Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12016484 Mr Philip Stapleton Ms Amanda Mott Mr P and Mrs J Stapleton false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12016484 2023-03-31 12016484 2024-03-31 12016484 2023-04-01 2024-03-31 12016484 frs-core:CurrentFinancialInstruments 2024-03-31 12016484 frs-core:Non-currentFinancialInstruments 2024-03-31 12016484 frs-core:FurnitureFittings 2023-04-01 2024-03-31 12016484 frs-core:ShareCapital 2024-03-31 12016484 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12016484 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12016484 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 12016484 frs-bus:SmallEntities 2023-04-01 2024-03-31 12016484 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12016484 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12016484 1 2023-04-01 2024-03-31 12016484 frs-core:DeferredTaxation 2023-04-01 2024-03-31 12016484 frs-core:DeferredTaxation 2023-03-31 12016484 frs-core:DeferredTaxation 2024-03-31 12016484 frs-bus:Director1 2023-04-01 2024-03-31 12016484 frs-bus:Director2 2023-04-01 2024-03-31 12016484 frs-countries:EnglandWales 2023-04-01 2024-03-31 12016484 2022-03-31 12016484 2023-03-31 12016484 2022-04-01 2023-03-31 12016484 frs-core:CurrentFinancialInstruments 2023-03-31 12016484 frs-core:Non-currentFinancialInstruments 2023-03-31 12016484 frs-core:ShareCapital 2023-03-31 12016484 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12016484
Cathedral & Quay Portfolio Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
SPF Accountancy Ltd t/a Waterman Brown
Unit 14 Dunchideock Barton
Dunchideock
Exeter
EX2 9UA
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 12016484
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 34,597 47,727
34,597 47,727
CURRENT ASSETS
Debtors 308,841 568,606
Cash at bank and in hand 127,931 57,367
436,772 625,973
Creditors: Amounts Falling Due Within One Year (56,962 ) (294,570 )
NET CURRENT ASSETS (LIABILITIES) 379,810 331,403
TOTAL ASSETS LESS CURRENT LIABILITIES 414,407 379,130
Creditors: Amounts Falling Due After More Than One Year (14,049 ) (24,176 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,227 ) (6,823 )
NET ASSETS 394,131 348,131
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 394,031 348,031
SHAREHOLDERS' FUNDS 394,131 348,131
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Philip Stapleton
Director
Ms Amanda Mott
Director
21/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Cathedral & Quay Portfolio Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12016484 . The registered office is Unit 3 Ulysses House, Heron Road, Exeter, EX2 7PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on cost
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 117,561
Additions 1,457
As at 31 March 2024 119,018
Depreciation
As at 1 April 2023 69,834
Provided during the period 14,587
As at 31 March 2024 84,421
Net Book Value
As at 31 March 2024 34,597
As at 1 April 2023 47,727
5. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 April 2023 6,823 6,823
Utilised (596 ) (596)
Balance at 31 March 2024 6,227 6,227
6. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 100 100
Amount of Allotted, Called Up Share Capital 100 100
7. Related Party Transactions
130 Taunton RoadMrs J Stapleton and Ms A Mott are directors and have a material interest.During the year the company was involved in trading transactions with 130 Taunton Road Ltd. At the balance sheet date the amount due from 130 Taunton Road Ltd was £2,070 (2023: £60,058). No interest is currently charged in respect of this loan.

130 Taunton Road

Mrs J Stapleton and Ms A Mott are directors and have a material interest.

During the year the company was involved in trading transactions with 130 Taunton Road Ltd. At the balance sheet date the amount due from 130 Taunton Road Ltd was £2,070 (2023: £60,058). No interest is currently charged in respect of this loan.

Situ Living LtdMr P and Mrs J Stapleton and Ms A Mott are directors and have a material interest.During the year the company was involved in trading transactions with Situ Living Ltd. At the balance sheet date the amount due from Situ Living Ltd was £292,862 (2023: £156,482). No interest is currently charged in respect of this loan.

Situ Living Ltd

Mr P and Mrs J Stapleton and Ms A Mott are directors and have a material interest.

During the year the company was involved in trading transactions with Situ Living Ltd. At the balance sheet date the amount due from Situ Living Ltd was £292,862 (2023: £156,482). No interest is currently charged in respect of this loan.

8. Controlling Party
The company's controlling party is Mr P and Mrs J Stapleton by virtue of their beneficial ownership of 95% of the issued share capital in the company.
Page 4