2023-02-012024-01-312024-01-31false11001908CEDAR GB PROPERTY 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CEDAR GB PROPERTY LIMITED

Registered Number
11001908
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

CEDAR GB PROPERTY LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

GITTINS, Mark

Registered Address

128 City Road
London
EC1V 2NX

Registered Number

11001908 (England and Wales)
CEDAR GB PROPERTY LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets312,37516,505
12,37516,505
Current assets
Stocks41,035,688-
Debtors516,9739,970
Cash at bank and on hand42,1011,344,615
1,094,7621,354,585
Creditors amounts falling due within one year6(619,361)(847,551)
Net current assets (liabilities)475,401507,034
Total assets less current liabilities487,776523,539
Net assets487,776523,539
Capital and reserves
Called up share capital1010
Profit and loss account487,766523,529
Shareholders' funds487,776523,539
The financial statements were approved and authorised for issue by the Director on 28 October 2024, and are signed on its behalf by:
GITTINS, Mark
Director
Registered Company No. 11001908
CEDAR GB PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Vehicles25-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 February 2318,00073318,733
At 31 January 2418,00073318,733
Depreciation and impairment
At 01 February 231,5007282,228
Charge for year4,12554,130
At 31 January 245,6257336,358
Net book value
At 31 January 2412,375-12,375
At 31 January 2316,500516,505
4.Stocks

2024

2023

££
Work in progress1,035,688-
Total1,035,688-
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables3,0593,820
Other debtors32-
Prepayments and accrued income13,0006,150
Deferred tax asset, debtors882-
Total16,9739,970
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables22,53322,035
Amounts owed to related parties591,469773,383
Taxation and social security1946,768
Other creditors367367
Accrued liabilities and deferred income4,9734,998
Total619,361847,551
7.Controlling party
The controlling party is Cedar (GB) Group Limited.