REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 MARCH 2023 |
FOR |
CEDARWAY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 MARCH 2023 |
FOR |
CEDARWAY LIMITED |
CEDARWAY LIMITED (REGISTERED NUMBER: 03192677) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 29 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CEDARWAY LIMITED |
COMPANY INFORMATION |
for the Year Ended 29 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Beckside Court |
Annie Reed Road |
Beverley |
East Yorkshire |
HU17 0LF |
CEDARWAY LIMITED (REGISTERED NUMBER: 03192677) |
BALANCE SHEET |
29 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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. |
CEDARWAY LIMITED (REGISTERED NUMBER: 03192677) |
BALANCE SHEET - continued |
29 March 2023 |
The financial statements were approved by the director and authorised for issue on |
CEDARWAY LIMITED (REGISTERED NUMBER: 03192677) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 29 March 2023 |
1. | STATUTORY INFORMATION |
Cedarway Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office Beckside Court, Annie Reed Road, Beverley, East Yorkshire, HU17 0LF and principle place of business at 95-97 Prospect Street, Hull, HU1 3RT. |
The principal activity of the Company is that of bar/restaurant property management. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Having regard to liquidity risk, current market conditions and other factors affecting the company including the Covid-19, the use of the going concern basis of accounting is appropriate as, in the opinion of the director, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CEDARWAY LIMITED (REGISTERED NUMBER: 03192677) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 March 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 30 March 2022 |
and 29 March 2023 |
DEPRECIATION |
At 30 March 2022 |
and 29 March 2023 |
NET BOOK VALUE |
At 29 March 2023 |
At 29 March 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 30 March 2022 |
and 29 March 2023 |
NET BOOK VALUE |
At 29 March 2023 |
At 29 March 2022 |
The directors review investment properties annually and consider the valuation to be fairly stated. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
CEDARWAY LIMITED (REGISTERED NUMBER: 03192677) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 March 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 9) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | 22,021 | 24,182 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | 22,021 | 24,182 |
The company has ulilised the government covid support scheme during the prior year and taken out a loan of £50,000 under the Bounce Back Loan scheme. The loan is repayable over 11 years with the first year interest and repayment free. The loan carries interest at 2.5% pa over base. |
CEDARWAY LIMITED (REGISTERED NUMBER: 03192677) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 March 2023 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Within other creditors is a loan to the company from its director, S Hammada. The balance outstanding at 29 March 2023 was £28,514 (2022: £64,099). |
The loan was made on an interest free basis and is repayable on demand. |
11. | RELATED PARTY DISCLOSURES |
Included in other debtors is a loan to Dial Yankee Limited, a company under common control. The balance outstanding at 29 March 2023 was £94,139 (2022: £89,139). The amount is repayable on demand. |
12. | ULTIMATE CONTROLLING PARTY |
The company is controlled by family members of the director. |