REGISTERED NUMBER: |
Edmiston Cara House Ltd |
Unaudited Financial Statements |
for the Year Ended 29th June 2024 |
REGISTERED NUMBER: |
Edmiston Cara House Ltd |
Unaudited Financial Statements |
for the Year Ended 29th June 2024 |
Edmiston Cara House Ltd (Registered number: 14127793) |
Contents of the Financial Statements |
for the year ended 29th June 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 3 | to | 5 |
Edmiston Cara House Ltd |
Company Information |
for the year ended 29th June 2024 |
Directors: |
Registered office: |
Business address: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
Edmiston Cara House Ltd (Registered number: 14127793) |
Balance Sheet |
29th June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The directors acknowledge their 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Edmiston Cara House Ltd (Registered number: 14127793) |
Notes to the Financial Statements |
for the year ended 29th June 2024 |
1. | Statutory information |
Edmiston Cara House Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end. |
Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Fixtures and fittings | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank loans, other loans and directors' loans. |
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors' loans (being repayable on demand), trade debtors, trade creditors, accruals and other loans are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date. |
Edmiston Cara House Ltd (Registered number: 14127793) |
Notes to the Financial Statements - continued |
for the year ended 29th June 2024 |
2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
The company has a deficit on the balance sheet and relies on the support of its lenders and group companies, which has been confirmed for a period of at least twelve months from the approval of the financial statements. The company is now producing an operating surplus and is in the process of refinancing its long term debt. Accordingly the financial statements have been prepared on the going concern basis. |
3. | Employees and directors |
The average number of employees during the year was NIL (2023 - NIL). |
4. | Tangible fixed assets |
Improvements | Fixtures |
Freehold | to | and |
property | property | fittings | Totals |
£ | £ | £ | £ |
Cost |
At 30th June 2023 |
Additions |
At 29th June 2024 |
Depreciation |
Charge for year |
At 29th June 2024 |
Net book value |
At 29th June 2024 |
At 29th June 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Edmiston Cara House Ltd (Registered number: 14127793) |
Notes to the Financial Statements - continued |
for the year ended 29th June 2024 |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
Mipco Limited holds a charge over Cara House, 44 Castlegate, Berwick-Upon-Tweed. |
Romaco SPV 2 Limited holds a charge over Cara House, 44 Castlegate, Berwick-Upon-Tweed and all undertaking of the company. |
8. | Directors' advances, credits and guarantees |
The following advances and credits to directors subsisted during the year ended 29th June 2024 and the period ended 29th June 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
This loan is unsecured and repayable on demand. Interest is charged by the company at the official rate published by HMRC. |