Company Registration No. 12050706 (England and Wales)
Caden Property Services Ltd
Unaudited accounts
for the year ended 31 May 2024
Caden Property Services Ltd
Unaudited accounts
Contents
Caden Property Services Ltd
Company Information
for the year ended 31 May 2024
Directors
Paul Caden
Aline Faivre-Pierret
Company Number
12050706 (England and Wales)
Registered Office
8 Percy Street
Rotherham
South Yorkshire
S65 1ED
Caden Property Services Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
1,411
18,222
Cash at bank and in hand
7,081
241
Creditors: amounts falling due within one year
(62,871)
(70,852)
Net current liabilities
(43,216)
(51,797)
Net liabilities
(41,805)
(33,575)
Called up share capital
2
2
Profit and loss account
(41,807)
(33,577)
Shareholders' funds
(41,805)
(33,575)
For the year ending 31 May 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by
Aline Faivre-Pierret
Director
Company Registration No. 12050706
Caden Property Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
Caden Property Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 12050706. The registered office is 8 Percy Street, Rotherham, South Yorkshire, S65 1ED.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention modified to include the revaluation of certain fixed assets.
At the time of approving the financial statements, despite the current liability position of the company, it is still considered a going concern due to ongoing continued support from the directors. The directors have a reasonable expectation that the company shall continue in operational existence for the foreseeable future, thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, for goods and services provided in the normal course of business.
The accounts are prepared in sterling, which is this functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 substantive 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.
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 defend 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.
Caden Property Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
Tangible fixed assets and depreciation
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 & fittings
20% Straight Line
Computer equipment
20% Straight Line
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities..
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2023
1,932
21,894
23,826
Disposals
-
(21,894)
(21,894)
At 31 May 2024
2,181
-
2,181
At 1 June 2023
506
5,098
5,604
Charge for the year
264
-
264
On disposals
-
(5,098)
(5,098)
At 31 May 2024
1,411
-
1,411
At 31 May 2023
1,426
16,796
18,222
Amounts falling due within one year
Deferred tax asset
9,779
6,752
Accrued income and prepayments
-
1,612
Other debtors
2,795
(37,250)
Caden Property Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
7,765
Amounts owed to group undertakings and other participating interests
17,113
18,998
Taxes and social security
(165)
-
Loans from directors
33,246
35,381
7
Deferred taxation
2024
2023
Accelerated capital allowances
(8,945)
(6,752)
Other deferred taxation
(834)
-
Provision at start of year
(6,752)
-
Credited to the profit and loss account
(3,027)
(6,752)
Provision at end of year
(9,779)
(6,752)
The directors have loaned money to the company.
At the balance sheet date, the amount owed to the directors was £33,246 (2023 - £35,381).
Interest has been charged at a rate of 6%. The loans are repayable on demand.
9
Transactions with related parties
During the period the company borrowed money from a related party. At the balance sheet date, the amount owed to the related party was £17,113 (2023 - £18,998).
No interest has been charged and there is no set date for repayment.
The parent undertaking is Caden Property Group Limited whose registered office and business address is 8 Percy Street, Rotherham, South Yorkshire, S65 1ED.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).