Cabe Property Limited 08636704 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is the letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true 08636704 2021-01-01 2021-12-31 08636704 2021-12-31 08636704 core:RetainedEarningsAccumulatedLosses 2021-12-31 08636704 core:ShareCapital 2021-12-31 08636704 core:CurrentFinancialInstruments 2021-12-31 08636704 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 08636704 bus:SmallEntities 2021-01-01 2021-12-31 08636704 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 08636704 bus:FullAccounts 2021-01-01 2021-12-31 08636704 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 08636704 bus:RegisteredOffice 2021-01-01 2021-12-31 08636704 bus:CompanySecretary1 2021-01-01 2021-12-31 08636704 bus:Director2 2021-01-01 2021-12-31 08636704 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 08636704 countries:EnglandWales 2021-01-01 2021-12-31 08636704 2020-01-01 2020-12-31 08636704 2020-12-31 08636704 core:RetainedEarningsAccumulatedLosses 2020-12-31 08636704 core:ShareCapital 2020-12-31 08636704 core:CurrentFinancialInstruments 2020-12-31 08636704 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 iso4217:GBP xbrli:pure

Registration number: 08636704

Cabe Property Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Cabe Property Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 5

 

Cabe Property Limited

Company Information

Director

JM Elliott MBE

Company secretary

P Petty

Registered office

Ebac Limited Ketton Way
Aycliffe Industrial Park
Newton Aycliffe
Durham
DL5 6SQ

Accountants

Azets
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS

 

Cabe Property Limited

(Registration number: 08636704)
Statement of Financial Position as at 31 December 2021

Note

2021
£

2020
£

Current assets

 

Debtors

3

2,617,115

2,615,702

Cash at bank and in hand

 

22,515

19,320

 

2,639,630

2,635,022

Creditors: Amounts falling due within one year

4

(1,948,570)

(1,941,751)

Net assets

 

691,060

693,271

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

690,960

693,171

Total equity

 

691,060

693,271

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised for issue by the director on 17 October 2023
 

.........................................
JM Elliott MBE
Director

 

Cabe Property Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is Ebac Limited Ketton Way, Aycliffe Industrial Park, Newton Aycliffe, Durham, DL5 6SQ.

2

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.

These financial statements are prepared in sterling which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of investment property. Turnover is shown net of value added tax, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Cabe Property Limited

Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2020 - 0).

3

Debtors

2021
£

2020
£

Trade debtors

7,712

2,052

Other debtors

2,609,403

2,613,650

2,617,115

2,615,702

 

Cabe Property Limited

Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)

4

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

3,054

-

Accruals and deferred income

6,040

4,725

Other creditors

1,929,689

1,925,753

Corporation tax liability

9,787

11,273

1,948,570

1,941,751

5

Related party transactions

The company is related to J C Laverick by virtue of being a shareholder of the company, in previous years he made loans to the company. Interest of £7,699 (2020: £7,627) was charged on this loan. At the year end the balance included within other creditors amounted to £315,673 (2020: £307,974).

The company is related to M R Elliott by virtue of being an immediate family member of the director, in previous years she made loans to the company. Interest of £36,237 (2020: £34,186) was charged on this loan. At the year end the balance included within other creditors amounted to £544,945 (2020: £508,709).

The company is related to P Elliott by virtue of being a shareholder of the company, in previous years he made loans to the company. At the year end the balance included within other creditors amounted to £169,690 (2020: £169,690). No interest has been charged on such loan.

The company is related to P Petty by virtue of being a shareholder of the company, in previous years she made loans to the company. At the year end the balance included within other creditors amounted to £454,690 (2020: £494,690). No interest has been charged on such loan.

The company is related to A Hird by virtue of being a shareholder of the company, in previous years she made loans to the company. At the year end the balance included within other creditors amounted to £444,690 (2020: £444,690). No interest has been charged on such loan.

The company is related to Wear Valley Renewables C.I.C by virtue of common director J M Elliott MBE. During 2014 the company made loans to Wear Valley Renewables C.I.C at an interest rate of 8%. At the year end the amount due included within other debtors amounted to £50,588 (2020: £96,898) after interest charge of £3,690 (2020: £7,178).

The company is related to Ebac Limited by virtue of common director J M Elliott MBE. During the period service charges of £44,330 (2020: £25,454) were invoiced to Ebac Limited. At the year end the amount included within trade debtors amounted to £7,712 (2020: £2,053). Ebac Limited have an outstanding loan with Cabe Property of £2,558,295 (2020: £2,516,389) at the year end of which is included within other debtors.