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2018-03-31
Cardo Construction Company Limited |
Registered Number:02162832 |
For the year ended 31 March 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2018
Cardo Construction Company Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Cardo Construction Company Limited
Statement of Financial Position
2017
2018
Property, plant and equipment |
1,032
1,147
2
39,168
39,168
3
40,200
40,315
Trade and other receivables |
1,578,750
1,471,850
4
-
Cash and cash equivalents |
29,053
1,500,903
1,578,750
Trade and other payables: amounts falling due within one |
year |
(633,933)
(573,017)
5
944,817
927,886
Net current assets
Total assets less current liabilities |
968,086
985,132
Trade and other payables: amounts falling due after more |
than one year |
(138,216)
(138,216)
6
829,870
Net assets
846,916
98
98
829,772
846,818
829,870
846,916
Shareholders' funds
For the 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 members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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 Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr ANTHONY MAX VAUGHAN READ Director |
These financial statements were approved and authorised for issue by the Board on 10 December 2018 and were signed by: |
The notes form part of these financial statements |
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4
For the year ended 31 March 2018
Cardo Construction Company Limited
Notes to the Financial Statements
Statutory Information
Cardo Construction Company Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 02162832. |
Principal place of business: |
8 The Crescent
Taunton
Somerset
TA1 4EA
West Walk House
99 Princess Road East
Leicester
LE1 7LF
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover represents rents receivable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January, 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this might otherwise have been charged cannot be separately identified or quantified. |
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5
For the year ended 31 March 2018
Cardo Construction Company Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
2,158
2,158
Provision for depreciation and impairment |
1,011
Charge for year
115
1,126
1,032
1,147
3. Investments held as fixed assets |
39,168
39,168
39,168
39,168
39,168
39,168
39,168
39,168
Philatics; £39,167 (2017 £39,167) |
Cardo Properties Limited - 1 ordinary share of £1; £1 (2017 £1) |
Total £39,168 (2017 £39,168) |
Cardo Properties Ltd is a wholly owned subsidiary of Cardo Construction Company Limited. |
3 of 5
6
For the year ended 31 March 2018
Cardo Construction Company Limited
Notes to the Financial Statements Continued
4. Trade and other receivables |
2017
2018
Amounts owed by group undertakings and participating interests |
1,469,960
1,576,860
Taxation and social security |
1,890
1,890
1,578,750
1,471,850
Group UndertakingsTourdell Properties Ltd £88,100 (2017 £88,100)Collina Builders Ltd £340,796 (2017 £340,796)Crescent Holdings Ltd £490,434 (2017 £490,434)Emcastle Ltd £8,181 (2017 £8,181)Pendine Builders Ltd £217,308 (2017 £217,308)Cardo Properties Ltd £40,355 (2017 £147,255)Annunciation Ltd. £36,786 (2017 £36,786)Total £1,221,960 (2017 £1,328,860) All of the above companies, including Cardo Construction Company Ltd, are members of the Annunciation Ltd Group. Associated Company loans3 Acorns Investments (2005) Limited £50,000 (2017 £50,000)Energyshare Limited £183,000 (2017 £183,000)Majorfactor Limited £15,000 (2017 £15,000)Total £248,000 (2017 £248,000) The above companies are associated by way of common directors and shareholders. The loans are interest free and repayable upon demand. |
5. Trade and other payables: amounts falling due within one year |
2017
2018
Bank loans and overdraft (secured) |
429,597
480,863
-
9,127
186
164
Amounts owed to group undertaking and undertaking in which the |
company has a participating interest |
141,959
141,959
Accruals and deferred income |
1,275
1,820
573,017
633,933
Group UndertakingsCindra Buildings Ltd £115,459 (2017 £115,459) The above company is a member of the Annunciation Ltd Group. Associated company loanWebneed Limited £26,500 (2017 £26,500) The above company is associated by way of common directors and shareholders. The loan are interest free and repayable upon demand. |
4 of 5
7
For the year ended 31 March 2018
Cardo Construction Company Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year |
2017
2018
Amounts owed to group undertaking and undertaking in which the |
company has a participating interest |
138,216
138,216
Associated company loan Amounts repayable by instalments: Within five years £138,216 (2017 £138,216) After five years Nil (2017 Nil) Total £138,216 (2017 £138,216) The associated company loan is from Buildstrong Ltd, a dormant company in which Mr A M Vaughan Read was associated. |
7. Related party transactions |
The Ultimate Controlling Party is the Vaughan Read family, UK residents. |
Cardo Construction Company Limited is a wholly owned subsidiary of Annunciation Limited. Mr A M Vaughan Read |
and his family have a controlling interest in Annunciation Limited. |
8. Average number of persons employed |
During the year the average number of employees was 1 (2017 : 1)
9. Parent-subsidary relationship |
Cardo Construction Company Limited is a wholly owned subsidiary of Annunciation Limited, whose registered office is West Walk House, 99 Princess Road East, Leicester, LE1 7LF. |
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