Company No:
Contents
DIRECTORS | Mr D R Cavanagh |
Mr P Kaziewicz |
REGISTERED OFFICE | One |
Glass Wharf | |
Bristol | |
BS2 0ZX | |
United Kingdom |
COMPANY NUMBER | 12311699 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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1,142,915 | 1,136,451 | |||
Current assets | ||||
Cash at bank and in hand |
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1 | 1 | |||
Creditors | ||||
Amounts falling due within one year | 4 | (
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Net current liabilities | (1,601,204) | (1,605,934) | ||
Total assets less current liabilities | (458,289) | (469,483) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 5 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Directors' responsibilities:
The financial statements of Caesar Subsidiary 2 Limited (registered number:
Mr D R Cavanagh
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Caesar Subsidiary 2 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is One, Glass Wharf, Bristol, BS2 0ZX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS 102.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £464,230. The Company is supported through loans from the Parent Company, Caementum Holdings Limited.
The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Bricklane Residential REIT Plc, the investment, is being wound down and the directors of Caesar Subsidiary 2 Limited expect to receive net asset value in return for the shares held. All dividends received from the investment company were paid to the parent company and will continue to be set against the loan balance due to the parent company.
Caesar Subsidiary 2 Limited will remain active until all of the shares in Bricklane Residential REIT Plc have been disposed to maximise shareholder return.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Investments
Investments in equity shares (which are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Listed investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 January 2021 |
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Movement in fair value |
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At 31 December 2021 |
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Provisions for impairment | |||
At 01 January 2021 |
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At 31 December 2021 |
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Carrying value at 31 December 2021 |
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Carrying value at 31 December 2020 |
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The fair value of listed investments was determined with reference to the quoted market price (NAV) at the reporting date.
2021 | 2020 | ||
£ | £ | ||
Amounts owed to Parent undertakings |
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Accruals |
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2021 | 2020 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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The company has taken advantage of the exemption under FRS 102 not to disclose transactions between wholly owned group companies.
Parent Company:
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Po Box 521, 9 Burrard Street, St Helier, Jersey, JE4 5UE. |