Registration number:
CAM (The Wharf) Ltd
(A company limited by guarantee)
for the Year Ended 31 January 2023
CAM (The Wharf) Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
CAM (The Wharf) Ltd
Company Information
Director |
Mrs A J E Court |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
CAM (The Wharf) Ltd
for the Year Ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CAM (The Wharf) Ltd for the year ended 31 January 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of CAM (The Wharf) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CAM (The Wharf) Ltd and state those matters that we have agreed to state to the Board of Directors of CAM (The Wharf) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CAM (The Wharf) Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that CAM (The Wharf) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CAM (The Wharf) Ltd. You consider that CAM (The Wharf) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of CAM (The Wharf) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP
CAM (The Wharf) Ltd
(Registration number: 03146306)
Balance Sheet as at 31 January 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Reserves |
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Retained earnings |
(13,321) |
(29,500) |
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Deficit |
(13,321) |
(29,500) |
CAM (The Wharf) Ltd
(Registration number: 03146306)
Balance Sheet as at 31 January 2023
For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mrs A J E Court
Director
CAM (The Wharf) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023
General information |
The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
As at the year end, the company's balance sheet shows net current liabilities of £35,819 (2022: £53,752) and an overall deficiency of assets amounting of £13,321 (2022:£29,500). Accordingly, the directors have considered the basis upon which the accounts should be prepared and determine whether a going concern basis remains appropriate. The accounts have been prepared on a going concern basis as the directors will continue to provide financial support when necessary to the company. The directors have also reviewed the position for 12 months from the date the accounts were approved and in their opinion the company will reduce the balance sheet deficiency and will show positive results for the next financial period.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Other grants
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
CAM (The Wharf) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023
Asset class |
Depreciation method and rate |
Fitting out costs |
34 years straight line |
Fixtures and fittings |
15 years straight line |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Lease |
34 years straight line |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit/loss before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
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Depreciation expense |
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Amortisation expense |
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Intangible assets |
Lease Premium
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Total |
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Cost or valuation |
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At 1 February 2022 |
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At 31 January 2023 |
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Amortisation |
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At 1 February 2022 |
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Amortisation charge |
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At 31 January 2023 |
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Carrying amount |
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At 31 January 2023 |
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At 31 January 2022 |
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CAM (The Wharf) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023
Tangible assets |
Furniture, fittings and equipment |
Fitting out costs
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Total |
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Cost or valuation |
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At 1 February 2022 |
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Additions |
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- |
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At 31 January 2023 |
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Depreciation |
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At 1 February 2022 |
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Charge for the year |
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At 31 January 2023 |
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Carrying amount |
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At 31 January 2023 |
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At 31 January 2022 |
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Debtors |
2023 |
2022 |
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Prepayments |
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Other debtors |
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Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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The bank loan and overdraft are both secured by Personal Guarantees from the director which are supported by a Second Charge over her residential property.
CAM (The Wharf) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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