Company registration number 04806696 (England and Wales)
Cameron Ventures (Cedars) Limited
Financial Statements
For the year ended 31 August 2023
PAGES FOR FILING WITH REGISTRAR
Cameron Ventures (Cedars) Limited
Contents
Page
Company information
Balance sheet
1
Notes to the financial statements
2 - 5
Cameron Ventures (Cedars) Limited
Balance sheet
For the year ended 31 August 2023
2023-08-31
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,041,935
1,063,259
Current assets
Stocks
946
3,942
Debtors
4
17,537
72,741
Cash at bank and in hand
141,716
60,176
160,199
136,859
Creditors: amounts falling due within one year
5
(187,521)
(188,249)
Net current liabilities
(27,322)
(51,390)
Total assets less current liabilities
1,014,613
1,011,869
Creditors: amounts falling due after more than one year
6
(47,524)
(93,664)
Net assets
967,089
918,205
Capital and reserves
Called up share capital
672,751
672,751
Profit and loss reserves
294,338
245,454
Total equity
967,089
918,205

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 9 April 2024
Mr B A Keane
Director
Company registration number 04806696 (England and Wales)
Cameron Ventures (Cedars) Limited
Notes to the Financial Statements
For the year ended 31 August 2023
- 2 -
1
Accounting policies
Company information

Cameron Ventures (Cedars) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Hertfordshire, AL1 1LJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has

therefore taken advantage of exemption the requirement to present a statement of cash flow and related notes.

 

The financial statements of the company are consolidated in the financial statements of Cameron Ventures Hotels Limited. These consolidated financial statements are available from its registered office (address on page 1).

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Hotel accommodation income is recognised for each night as it takes place at the room rate for that night. Food and beverage income is recognised on the day provided to the customer at the price for the items purchased.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
2% straight line
Furniture, fixtures and equipment
10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cameron Ventures (Cedars) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

 

Basic financial liabilities

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Cameron Ventures (Cedars) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
8
9
3
Tangible fixed assets
Freehold property
Furniture, fixtures and equipment
Total
£
£
£
Cost
At 1 September 2022
1,119,070
137,193
1,256,263
Additions
-
0
750
750
At 31 August 2023
1,119,070
137,943
1,257,013
Depreciation and impairment
At 1 September 2022
83,969
109,035
193,004
Depreciation charged in the year
17,389
4,685
22,074
At 31 August 2023
101,358
113,720
215,078
Carrying amount
At 31 August 2023
1,017,712
24,223
1,041,935
At 31 August 2022
1,035,101
28,158
1,063,259
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,993
54,355
Other debtors
11,544
18,386
17,537
72,741
Cameron Ventures (Cedars) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
52,520
25,049
Amounts owed to group undertakings
79,228
79,228
Taxation and social security
30,390
48,140
Other creditors
25,383
35,832
187,521
188,249
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings
47,524
93,664
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Amanda Ruggles
Statutory Auditor:
Gilberts Chartered Accountants
Date of audit report:
9 April 2024
8
Financial commitments, guarantees and contingent liabilities

A cross guarantee exists between the company, its parent undertaking and fellow subsidiary undertakings for all bank overdrafts within the group and the bank loan in Cameron Ventures Hotels Limited. At 31 August 2023 the total borrowings in the group were £4,175,000 and these are not expected to result in any loss to the Company.

 

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