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COMPANY REGISTRATION NUMBER: 10018122
CAYUGA 001 LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
CAYUGA 001 LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Current assets
Debtors
4
86,418
130,634
Cash at bank and in hand
2
83
---------
----------
86,420
130,717
Creditors: amounts falling due within one year
5
39,601
84,695
---------
----------
Net current assets
46,819
46,022
---------
---------
Total assets less current liabilities
46,819
46,022
Creditors: amounts falling due after more than one year
6
24,873
26,667
---------
---------
Net assets
21,946
19,355
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
21,944
19,353
---------
---------
Shareholders funds
21,946
19,355
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CAYUGA 001 LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 19 December 2024 , and are signed on behalf of the board by:
Mr E Deedman
Director
Company registration number: 10018122
CAYUGA 001 LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is Cayuga House, 2A Addison Road, Hove, East Sussex, BN3 1TN. The principal activity of the company during the year was that of property development.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's directors, investors and bank.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Revenue recognition
A sale is recognised for accounting purposes when there has been an unconditional exchange of contracts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
85,000
Other debtors
86,418
45,634
---------
----------
86,418
130,634
---------
----------
Other debtors include £85,000 recoverable due to a dividend being paid in excess of the legally distributable reserves of the company.
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,999
10,000
Corporation tax
21,511
20,037
Other creditors
8,091
54,658
---------
---------
39,601
84,695
---------
---------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
24,873
26,667
---------
---------
The bank loans outstanding at the year end are secured by legal charges over the assets of the company.