Company registration number 04668129 (England and Wales)
CEDAR TREE DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CEDAR TREE DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
CEDAR TREE DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
898
1,055
Investment property
5
257,400
257,400
258,298
258,455
Current assets
Stocks
478,613
212,113
Debtors
6
201
23,913
Cash at bank and in hand
41,345
8,033
520,159
244,059
Creditors: amounts falling due within one year
7
(719,650)
(406,179)
Net current liabilities
(199,491)
(162,120)
Total assets less current liabilities
58,807
96,335
Provisions for liabilities
(1,820)
(1,885)
Net assets
56,987
94,450
Capital and reserves
Called up share capital
120
120
Revaluation reserve
23,126
23,126
Profit and loss reserves
33,741
71,204
Total equity
56,987
94,450

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

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CEDAR TREE DEVELOPMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
Mr M D R Wright
Director
Company registration number 04668129 (England and Wales)
CEDAR TREE DEVELOPMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2022
120
23,126
61,035
84,281
Year ended 31 March 2023:
Profit and total comprehensive income
-
-
10,169
10,169
Balance at 31 March 2023
120
23,126
71,204
94,450
Year ended 31 March 2024:
Loss and total comprehensive income
-
-
(12,663)
(12,663)
Dividends
-
-
(24,800)
(24,800)
Balance at 31 March 2024
120
23,126
33,741
56,987
CEDAR TREE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Cedar Tree Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 15 Barnes Croft, Hilderstone, Stone, Staffordshire, ST15 8XU.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
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:

Fixtures and fittings
15% on reducing balance

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.

1.3
Investment property

Investment properties are shown at their most recent valuation. Estimates of fair value are carried out by the Board annually. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement and because the gains are not distributable, they are included within a fair value reserve.

Ground rents are capitalised as tangible fixed assets within Investment Property and are stated at fair value.

1.4
Stocks

Long term projects are assessed on a project by project basis, and are reflected in the profit and loss account by recording turnover and related costs as project activity progresses.

 

Turnover is calculated as being that proportion of the project price attributable to the stage of completion reached. Where it is considered that the outcome of a long term project can be assessed with reasonable certainty before its conclusion then a prudently calculated profit is recognised. This profit is calculated as that proportion of total profit attributable to the stage reached less a provision, if appropriate, for uncertainty of outcome. Related costs recognised in the profit and loss account represent the difference between reported turnover and reported profit. Foreseeable losses are recognised in the period in which they become apparent.

 

Where a project has been completed but individual units remain unsold, no profit is taken on these units. The value of this stock of unsold units is carried forward within stock and work in progress rather than being treated as a debtor for amounts recoverable on a future sale less the creditor for deferred profit on the future sale. In the opinion of the directors this more fairly reflects the actual position.

CEDAR TREE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as cash, trade, and other accounts receivable and payable and loans from banks and other third parties, including related parties.

Basic financial instruments such as those above are recognised in the financial statements at amortised cost.

 

1.6
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases

Rent receivable is from freehold investment properties which are let on operating leases. Rental income, which excludes Value Added Tax, is recognised in the Income Statement on a straight line basis over the period of the lease.

Rents receivable are only recognised when fixed and determinable and when their collectability is reasonably assured.

2
Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities as at the reporting date and the amounts reported for turnover and expenses during the period. The nature of estimating means that actual outcomes could differ from the original estimates.

CEDAR TREE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
1,980
Depreciation and impairment
At 1 April 2023
925
Depreciation charged in the year
157
At 31 March 2024
1,082
Carrying amount
At 31 March 2024
898
At 31 March 2023
1,055
5
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
257,400

Investment properties were valued on a fair value basis as at 31st march 2024 by the directors.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
201
200
Other debtors
-
0
23,713
201
23,913

 

CEDAR TREE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2
2
Corporation tax
2,556
2,429
Other creditors
717,092
403,748
719,650
406,179
8
Related party transactions

During the year the company entered into the following transactions with related parties:

 

Dividends totalling £24,800 (2023:£nil) were paid in the year in respect of shares held by the company directors.

The directors are also directors and shareholders of Home and Colour Centre Limited. During the year the company owes £555,000 (2023: £285,000) to the related party.

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