Cyncoed Property (Cardiff) Limited - Accounts to registrar (filleted) - small 18.2
Cyncoed Property (Cardiff) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| CYNCOED PROPERTY (CARDIFF) LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| CYNCOED PROPERTY (CARDIFF) LIMITED (REGISTERED NUMBER: 05382265) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| CYNCOED PROPERTY (CARDIFF) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Elfed House |
| Oak Tree Court |
| Cardiff Gate Business Park |
| CARDIFF |
| County of Cardiff |
| CF23 8RS |
| CYNCOED PROPERTY (CARDIFF) LIMITED (REGISTERED NUMBER: 05382265) |
| BALANCE SHEET |
| 31 MARCH 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
| The financial statements were approved for issue by the director on |
| CYNCOED PROPERTY (CARDIFF) LIMITED (REGISTERED NUMBER: 05382265) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| Cyncoed Property (Cardiff) Limited is a |
| The company's registered number and registered office address can be found on the Company Information |
| page. |
| The financial statements are presented in Sterling (£), the company's functional currency, and rounded to the |
| nearest pound. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| There have been no material departures from Financial Reporting Standard 102 1A. |
| Turnover |
| Turnover consists of rental income exclusive of value added tax accounted for on the accruals basis. |
| Investment property |
| Investment properties are carried at fair value. Revaluation surpluses and deficits are recognised in the profit |
| and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property |
| is sold, or the deferred tax liability is settled, based on the tax rates and tax laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet 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. |
| CYNCOED PROPERTY (CARDIFF) LIMITED (REGISTERED NUMBER: 05382265) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| Fair value at 31 March 2018 is represented by: |
| £ |
| Valuation in 2018 | 3,126,481 |
| The investment properties are stated at their estimated open market valuations on the basis of existing use, |
| made by D R J Herbert (Chartered Surveyor) as at 31 March 2018. |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Building Society loan |
| Trade creditors |
| Corporation tax |
| VAT |
| Rent in advance |
| Shareholder loan |
| Amounts due to related |
| companies | 311,366 | 313,930 |
| Accruals and deferred income |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans - 1-5 years |
| Bank loans > 5 years |
| Building Society loan 1-5 |
| years |
| Building Society loan > 5 |
| years |
| CYNCOED PROPERTY (CARDIFF) LIMITED (REGISTERED NUMBER: 05382265) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans > 5 years | 1,050,765 | 265,364 |
| Building Society loan > 5 |
| years | 249,972 | 251,160 |
| 1,300,737 | 516,524 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Building Society loan |
| The company's borrowings are secured by way of legal charges over the investment properties. |
| 8. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax | 30,996 | 33,806 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2017 |
| Movement during year | (2,810 | ) |
| Balance at 31 March 2018 |
| The deferred tax balance comprises the tax effect of: |
| 2018 | 2017 |
| £ | £ |
| Fixed asset timing differences | 32,686 | 35,496 |
| Losses carried forward | (1,690 | ) | (1,690 | ) |
| 30,996 | 33,806 |