REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 October 2024 |
for |
Cargo Associates Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 October 2024 |
for |
Cargo Associates Limited |
Cargo Associates Limited (Registered number: 07053965) |
Contents of the Financial Statements |
for the Year Ended 31 October 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Cargo Associates Limited |
Company Information |
for the Year Ended 31 October 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Registered Auditors |
Chartered Accountants |
First Floor, West Barn |
North Frith Farm, Ashes Lane |
Hadlow |
Tonbridge |
Kent |
TN11 9QU |
Cargo Associates Limited (Registered number: 07053965) |
Balance Sheet |
31 October 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
ASSETS |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
9,458,618 | 9,672,740 |
CAPITAL, RESERVES AND LIABILITIES |
CAPITAL & RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
CREDITORS | 9 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Cargo Associates Limited (Registered number: 07053965) |
Notes to the Financial Statements |
for the Year Ended 31 October 2024 |
1. | STATUTORY INFORMATION |
Cargo Associates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents rents receivable in respect of the period. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Cargo Associates Limited (Registered number: 07053965) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2023 |
and 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
and 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
5. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
COST OR VALUATION |
At 1 November 2023 |
Additions |
Disposals | ( |
) |
Revaluations |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
Cost or valuation at 31 October 2024 is represented by: |
Listed |
investments |
£ |
Valuation in 2024 | 5,480,450 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2023 |
Fair value adjustment | 289,346 |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
Fair value at 31 October 2024 is represented by: |
£ |
Valuation in 2024 | 1,972,500 |
Cargo Associates Limited (Registered number: 07053965) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: |
£ | £ |
569,750 | A Ordinary | £1 | 569,750 | 569,750 |
569,750 | B Ordinary | £1 | 569,750 | 569,750 |
1,053,500 | C Ordinary | £1 | 1,053,500 | 1,053,500 |
1,053,500 | D Ordinary | £1 | 1,053,500 | 1,053,500 |
1,053,500 | E Ordinary | £1 | 1,053,500 | 1,053,500 |
4,300,000 | Redeemable Preference | £1 | 4,300,000 | 4,300,000 |
8,600,000 | 8,600,000 |
The Redeemable Preference Shares are redeemable at the discretion of the directors. |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security & other taxes |
Other creditors |
Directors' current accounts | 985,348 | 1,813,968 |
Accrued expenses |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |