Cardo Construction Company Limited,Ltd - AccountsLtd - Accounts

CARDO CONSTRUCTION COMPANY LIMITED - Company Information

Print Friendly Version

Cardo Construction Company Limited

Registered Number:02162832

For the year ended 31 March 2020

England and Wales

Unaudited Financial Statements

For the year ended 31 March 2020

Cardo Construction Company Limited

Contents Page

Statement of Financial Position

2 to 5

Notes to the Financial Statements

Registered Number :

02162832

As at 31 March 2020

Cardo Construction Company Limited

Statement of Financial Position

2019

2020

Notes

Fixed assets

Property, plant and equipment

997

929

Financial assets

39,168

40,165

40,097

Current assets

Trade and other receivables

1,376,412

1,143,512

68,023

Cash and cash equivalents

1,143,512

1,444,435

Trade and other payables: amounts falling due within one

year

(533,756)

(390,183)

910,679

753,329

Net current assets

Total assets less current liabilities

793,494

950,776

Trade and other payables: amounts falling due after more

than one year

(138,216)

793,494

Net assets

812,560

Capital and reserves

Called up share capital

Retained earnings

793,396

812,462

793,494

812,560

Shareholders' funds

For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Mr ANTHONY MAX VAUGHAN READ Director

These financial statements were approved and authorised for issue by the Board on 23 September 2020 and were signed by:

The notes form part of these financial statements

1 of 5

For the year ended 31 March 2020

Cardo Construction Company Limited

Notes to the Financial Statements

Statutory Information

Cardo Construction Company Limited is a private limited company, limited by shares, domiciled in England and Wales,

registration number 02162832.

Principal place of business:

8 The Crescent

Taunton

Somerset

TA1 4EA

Registered address:

West Walk House

99 Princess Road East

Leicester

LE1 7LF

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 '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 costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover represents rents receivable.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

10% Reducing balance

Computer equipment

Investment property

Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January, 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this might otherwise have been charged cannot be separately identified or quantified.

2 of 5

For the year ended 31 March 2020

Cardo Construction Company Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Computer

equipment

Cost or

valuation

At 01 April 2019

2,158

179

Additions

At 31 March 2020

2,337

Provision for depreciation and impairment

At 01 April 2019

1,229

Charge for year

111

At 31 March 2020

1,340

At 31 March 2020

Net book value

997

At 31 March 2019

929

3. Investments held as fixed assets

Other investments

Total

At 01 April 2019

39,168

Cost

At 31 March 2020

39,168

At 31 March 2020

Net book value

39,168

At 01 April 2019

39,168

At cost

Philatics; £39,167 (2019 £39,167)

Cardo Properties Limited - 1 ordinary share of £1; £1 (2019 £1)

Total £39,168 (2019 £39,168)

Cardo Properties Ltd is a wholly owned subsidiary of Cardo Construction Company Limited.

3 of 5

For the year ended 31 March 2020

Cardo Construction Company Limited

Notes to the Financial Statements Continued

4. Trade and other receivables

2019

2020

Amounts owed by group undertakings and participating interests

1,143,512

1,374,522

Taxation and social security

1,890

1,376,412

1,143,512

Group UndertakingsTourdell Properties Ltd £Nil (2019 £88,100)Collina Builders Ltd £Nil (2019 £330,796)Crescent Holdings Ltd £Nil (2019 £490,434)Emcastle Ltd £Nil (2019 £8,181)Pendine Builders Ltd £Nil (2019 £217,308)Cardo Properties Ltd £Nil (2019 £45,083 creditor)Annunciation Ltd. £1,143,512 (2019 £36,786)Toddleon Ltd £Nil (2019 £Nil)Total £1,143,512 (2019 £1,226,522) All of the above companies, including Cardo Construction Company Ltd, are members of the Annunciation Ltd Group. Associated Company loans3 Acorns Investments (2005) Limited £Nil (2019 £50,000)Energyshare Limited £Nil (2019 £183,000)Majorfactor Limited £Nil (2019 £15,000)Webneed £Nil (2019 £16,500 debtor)Total £Nil (2019 £231,500) The above companies are associated by way of common directors and shareholders. The loans are interest free and repayable upon demand.

5. Trade and other payables: amounts falling due within one year

2019

2020

Bank loans and overdraft (secured)

387,995

402,175

Trade creditors

988

321

Amounts owed to group undertaking and undertaking in which the

company has a participating interest

129,960

Accruals and deferred income

1,200

1,300

390,183

533,756

Group UndertakingsCindra Buildings Ltd £Nil (2019 £113,460) The above company is a member of the Annunciation Ltd Group. The loan is interest free and repayable upon demand.

4 of 5

For the year ended 31 March 2020

Cardo Construction Company Limited

Notes to the Financial Statements Continued

6. Trade and other payables: amounts falling due after more than one year

2019

2020

Amounts owed to group undertaking and undertaking in which the

company has a participating interest

138,216

Associated company loan Amounts repayable by instalments: Within five years £Nil (2019 £138,216) After five years Nil (2019 Nil) Total £Nil (2019 £138,216) The associated company loan is from Buildstrong Ltd, a dormant company in which Mr A M Vaughan Read was associated.

7. Related party transactions

Cardo Construction Company Limited is a wholly owned subsidiary of Annunciation Limited. Mr A M Vaughan Read

and his family have a controlling interest in Annunciation Limited.

The Ultimate Controlling Party is the Vaughan Read family, UK residents.

8. Average number of persons employed

During the year the average number of employees was 1 (2019 : 1)

9. Parent-subsidary relationship

Cardo Construction Company Limited is a wholly owned subsidiary of Annunciation Limited, whose registered office is West Walk House, 99 Princess Road East, Leicester, LE1 7LF.

5 of 5