CIRCASSIAN_CANNON_WHARF_L - Accounts

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Circassian Cannon Wharf Limited is a private company limited by shares incorporated in England and Wales. The registered office is 50 Quarry Street, Guildford, Surrey, GU1 3UA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover is recognised at the fair value of the consideration received or receivable for rental services provided in the normal course of business, and is shown net of VAT.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

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 balance sheet 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.

Basic financial assets, which include debtors, cash and bank balances and loans to fellow group companies are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable.

LBC Cannon Wharf

Mr E B A O'Reillly Hyland is a partner in LBC Cannon Wharf.

During the year, the company advanced a total of £33,734 (2017: £Nil) to LBC Cannon Wharf. The amount owed by LBC Cannon Wharf as at 31 March 2018 was £33,734 (2017: £Nil). The amount is included within other debtors.

Translloyd Developments Limited

Mr E B A O'Reilly Hyland is a director of Translloyd Developments Limited.

During the year, the company advanced a total of £13,147 (2017: £Nil) to Translloyd Developments Limited. The amount owed by Translloyd Developments Limited as at 31 March 2018 was £13,147 (2017: £Nil). The amount is included within other debtors.

Quarry Street Capital Limited

Mr E B A O'Reilly Hyland is a director of Quarry Street Capital Limited.

During the year, the company advanced a total of £800,000 (2017: £Nil) to Quarry Street Capital Limited. The amount owed by Quarry Street Capital Limited as at 31 March 2018 was £800,000 (2017: £Nil). The amount is included within other debtors.

Circassian Limited

Mr E B A O'Reilly Hyland is a director of Circassian Limited.

At the balance sheet date, the amount owed to Circassian Limited as at 31 March 2018 was £10 (2017: £10). The amount is included within amounts due to group undertakings.