East Bay Cardiff Limited

East Bay Cardiff Limited

EAST BAY CARDIFF LIMITED - Company Information

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1 January 2019 false Taxfiler 2021.2.1 11107836business:PrivateLimitedCompanyLtd2019-01-012019-12-31 111078362018-12-31 111078362019-01-012019-12-31 11107836business:AuditExempt-NoAccountantsReport2019-01-012019-12-31 11107836business:FullAccounts2019-01-012019-12-31 111078362019-12-31 11107836business:Director12019-01-012019-12-31 11107836business:Director22019-01-012019-12-31 11107836business:RegisteredOffice2019-01-012019-12-31 111078362018-12-31 11107836core:WithinOneYear2019-12-31 11107836core:WithinOneYear2018-12-31 11107836core:AfterOneYear2019-12-31 11107836core:AfterOneYear2018-12-31 11107836core:ShareCapital2019-12-31 11107836core:ShareCapital2018-12-31 11107836core:RetainedEarningsAccumulatedLosses2019-12-31 11107836core:RetainedEarningsAccumulatedLosses2018-12-31 11107836business:SmallEntities2019-01-012019-12-31 11107836countries:EnglandWales2019-01-012019-12-31 11107836core:AfterOneYear2019-01-012019-12-31 111078362018-01-012018-12-31 iso4217:GBP xbrli:pure
Company Registration No. 11107836 (England and Wales)
East Bay Cardiff Limited Unaudited accounts for the year ended 31 December 2019
East Bay Cardiff Limited Unaudited accounts Contents
Page
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East Bay Cardiff Limited Company Information for the year ended 31 December 2019
Directors
Jerald Solis Steven Worboys
Company Number
11107836 (England and Wales)
Registered Office
43 PALACE STREET LONDON SW1E 5HL UNITED KINGDOM
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East Bay Cardiff Limited Statement of financial position as at 31 December 2019
2019 
2018 
Notes
£ 
£ 
Current assets
Inventories
9,594,665 
8,820,104 
Debtors
4
423,131 
730,363 
Cash at bank and in hand
323,599 
183 
10,341,395 
9,550,650 
Creditors: amounts falling due within one year
5
(5,162,142)
(4,426,064)
Net current assets
5,179,253 
5,124,586 
Total assets less current liabilities
5,179,253 
5,124,586 
Creditors: amounts falling due after more than one year
6
(6,401,060)
(5,440,549)
Net liabilities
(1,221,807)
(315,963)
Capital and reserves
Called up share capital
(1)
(1)
Profit and loss account
(1,221,806)
(315,962)
Shareholders' funds
(1,221,807)
(315,963)
For the year ending 31 December 2019 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2021 and were signed on its behalf by
Steven Worboys Director Company Registration No. 11107836
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East Bay Cardiff Limited Notes to the Accounts for the year ended 31 December 2019
1
Statutory information
East Bay Cardiff Limited is a private company, limited by shares, registered in England and Wales, registration number 11107836. The registered office is 43 PALACE STREET, LONDON, SW1E 5HL, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. Basis of preparation The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Going concern The effect of COVID-19 on the operations of the company has been considered and whilst the pandemic has severely affected the property market, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In the event further support is required to enable the company to continue in business and meet its liabilities as they fall due, this support will be available from connected companies although the company has not received any written undertakings to this effect. Due to the expectation of the availability of support to enable the company to continue in business and meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements, the director believes it is appropriate to prepare the financial statements on a going concern basis . Stock Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition. Cash at bank and in hand Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Financial instruments Basic financial instruments are held at cost. The company has no other financial instruments or basic financial instruments measured at fair value. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company
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East Bay Cardiff Limited Notes to the Accounts for the year ended 31 December 2019
Presentation currency
The accounts are presented in £ sterling.
4
Debtors
2019 
2018 
£ 
£ 
Less than one year
VAT
3,857 
129,515 
Amounts due from group undertakings etc.
7,168 
- 
Other debtors
412,106 
600,848 
Total debtors less than one year
423,131 
730,363 
Greater than one year
Total debtors
423,131 
730,363 
5
Creditors: amounts falling due within one year
2019 
2018 
£ 
£ 
Trade creditors
98,720 
2,822,396 
Amounts owed to group undertakings and other participating interests
4,911,622 
1,601,868 
Other creditors
150,000 
- 
Accruals
1,800 
1,800 
5,162,142 
4,426,064 
6
Creditors: amounts falling due after more than one year
2019 
2018 
£ 
£ 
Bank loans
5,460,000 
5,440,549 
Other creditors
941,060 
- 
6,401,060 
5,440,549 
Within other creditors due within after one year, there is loan balances totalling £5,460,000 that is secured by a fixed charge over the property included in stock and a floating charge over all of the assets and undertakings of the company
7
Transactions with related parties
At the period end the company owed £4,911,622 to companies under common control. These amounts are included within other creditors due within one year. No interest is accruing on these balances. At the period end £7,168 is owed by company to other companies under common control. These amounts are included within other debtors due within one year. No interest is accruing on these balances .
8
Average number of employees
During the year the average number of employees was 2 (2018: 2).
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