 809,701 111,806 1,015,493 63,491 348,214 2,348,705
Additions 51,614 2,063 18,964 10,716 - 83,357
_______ _______ _______ _______ _______ _______
At 31 August 2019 861,315 113,869 1,034,457 74,207 348,214 2,432,062
_______ _______ _______ _______ _______ _______
Depreciation
At 1 September 2018 111,981 45,424 723,060 30,347 233,272 1,144,084
Charge for the year 15,135 6,765 44,941 4,133 22,988 93,962
_______ _______ _______ _______ _______ _______
At 31 August 2019 127,116 52,189 768,001 34,480 256,260 1,238,046
_______ _______ _______ _______ _______ _______
Carrying amount
At 31 August 2019 734,199 61,680 266,456 39,727 91,954 1,194,016
_______ _______ _______ _______ _______ _______
At 31 August 2018 697,720 66,382 292,433 33,144 114,942 1,204,621
_______ _______ _______ _______ _______ _______
4. Fixed Asset Investments
Other investments Total
£ £
Cost
At 1 September 2018 and 31 August 2019 392,000 392,000
_______ _______
Impairment
At 1 September 2018 and 31 August 2019 - -
_______ _______
Carrying amount
At 31 August 2019 392,000 392,000
_______ _______
At 31 August 2018 392,000 392,000
_______ _______
5. Debtors
2019 2018
£ £
Trade debtors 153,011 151,196
Prepayments and accrued income 20,590 21,487
Other debtors 173,613 16,622
_______ _______
347,214 189,305
_______ _______
6. Creditors: amounts falling due within one year
2019 2018
£ £
Trade creditors 224,593 233,004
Accruals and deferred income 9,685 9,491
Corporation tax 18,227 28,164
Social security and other taxes 62,321 136,935
Obligations under finance leases/Hire purchase 9,720 19,435
Director loan accounts 46,227 35,756
Other creditors 13,738 2,445
_______ _______
384,511 465,230
_______ _______
7. Creditors: amounts falling due after more than one year
2019 2018
£ £
Obligations under finance leases/Hire purchase 16,200 25,920
_______ _______
8. Provisions
Deferred tax Total
£ £
At 1 September 2018 93,834 93,834
Decrease ( 8,688) ( 8,688)
_______ _______
At 31 August 2019 85,146 85,146
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2019
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Geoffrey Cameron ( 35,418) 66,029 ( 76,500) ( 45,889)
Mrs Kathryn Wilson 16,621 70,492 ( 73,500) 13,613
Mrs Patricia Cameron ( 338) - - ( 338)
_______ _______ _______ _______
(19,135) 136,521 ( 150,000) ( 32,614)
_______ _______ _______ _______
2018
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Geoffrey Cameron ( 48,912) 89,994 ( 76,500) ( 35,418)
Mrs Kathryn Wilson 25,294 64,828 ( 73,500) 16,622
Mrs Patricia Cameron ( 338) - - ( 338)
_______ _______ _______ _______
( 23,956) 154,822 ( 150,000) ( 19,134)
_______ _______ _______ _______
10. Related party transactions
2019 2018
£ £
Amounts due to Cameron Family Pension Fund
12,900
4,500
During the year the company paid rent to Cameron Landscapes Retirement & Death Benefit Scheme, of which the shareholders are trustees, for £43,000. (2018: £43,000)
11. Controlling party
Mr G Cameron, by virtue of his shareholding, is the ultimate controlling party of the company.