Cajar Ltd - Accounts to registrar (filleted) - small 18.2
Cajar Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| CAJAR LTD |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2020 |
| CAJAR LTD (REGISTERED NUMBER: NI652164) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| CAJAR LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 29 FEBRUARY 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 36-38 Northland Row |
| Dungannon |
| Co. Tyrone |
| BT71 6AP |
| CAJAR LTD (REGISTERED NUMBER: NI652164) |
| STATEMENT OF FINANCIAL POSITION |
| 29 FEBRUARY 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| NON-CURRENT ASSETS |
| Investment property | 5 |
| CURRENT ASSETS |
| Receivables: amounts falling due within one year |
6 |
| Cash at bank |
| PAYABLES |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PAYABLES |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| CAJAR LTD (REGISTERED NUMBER: NI652164) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 29 FEBRUARY 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CAJAR LTD (REGISTERED NUMBER: NI652164) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2020 |
| 1. | GENERAL INFORMATION |
| Cajar Ltd is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets. |
| Revenue |
| Revenue is recognised upon date to which rental occurs. Revenue is comprised the invoice value of rental exclusive of any value added tax. |
| Investment property |
| Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuations use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the Income Statement. |
| CAJAR LTD (REGISTERED NUMBER: NI652164) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2020 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| (i) Financial assets |
| Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. |
| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement. |
| (ii) Financial liabilities |
| Basic financial liabilities, including trade and other payables, bank loans and overdrafts and hire purchase contracts are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates. |
| Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| (iii) Offsetting |
| Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Taxation |
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date. |
| CAJAR LTD (REGISTERED NUMBER: NI652164) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2020 |
| 3. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Cash flow statement |
| The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company. |
| Share capital |
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2019 |
| Additions |
| Reclassification/transfer | (148,830 | ) |
| At 29 February 2020 |
| NET BOOK VALUE |
| At 29 February 2020 |
| At 28 February 2019 |
| The directors consider that such valuations are reflective of the open market value of the properties at 29 February 2020. |
| 6. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other receivables |
| 7. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Trade payables |
| Amounts owed to related undertakings | 2,422,294 | 2,422,294 |
| Taxation and social security |
| Other payables |
| CAJAR LTD (REGISTERED NUMBER: NI652164) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2020 |
| 8. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more five years | 1,245,428 | 1,352,572 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Mortgage debenture incorporating a fixed and floating charge over all company assets present and future including a specific charge over the investment property. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Tax losses carried forward | ( |
) | ( |
) |
| 3,943 | 3,228 |
| Deferred tax |
| £ |
| Balance at 1 March 2019 |
| Charge to Income Statement during year |
| Balance at 29 February 2020 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | 1 | 2 | 2 |