Cedar House Financial Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02040424 (England and Wales)

Abbreviated Accounts

for the Year Ended 30 September 2016

for

CEDAR HOUSE FINANCIAL SERVICES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

Directors:

Mr R I Kafton

Mr D Gerschlowitz

Mr L Kafton

Secretary:

Mrs S Kafton

Registered office:

Cedar House

179-181 Bramley Road

Oakwood

London

N14 4XA

Registered number:

02040424 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

Fixed assets

Intangible assets

2

314,052

-

Tangible assets

3

18,813

22,389

Investments

4

2,000

-

334,865

22,389

Current assets

Debtors

64,716

31,673

Cash at bank and in hand

254,405

271,752

319,121

303,425

Creditors

Amounts falling due within one year

306,902

169,081

Net current assets

12,219

134,344

Total assets less current liabilities

347,084

156,733

Provisions for liabilities

2,848

3,362

Net assets

344,236

153,371

Capital and reserves

Called up share capital

5

1,200

1,025

Profit and loss account

343,036

152,346

Shareholders' funds

344,236

153,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 7 December 2016 and were signed on its behalf by:

Mr R I Kafton - Director

1.	Accounting policies

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents the commissions and fees receivable during the year less indemnity commissions

chargeback provisions.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Investments in subsidiaries

Investments in subsidiaries are carried at cost less accumulated impairment losses in the Company’s balance

sheet.

Preparation of consolidated financial statements

The financial statements contain information about Cedar House Financial Services Limited Limited as an

individual company and do not contain consolidated financial information as the parent of a group. The

company has taken the option under section 398 of the companies Act 2006 not to prepare consolidated

financial statements.

2.	Intangible fixed assets

Total

£

Cost

Intra group transfer

330,581

At 30 September 2016

330,581

Amortisation

Amortisation for year

16,529

At 30 September 2016

16,529

Net book value

At 30 September 2016

314,052

3.	Tangible fixed assets

Total

£

Cost

At 1 October 2015

163,976

Reclassification/transfer

1,503

At 30 September 2016

165,479

Depreciation

At 1 October 2015

141,587

Charge for year

5,079

At 30 September 2016

146,666

Net book value

At 30 September 2016

18,813

At 30 September 2015

22,389

4.	Fixed asset investments

Investments

other than

loans

£

Cost

Additions

104,758

At 30 September 2016

104,758

Provisions

Charge for year

102,758

At 30 September 2016

102,758

Net book value

At 30 September 2016

2,000

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1,200

Ordinary

£1

1,200

1,025

175 Ordinary shares of £1 were issued during the year for cash of £ 175 .

6.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 September 2016 and

30 September 2015:

2016

2015

£

£

Mr R I Kafton

Balance outstanding at start of year

(508

)

(508

)

Amounts advanced

466,958

-

Amounts repaid

(466,450

)

-

Balance outstanding at end of year

-

(508

)

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Cedar House Financial Services Limited for the year ended 30 September 2016 which comprise

the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Cedar House Financial Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cedar House Financial Services Limited and state those matters that we have agreed to state to the Board of Directors of Cedar House Financial Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cedar House Financial Services Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cedar House Financial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cedar House Financial Services Limited. You consider that Cedar House Financial Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cedar House Financial Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

7 December 2016