Company registration number 10059487 (England and Wales)
CAWDOR ESTATES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CAWDOR ESTATES LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
CAWDOR ESTATES LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
66,610
82,867
Investment property
4
11,723,352
10,545,543
11,789,962
10,628,410
Current assets
Stocks
354,186
354,186
Debtors
1,626,692
959,905
Cash at bank and in hand
496,760
243,913
2,477,638
1,558,004
Creditors: amounts falling due within one year
(11,826,376)
(9,941,590)
Net current liabilities
(9,348,738)
(8,383,586)
Total assets less current liabilities
2,441,224
2,244,824
Creditors: amounts falling due after more than one year
-
(12,923)
Provisions for liabilities
(16,653)
(20,718)
Net assets
2,424,571
2,211,183
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
2,424,570
2,211,182
Total equity
2,424,571
2,211,183
CAWDOR ESTATES LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Mrs L C G Morgan
Director
Company registration number 10059487 (England and Wales)
CAWDOR ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Cawdor Estates Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Cawdor, 72 Rhosmaen Street, Llandeilo, United Kingdom, SA19 6EN.

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
Going concern

The company had net current liabilities at the year-end. The company relies on companies under common control, notably its parent company, for working capital funding. The directors have considered the funding required by the company for a period of at least 12 months from the date of approval of these financial statements and determined that, having taken into account the ongoing uncertainties connected with the global economy, the company will be able to generate sufficient funds to meet its liabilities as they fall due.true

 

Although the amount due to the parent company remains repayable on demand, the directors of the parent company have confirmed that they will not withdraw their funding to the detriment of other unsecured creditors of this company and will provide additional funding to enable the company to deliver its current business plan. As a result, the directors consider it appropriate to prepare these financial statements on the basis that the company is a going concern.

1.3
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 is recognised for the period to which the work relates.

1.4
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:

Plant and equipment
33% on cost
Motor vehicles
33% on cost

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.

1.5
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.

CAWDOR ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.7
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

Current tax liabilities are recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

 

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

1.8
Employee benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2
Employees

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

2024
2023
Number
Number
Total
3
2
CAWDOR ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023
77,450
74,371
151,821
Additions
-
0
32,000
32,000
Disposals
-
0
(21,000)
(21,000)
At 30 September 2024
77,450
85,371
162,821
Depreciation and impairment
At 1 October 2023
31,417
37,537
68,954
Depreciation charged in the year
22,083
19,174
41,257
Eliminated in respect of disposals
-
0
(14,000)
(14,000)
At 30 September 2024
53,500
42,711
96,211
Carrying amount
At 30 September 2024
23,950
42,660
66,610
At 30 September 2023
46,033
36,834
82,867
4
Investment property
2024
£
Fair value
At 1 October 2023
10,545,543
Additions
1,177,809
At 30 September 2024
11,723,352

The directors have valued the investment properties to reflect a fair market value that is strongly supported by their extensive knowledge of the commercial property market. The directors have considered the commercial property market for all locations within the property portfolio in arriving at the final valuation.

5
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
-
0
4,087
In two to five years
-
0
12,923
-
0
17,010
6
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
CAWDOR ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
6
Called up share capital
(Continued)
- 6 -
7
Related party transactions

OTH Limited

Immediate parent undertaking

The related party provides working capital funding to the company. At the end of the year the outstanding balance due to OTH Limited was £11,452,777 (2023: £9,266,270). The advance is interest-free, unsecured and repayable on demand.

 

Cawdor Arms Ltd

Fellow subsidiary company

The related party provides working capital funding to the company. It also sells goods and services to, and buys goods and services from, the company on an arms length basis. At the end of the year the outstanding balance due from Cawdor Arms Ltd was £2,555 (2023 due to related party: £520). The advance is interest-free, unsecured and repayable on demand.

 

Ventura Sol Limited

Fellow subsidiary company

The related party provided working capital funding to the company, which was repaid during the year. At the end of the year the outstanding balance due to the related party was £nil (2023: £379). The advance was interest-free, unsecured and repayable on demand.

 

J M Dawson

Mother of Mrs L C G Morgan

The related party has engaged the company on a property development contract on an arms length basis. Total sales by the company during the year were £818,790 (2023: £943,669). At the end of the year £50,000 had been paid on account by the related party (2023 due to the company: £109,053). The debt is interest-free, unsecured and repayable on demand.

 

Harrington Grounds Ltd

Company under common control

The related party has engaged the company on a property development contract on an arms' length basis. Total sales by the company during the year were £177,453 (2023: £905,622). At the end of the year £100,266 (2023: £22,366) was due to the company. The debt is unsecured, interest-free and repayable on demand.

 

Mrs L C G Morgan

Director of the company

Mrs Morgan lent the company money in a previous period as working capital. This funding was repaid during the year and further sums were advanced to Mrs Morgan. The balance owed by the director at the end of the year was £15,517 (2023 to: £74,806). This amount was repaid in full within nine months after the year end.

2024-09-302023-10-01falsefalsefalse27 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMrs L C G MorganMr C E MorganMrs L C G Morgan100594872023-10-012024-09-30100594872024-09-30100594872023-09-3010059487core:PlantMachinery2024-09-3010059487core:MotorVehicles2024-09-3010059487core:PlantMachinery2023-09-3010059487core:MotorVehicles2023-09-3010059487core:ShareCapital2024-09-3010059487core:ShareCapital2023-09-3010059487core:RetainedEarningsAccumulatedLosses2024-09-3010059487core:RetainedEarningsAccumulatedLosses2023-09-3010059487core:ShareCapitalOrdinaryShareClass12024-09-3010059487core:ShareCapitalOrdinaryShareClass12023-09-3010059487bus:CompanySecretaryDirector12023-10-012024-09-3010059487core:PlantMachinery2023-10-012024-09-3010059487core:MotorVehicles2023-10-012024-09-30100594872022-10-012023-09-3010059487core:PlantMachinery2023-09-3010059487core:MotorVehicles2023-09-30100594872023-09-3010059487core:WithinOneYear2024-09-3010059487core:WithinOneYear2023-09-3010059487core:BetweenTwoFiveYears2024-09-3010059487core:BetweenTwoFiveYears2023-09-3010059487bus:OrdinaryShareClass12023-10-012024-09-3010059487bus:PrivateLimitedCompanyLtd2023-10-012024-09-3010059487bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3010059487bus:FRS1022023-10-012024-09-3010059487bus:AuditExemptWithAccountantsReport2023-10-012024-09-3010059487bus:Director12023-10-012024-09-3010059487bus:Director22023-10-012024-09-3010059487bus:CompanySecretary12023-10-012024-09-3010059487bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP