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REGISTERED NUMBER: 03514731 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

CANTAY ESTATES LIMITED

CANTAY ESTATES LIMITED (REGISTERED NUMBER: 03514731)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CANTAY ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: E J S Gadsden
A M Nolan
S Gadsden





SECRETARY: C Gadsden





REGISTERED OFFICE: Hawridge Place
Hawridge
Chesham
Buckinghamshire
HP5 2UG





REGISTERED NUMBER: 03514731 (England and Wales)





AUDITORS: EV Accountants Limited
Chartered Accountants & Statutory Auditors
Unit 201, Second Floor
Metroline House
118-122 College Road
Harrow
Middlesex
HA1 1BQ

CANTAY ESTATES LIMITED (REGISTERED NUMBER: 03514731)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 9,049 6,164
Investments 5 2,110,039 2,110,039
2,119,088 2,116,203

CURRENT ASSETS
Stocks 6 12,111,833 11,845,160
Debtors 7 9,518,697 10,172,845
Cash at bank and in hand 150,680 55,955
21,781,210 22,073,960
CREDITORS
Amounts falling due within one year 8 (3,388,429 ) (5,170,905 )
NET CURRENT ASSETS 18,392,781 16,903,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,511,869

19,019,258

CAPITAL AND RESERVES
Called up share capital 9 143 143
Retained earnings 10 20,511,726 19,019,115
SHAREHOLDERS' FUNDS 20,511,869 19,019,258

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

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 and authorised for issue on 28 September 2023 and were signed on its behalf by:





A M Nolan - Director


CANTAY ESTATES LIMITED (REGISTERED NUMBER: 03514731)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Cantay Estates 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis as the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements.

Group accounts
The company forms part of a small group. The parent company has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced for sale of land and buildings and rental income during the year, exclusive of Value Added Tax (VAT).

Turnover from sale of land and buildings is recognised at the completion date when the title passes to the buyer. Rental income is recognised on a receivable basis based on the period of occupancy by the tenants..

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

All fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

CANTAY ESTATES LIMITED (REGISTERED NUMBER: 03514731)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

CANTAY ESTATES LIMITED (REGISTERED NUMBER: 03514731)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2022 8,592 7,000 9,184 24,776
Additions 1,712 - 6,356 8,068
At 31 December 2022 10,304 7,000 15,540 32,844
DEPRECIATION
At 1 January 2022 5,374 7,000 6,238 18,612
Charge for year 1,403 - 3,780 5,183
At 31 December 2022 6,777 7,000 10,018 23,795
NET BOOK VALUE
At 31 December 2022 3,527 - 5,522 9,049
At 31 December 2021 3,218 - 2,946 6,164

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 2,110,039
NET BOOK VALUE
At 31 December 2022 2,110,039
At 31 December 2021 2,110,039

The company's investments at the Balance Sheet date in the share capital of companies include the following:

19 BTR Limited
Registered office: Hawridge Place, Hawridge, Chesham, Buckinghamshire, HP5 2UG
Nature of business: Property developers
%
Class of shares: holding
Ordinary 100.00
2022 2021
£    £   
Aggregate capital and reserves 1,258 (3,693 )
Profit/(loss) for the year 4,951 (2,435 )

CANTAY ESTATES LIMITED (REGISTERED NUMBER: 03514731)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

5. FIXED ASSET INVESTMENTS - continued

Raypat Limited
Registered office: Unit 201, Second Floor, Metroline House, 118-122 College Road, Harrow, Middlesex, HA1 1BQ
Nature of business: Property rental
%
Class of shares: holding
Ordinary 1 GBP 100.00
2022 2021
£    £   
Aggregate capital and reserves 1,178,417 1,144,430
Profit for the year 33,987 32,531

The company acquired 100% shareholding in Raypat Limited on 28 January 2021.

6. STOCKS
2022 2021
£    £   
Work-in-progress 12,111,833 11,845,160

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 34,701 2,190,624
Amounts owed by group undertakings 9,294,631 7,914,219
Amounts owed by connected companies 5,298 -
Other debtors 184,067 68,002
9,518,697 10,172,845

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 50,512 2,226,856
Amounts owed to group undertakings 2,952,159 2,316,419
Taxation and social security 367,629 599,326
Other creditors 18,129 28,304
3,388,429 5,170,905

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
143 Ordinary £1 143 143

10. RESERVES
Retained
earnings
£   

At 1 January 2022 19,019,115
Profit for the year 1,492,611
At 31 December 2022 20,511,726

CANTAY ESTATES LIMITED (REGISTERED NUMBER: 03514731)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

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

The Report of the Auditors was unqualified.

Binoy Mistry BA FCA (Senior Statutory Auditor)
for and on behalf of EV Accountants Limited

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Amounts owed by connected companies include £5,298 (2021 - £Nil) which is due from Blackridge South Parade Ltd, a company in which E J S Gadsden, A M Nolan and S Gadsden are directors.

13. ULTIMATE CONTROLLING PARTY

The immediate parent company is Cantay Group Limited, and the ultimate parent company is W.E.Black Limited, whose registered office is Hawridge Place, Hawridge Common, Hawridge, Chesham, Buckinghamshire, HP5 2ZD.

The accounts of the company are included in the consolidated accounts of W.E.Black Limited. The consolidated accounts of W.E.Black Limited can be obtained from its registered office.

The ultimate controlling party is E J S Gadsden, who is a director and majority shareholder of W.E.Black Limited.