Cavendish Property Investments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01946389 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

CAVENDISH PROPERTY INVESTMENTS LIMITED

Page

Company Information

1

Report of the Director

2

Statement of Financial Position

3

Notes to the Financial Statements

5

Report of the Accountants

9

DIRECTOR:

W Harrison-Allan

REGISTERED OFFICE:

Suite 4

Chapel Allerton Dist Centre

Town Street, Chapel Allerton

Leeds

West Yorkshire

LS7 4NB

REGISTERED NUMBER:

01946389 (England and Wales)

ACCOUNTANTS:

Ray Bartlett & Co

Certified Public Accountants

52-54 Winchester Street

Salisbury

Wiltshire

SP1 1HG

The director presents his report with the financial statements of the company for the year ended 31 December 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the brokering of Life Time and Reversionary

Mortgages.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2017 will be £ 40,000 .

DIRECTORS

N Simmons has held office during the whole of the period from 1 January 2017 to the date of this report.

Other changes in directors holding office are as follows:

N Simmons ceased to be a director after 31 December 2017 but prior to the date of this report.

COMPANY VOLUNTARY ARRANGEMENT

At a meeting on 29 May 2014 a Company Voluntary Agreement (CVA) was agreed with its creditors.

The agreed CVA proposal provides for the company to make no fewer than 60 monthly voluntary contributions, of not

less than £2125 per month for the currency of the arrangement, 5 years.

The balance outstanding at 31 December 2017 is £38,250 (£63,750- 2016).

The exceptional income in the 2014 accounts, £83,533 represents the difference between the creditors at 29 May 2014

and the payments agreed to be made under the voluntary arrangement after adjustments.

However the company still has a legal obligation for the full amount due to creditors which would become payable if the

CVA terms are not adhered to.

ON BEHALF OF THE BOARD:

W Harrison-Allan - Director

30 April 2018

FIXED ASSETS

Intangible assets

4

18,519

21,128

Tangible assets

5

13,661

12,122

32,180

33,250

CURRENT ASSETS

Work in progress

278,426

146,428

Debtors

6

138,073

99,168

Cash at bank and in hand

4,313

3,502

420,812

249,098

CREDITORS

Amounts falling due within one year

7

(159,774

)

(100,746

)

NET CURRENT ASSETS

261,038

148,352

TOTAL ASSETS LESS CURRENT
LIABILITIES

293,218

181,602

CREDITORS

Amounts falling due after more than one
year

8

(12,750

)

(38,250

)

PROVISIONS FOR LIABILITIES

(208

)

(467

)

NET ASSETS

280,260

142,885

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

280,160

142,785

SHAREHOLDERS' FUNDS

280,260

142,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 April 2018 and were signed by:

W Harrison-Allan - Director

1.	STATUTORY INFORMATION

Cavendish Property Investments Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the the income from fees and commissions including value added tax.

Intangible assets

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Office equipment

-

15% on reducing balance

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2016 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2017

and 31 December 2017

102,862

AMORTISATION

At 1 January 2017

81,734

Amortisation for year

2,609

At 31 December 2017

84,343

NET BOOK VALUE

At 31 December 2017

18,519

At 31 December 2016

21,128

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2017

91,778

41,248

9,250

40,155

182,431

Additions

2,110

918

-

1,278

4,306

At 31 December 2017

93,888

42,166

9,250

41,433

186,737

DEPRECIATION

At 1 January 2017

89,251

31,959

9,250

39,849

170,309

Charge for year

1,094

1,465

-

208

2,767

At 31 December 2017

90,345

33,424

9,250

40,057

173,076

NET BOOK VALUE

At 31 December 2017

3,543

8,742

-

1,376

13,661

At 31 December 2016

2,527

9,289

-

306

12,122

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

Trade debtors

30,896

23,875

Amounts owed by group undertakings

13,911

-

Other debtors

1,535

Directors' current accounts

77,000

60,000

Prepayments and accrued income

14,731

13,758

138,073

99,168

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

Trade creditors

33,732

18,851

Other creditors

15,306

C V Arrangement

25,500

Tax

25,025

-

Social security and other taxes

43,888

19,181

VAT

1,488

1,241

Other creditors

2,007

1,290

Accrued expenses

12,828

19,377

159,774

100,746

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.17

31.12.16

£

C V Arrangement

12,750

38,250

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2017 and

31 December 2016:

31.12.17

31.12.16

£

W Harrison-Allan

Balance outstanding at start of year

60,000

-

Amounts advanced

72,000

60,000

Amounts repaid

(60,000

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

72,000

60,000

N Simmons

Balance outstanding at start of year

-

Amounts advanced

5,000

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

5,000

-

10.	ULTIMATE CONTROLLING PARTY

The controlling party is CGA Group Holdings Ltd.

The ultimate controlling party is W Harrison-Allan.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 December 2017 set out on pages one to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Ray Bartlett & Co

Certified Public Accountants

52-54 Winchester Street

Salisbury

Wiltshire

SP1 1HG

7 May 2018