Cairds Property Services Limited - Period Ending 2022-12-31

Cairds Property Services Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Cairds Property Services Limited

Company Information

Directors

A R Caird E J Caird S A 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 2022

	Note	2022 £	2021 £
Fixed assets
Investment property	5	8,265,175	7,878,900
Investments	6	100	100
Other financial assets	7	535,150	415,230
		8,800,425	8,294,230
Current assets
Debtors	8	193,205	76,810
Cash at bank and in hand		541,124	1,152,545
		734,329	1,229,355
Creditors: Amounts falling due within one year	9	(328,579)	(643,698)
Net current assets		405,750	585,657
Total assets less current liabilities		9,206,175	8,879,887
Provisions for liabilities		(310,532)	(236,005)
Net assets		8,895,643	8,643,882
Capital and reserves
Called up share capital	12	300	300
Share premium reserve		3,995,121	3,995,121
Other reserves		1,006,124	1,006,124
Retained earnings		3,894,098	3,642,337
Shareholders' funds		8,895,643	8,643,882

For the financial year ending 31 December 2022 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.

Cairds Property Services Limited

(Registration number: 09115083)
Balance Sheet as at 31 December 2022

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 July 2023 and signed on its behalf by:



 

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

S A Caird

Director

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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.

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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 (2021 - 3).

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2022	842	842
At 31 December 2022	842	842
Depreciation
At 1 January 2022	842	842
At 31 December 2022	842	842
Carrying amount
At 31 December 2022	-	-

5	Investment properties

	2022 £
At 1 January	7,878,900
Acquired through business combinations	386,275
At 31 December	8,265,175

6	Investments

	2022 £	2021 £
Investments in subsidiaries	100	100

Subsidiaries	£
Cost or valuation
At 1 January 2022	100
Provision
Carrying amount
At 31 December 2022	100
At 31 December 2021	100

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2022	2021
Subsidiary undertakings
Cairds (Epsom) Ltd	England and Wales	Ordinary	100%	100%

Subsidiary undertakings

Cairds (Epsom) Ltd The principal activity of Cairds (Epsom) Ltd is estate agency.

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

7	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2022	415,230	415,230
Additions	142,128	142,128
Disposals	(22,208)	(22,208)
At 31 December 2022	535,150	535,150
Impairment
Carrying amount
At 31 December 2022	535,150	535,150

8

Debtors

Current	2022 £	2021 £
Other debtors	193,205	76,810

9

Creditors

Creditors: amounts falling due within one year

	Note	2022 £	2021 £
Due within one year
Trade creditors		738	577
Amounts owed to group undertakings and undertakings in which the company has a participating interest	11	70,648	120,853
Taxation and social security		26,994	30,452
Accruals and deferred income		29,900	2,900
Other creditors		200,299	488,916
		328,579	643,698

Cairds Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

10

Dividends

		2022		2021
		£		£
Interim dividend of £283.33 (2021 - £273.33) per ordinary share		85,000		82,000

11	Related party transactions

Summary of transactions with subsidiaries

Loans to related parties

2022	Subsidiary £	Total £
At start of period	(120,854)	(120,854)
Repaid	50,206	50,206
At end of period	(70,648)	(70,648)

2021	Subsidiary £	Total £
At start of period	(49,160)	(49,160)
Advanced	(71,694)	(71,694)
At end of period	(120,854)	(120,854)

12	Share capital

Allotted, called up and fully paid shares

	2022		2021
	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