REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
CEDARBRANCH LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
CEDARBRANCH LIMITED |
CEDARBRANCH LIMITED (REGISTERED NUMBER: 01747063) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
CEDARBRANCH LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
6 Manor Park Business Centre |
Mackenzie Way |
Cheltenham |
Gloucestershire |
GL51 9TX |
CEDARBRANCH LIMITED (REGISTERED NUMBER: 01747063) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2023 |
31.8.23 | 31.8.22 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Non-distributable reserve | 6 |
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. |
CEDARBRANCH LIMITED (REGISTERED NUMBER: 01747063) |
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
31 AUGUST 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
CEDARBRANCH LIMITED (REGISTERED NUMBER: 01747063) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Cedarbranch Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The company had net liabilities and net current liabilities at the year-end. The director has considered the working capital needs of the company for a period of greater than twelve months from the date of approval of these financial statements. The director concluded that they will be able to generate sufficient working capital funding through the support of themselves and other companies that they control to enable this company to operate as a going concern. As a result the director considers it appropriate to prepare these financial statements on the going concern basis of accounting. |
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. |
An amount equal to any upwards revaluation, net of the associated provision for deferred taxation, is transferred to a non-distributable reserve. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 statement of financial position date. |
CEDARBRANCH LIMITED (REGISTERED NUMBER: 01747063) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2022 |
Revaluations | 160,000 |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
Fair value at 31 August 2023 is represented by: |
£ |
Valuation in 2023 | 160,000 |
Cost | 40,001 |
200,001 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.23 | 31.8.22 |
value: | £ | £ |
Ordinary £1 | £1 | 1,000 | 1,000 |
CEDARBRANCH LIMITED (REGISTERED NUMBER: 01747063) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
6. | RESERVES |
Non-distributable |
reserve |
£ |
Revaluation | 160,000 |
Transfer between reserves | (40,000 | ) |
At 31 August 2023 |
7. | RELATED PARTY DISCLOSURES |
Watin Limited |
Fellow subsidiary company |
In a previous period, the related party purchased land from this company on an arm's length basis, which has been paid in full during the year. At the year end £nil (2022: £1,000) was due from the related party. |
Crystalight Limited |
Parent company |
The related party paid costs on behalf of this company on an arm's length basis. At the year end £325,867 (2022: £41,926) was due to the related party and is included in 'amounts due to group undertakings' in these financial statements. This debt is unsecured; no terms of interest or repayment have been agreed. |
H Kaveh Baghbadrani |
Shareholder and sole director of the company |
The director has advanced further funds to the company to cover working capital. At the year end there was a balance owing to the director of £40,086 (2022: £40,086), which is included in 'other creditors' in these financial statements. This debt is unsecured; no terms of interest or repayment have been agreed. |
Ellingham House Flats Limited |
Company under common control |
The related party paid costs on behalf of this company on an arm's length basis. At the year end £84 (2022: £134) was due to the related party and is included in 'other creditors' in these financial statements. This debt is unsecured; no terms of interest or repayment have been agreed. |
Mirkamali Limited |
Company under common control |
The related party borrowed money from this company on an arm's length basis. At the year end £20 (2022: £20) was due from the related party and is included in 'other debtors' in these financial statements. This debt is unsecured; no terms of interest or repayment have been agreed. |
Abbey College in Malvern Limited |
Company under common control |
The related party borrowed money from this company on an arm's length basis. At the year end £380 was due from the related party and is included in 'other debtors' in these financial statements. This debt is unsecured; no terms of interest or repayment have been agreed. |