Cairds Property Services Limited - Period Ending 2020-12-31

Cairds Property Services Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Cairds Property Services Limited

Company Information

Directors

A R Caird E Caird S Caird

Registered office

Maria House 35 Millers Road Brighton BN1 5NP

Accountants

Chisnall Comer Ismail & Co Chartered Accountants Maria House 35 Millers Road Brighton BN1 5NP

Cairds Property Services Limited

(Registration number: 09115083)
Balance Sheet as at 31 December 2020

	Note	2020 £	2019 £
Fixed assets
Investment property	5	7,879,000	7,273,000
Other financial assets		-	211,085
		7,879,000	7,484,085
Current assets
Debtors	6	1,191	187,705
Cash at bank and in hand		1,111,248	1,324,507
		1,112,439	1,512,212
Creditors: Amounts falling due within one year	7	(637,552)	(3,439)
Net current assets		474,887	1,508,773
Total assets less current liabilities		8,353,887	8,992,858
Creditors: Amounts falling due after more than one year	7	(176,234)	(1,824,234)
Provisions for liabilities		(236,005)	(120,865)
Net assets		7,941,648	7,047,759
Capital and reserves
Called up share capital	11	300	300
Share premium reserve		3,995,121	3,995,121
Other reserves		1,006,124	515,264
Profit and loss account		2,940,103	2,537,074
Shareholders' funds		7,941,648	7,047,759

For the financial year ending 31 December 2020 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Cairds Property Services Limited

(Registration number: 09115083)
Balance Sheet as at 31 December 2020

Approved and authorised by the Board on 14 July 2021 and signed on its behalf by:



 

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

S Caird

Director

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

Investment property

Investment property is carried at fair value. Changes in value are recognised in profit or loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Non-distributable reserve

The aggregate fair value adjustments relating to movements in the value of the company's investment properties are transferred at the end of each period, net of deferred tax, from the profit and loss reserve to the non-distributable reserve.

On disposal of investment property the aggregate fair value adjustment is transferred back to profit and loss reserves and the deferred tax provision is transferred to current tax liabilities.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2019 - 3).

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2020	842	842
At 31 December 2020	842	842
Depreciation
At 1 January 2020	842	842
At 31 December 2020	842	842
Carrying amount
At 31 December 2020	-	-

5	Investment properties

	2020 £
At 1 January	7,273,000
Fair value adjustments	606,000
At 31 December	7,879,000

6

Debtors

	Note	2020 £	2019 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10	-	159,191
Other debtors		1,191	28,514
		1,191	187,705

7

Creditors

Creditors: amounts falling due within one year

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

	Note	2020 £	2019 £
Due within one year
Trade creditors		834	410
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	49,160	-
Taxation and social security		29,102	-
Accruals and deferred income		2,900	2,900
Other creditors		555,556	129
		637,552	3,439

Creditors: amounts falling due after more than one year

	Note	2020 £	2019 £
Due after one year
Loans and borrowings	8	176,234	1,824,234

8	Loans and borrowings

	2020 £	2019 £
Non-current loans and borrowings
Bank borrowings	176,234	1,824,234

9

Dividends

		2020		2019
		£		£
Interim dividend of £82,000 (2019 - £294,000) per ordinary share		82,000		294,000

10	Related party transactions

Summary of transactions with subsidiaries

Loans to related parties

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

2020	Subsidiary £	Total £
At start of period	159,191	159,191
Repaid	(208,351)	(208,351)
At end of period	(49,160)	(49,160)

2019	Subsidiary £	Total £
At start of period	122,225	122,225
Advanced	36,966	36,966
At end of period	159,191	159,191

11	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100
A Ordinary of £1 each	12	12	12	12
B Ordinary of £1 each	4	4	4	4
C Ordinary of £1 each	184	184	184	184
	300	300	300	300