Filleted

Registration number: 03855973

Cardigan Quays Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 11

Cardigan Quays Limited

Company Information

Director

Ms S Tucker

Company secretary

Mr J Lynch

Registered office

Bridge Warehouse Castle Street Cardigan SA43 3AA

Cardigan Quays Limited

(Registration number: 03855973)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	484,334	509,964
Investment property	6	5,623,005	5,422,892
		6,107,339	5,932,856
Current assets
Stocks	7	6,250	5,788
Debtors	8	83,904	54,964
Cash at bank and in hand		57,652	27,458
		147,806	88,210
Creditors: Amounts falling due within one year	9	(3,746,794)	(3,946,752)
Net current liabilities		(3,598,988)	(3,858,542)
Total assets less current liabilities		2,508,351	2,074,314
Creditors: Amounts falling due after more than one year	9	(1,242,644)	(1,353,565)
Net assets		1,265,707	720,749
Capital and reserves
Called up share capital		1	1
Other reserves		539,119	539,119
Profit and loss account		726,587	181,629
Total equity		1,265,707	720,749

Cardigan Quays Limited

(Registration number: 03855973)
Balance Sheet as at 31 October 2025

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 29 July 2026
 

......................................... Ms S Tucker Director

Cardigan Quays Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bridge Warehouse
Castle Street
Cardigan
SA43 3AA

These financial statements were authorised for issue by the director on 29 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cardigan Quays Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cardigan Quays Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% Reducing balance basis
Investment property	No depreciation
Motor vehicles	25% Reducing balance basis
Office equipment	20% Straight line basis
Leashold property	2% Straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Cardigan Quays Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 21 (2024 - 21).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	27,503	31,593

Cardigan Quays Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

5	Tangible assets

	Long leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £
Cost or valuation
At 1 November 2024	489,078	15,618	277,569	12,375
Additions	-	-	1,873	-
Disposals	-	-	(10,100)	-
At 31 October 2025	489,078	15,618	269,342	12,375
Depreciation
At 1 November 2024	67,214	7,227	198,122	12,240
Charge for the year	9,782	1,678	15,944	67
Eliminated on disposal	-	-	(10,100)	-
At 31 October 2025	76,996	8,905	203,966	12,307
Carrying amount
At 31 October 2025	412,082	6,713	65,376	68
At 31 October 2024	421,864	8,391	79,447	135

	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2024	26,715	821,355
Additions	-	1,873
Disposals	-	(10,100)
At 31 October 2025	26,715	813,128
Depreciation
At 1 November 2024	26,588	311,391
Charge for the year	32	27,503
Eliminated on disposal	-	(10,100)
At 31 October 2025	26,620	328,794
Carrying amount
At 31 October 2025	95	484,334
At 31 October 2024	127	509,964

Cardigan Quays Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

Included within the net book value of land and buildings above is £412,083 (2024 - £421,864) in respect of long leasehold land and buildings.
 

6	Investment properties

	2025 £
At 1 November	5,422,892
Additions	200,113
At 31 October	5,623,005

There has been no valuation of investment property by an independent valuer.

7

Stocks

	2025 £	2024 £
Other inventories	6,250	5,788

8

Debtors

	Note	2025 £	2024 £
Trade debtors		56,405	7,275
Amounts owed by group undertakings and undertakings in which the company has a participating interest	12	7,064	27,949
Prepayments		20,435	19,740
		83,904	54,964

Cardigan Quays Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	11	414,525	299,426
Trade creditors		44,528	59,052
Taxation and social security		45,753	24,060
Amounts owed to group undertakings and undertakings in which the company has a participating interest	12	1,216,031	1,329,200
Other related parties	12	29,276	291,353
Directors' loan accounts	12	1,977,516	1,936,858
Outstanding defined contribution pension costs		2,038	602
Other creditors		17,127	6,201
		3,746,794	3,946,752