Cedar Estate Tenants (Kensington) Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 00622651 (England and Wales)

Audited Financial Statements for the Year Ended 30 September 2017

for

CEDAR ESTATE TENANTS (KENSINGTON)

LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M J Lowry

S Benedetti

E P Jackson

J B Russell

S Abboud

N Sultan

SECRETARY:

Samjess Limited

REGISTERED OFFICE:

Annecy Court

Ferry Works

Summer Road

Thames Ditton

Surrey

KT7 0QJ

REGISTERED NUMBER:

00622651 (England and Wales)

AUDITORS:

BDA Associates Limited

Statutory Auditor

Chartered Accountants

Annecy Court

Ferry Works

Summer Road

Thames Ditton

Surrey

KT7 0QJ

CURRENT ASSETS

Debtors

4

646,698

188,087

Cash at bank and in hand

30,046

164,925

676,744

353,012

CREDITORS

Amounts falling due within one year

5

693,395

295,407

NET CURRENT (LIABILITIES)/ASSETS

(16,651

)

57,605

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,651

)

57,605

CAPITAL AND RESERVES

Called up share capital

6

97

97

Other reserves

7

(16,748

)

57,508

SHAREHOLDERS' FUNDS

(16,651

)

57,605

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 27 March 2018 and were signed on its behalf by:

S Benedetti - Director

J B Russell - Director

1.	STATUTORY INFORMATION

Cedar Estate Tenants (Kensington) Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

The company meets its day to day working capital requirements through its bank facilities. The company has

received £200,000 and £335,035 since the 30 September 2017 towards the reserve fund and service charge fund

respectively. The directors therefore have a reasonable expectation that the company has adequate resources to

continue to meet its costs for the foreseeable future.

On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Significant judgements and estimates

In the process of applying its accounting policies, the company is required to make certain estimates, judgements

and assumptions that it believes are reasonable based on the information available. These judgements, estimates

and assumptions affect the amounts of assets and liabilities at the date of the financial statements and the

amounts of revenues and expenses recognised during the reporting periods presented. On an ongoing basis, the

company evaluates its estimates using historical experience, consultation with experts and other methods

considered reasonable in the particular circumstances. Actual results may differ significantly from the estimates,

the effect of which is recognised in the period in which the facts that give rise to the revision become known.

Turnover

Turnover represents amounts receivable for the maintenance of the properties known as Cedar Estates, London.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

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

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid

investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company

becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is

a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Due from related company

-

5,199

Trade debtors

524,509

48,404

Other debtors - LTA Funds

49,831

59,793

Prepayments

72,358

74,691

646,698

188,087

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

56,927

13,306

Due to related company

7,385

-

Corporation tax

46

133

Other creditors

-

213,155

Other creditors - LTA funds

49,831

59,793

Accruals & deferred income

579,206

9,020

693,395

295,407

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.17

30.9.16

value:

£

£

92

Ordinary Class 'A' Shares

£1

92

92

100

Ordinary Class 'B' Shares

5p

5

5

97

97

7.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 October 2016

-

57,508

57,508

Profit for the year

-

-

Movement on reserves

-

(74,256

)

(74,256

)

At 30 September 2017

-

(16,748

)

(16,748

)

STATEMENT OF MOVEMENT ON RESERVES

30.09.17

30.09.16

Balance at 1 October 2016

57,508

199,991

Movement during the year

(74,256

)

(142,483

)

Balance at 30 September 2017

(16,748

)

57,508

MOVEMENT DURING THE YEAR REPRESENTED BY:

Contributions received in two half yearly levies

400,000

400,000

Reserve fund expenditure

(575,965

)

(611,534

)

Loan to Service Charge repaid

155,000

-

Bank charges

(14

)

(20

)

Interest received

78

321

Corporation tax

(46

)

(133

)

(Deficit)/Surplus on Service Charge

(53,309

)

68,883

(74,256

)

(142,483

)

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rajesh Amin (Senior Statutory Auditor)

for and on behalf of BDA Associates Limited

9.	RELATED PARTY DISCLOSURES

At 30 September 2017 the company has a creditor of £7,385 (2016 - debtor of £5,199) due to Cedar Estates

Limited, a related company which has the same directors and majority shareholders.

10.	ULTIMATE CONTROLLING PARTY