Company No:
Contents
DIRECTORS | C K Antelme |
The Hon J H M Bruce | |
C V Ellingworth | |
J D Gordon |
SECRETARY | St Andrews Trustees Limited |
REGISTERED OFFICE | 5 Fleet Place |
London | |
EC4M 7RD | |
England | |
United Kingdom |
COMPANY NUMBER | 00823770 (England and Wales) |
AUDITOR | Dixon Wilson Audit Services LLP |
22 Chancery Lane | |
London | |
WC2A 1LS |
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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Investments | 5 |
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9,723,538 | 9,733,835 | |||
Current assets | ||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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1,867,151 | 1,959,577 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (7,411,805) | (7,212,040) | ||
Total assets less current liabilities | 2,311,733 | 2,521,795 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account |
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Total shareholders' funds |
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The financial statements of Cadogan Estates (Agricultural Holdings) Limited (registered number:
J D Gordon
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Cadogan Estates (Agricultural Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Fleet Place, London, EC4M 7RD.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The financial statements have been prepared on a going concern basis as the parent company has agreed to support the company for at least 12 months from the date the financial statements are approved.
Defined contribution schemes
The Company operates a defined contribution scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The company has taken advantage of the exemption from preparing group accounts as it is included in consolidated accounts for a larger group which are filed at Companies House.
Plant and machinery |
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Fixtures and fittings |
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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.
No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting Standard 102. Such properties are held for their investment potential and not for consumption within the business.
Subsidiaries are measured at cost less impairment .
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Fixtures and fittings | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2022 |
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Additions |
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Disposals | (
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At 31 December 2022 |
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Accumulated depreciation | |||||
At 01 January 2022 |
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Charge for the financial year |
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Disposals | (
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At 31 December 2022 |
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Net book value | |||||
At 31 December 2022 |
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At 31 December 2021 |
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Investment property | |
£ | |
Valuation | |
As at 01 January 2022 |
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Additions | 20,282 |
Fair value movement | (20,282) |
As at 31 December 2022 |
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The freehold investment properties class of fixed assets was last revalued on 6 December 2021 by CKD Galbraith LLP with valuations by RICS registered members. It is CKD Galbraith LLP’s opinion that the value has not materially changed since that date. The class of assets has a current value of £9,550,000 (2021 - £9,550,000) and a carrying amount at historic cost of £4,711,484 (2021 - £4,691,201). The basis of this valuation was open market value.
Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 01 January 2022 |
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At 31 December 2022 |
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Carrying value at 31 December 2022 |
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Carrying value at 31 December 2021 |
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The investment in subsidiaries represents a 100% controlling stake in CEAH (Hydro) Limited.
The address of the subsidiary's registered office is:
5 Fleet Place
London
EC4M 7RD
2022 | 2021 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Taxation and social security |
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Other creditors |
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Presented as follows: | |||
Called-up share capital presented as equity | 5,000 | 5,000 |
Profit and loss account
The profit and loss account is made up of accumulated profits and losses including revaluations of investment properties.
Revaluations of investment property above cost and the associated deferred tax balances are not distributable until realised.
At 31 December 2022 there were non-distributable reserves of £6,587,860 (2021 - £6,608,142) from revaluations of investment properties and a deficit on the distributable P&L reserve of (£4,495,705) (2021 - (£4,086,347)).
Transactions with the entity's directors
During the year Cadogan Estates (Agricultural Holdings) Limited paid expenses totalling £45,356 (2021 - £129,379) on behalf of the Rt Hon Earl Cadogan, a director of the company (resigned 12 June 2023). There were no drawings (2021 - £100,000) on behalf of the Rt Hon Earl Cadogan this year. The Earl contributed an amount totalling £19,030 (2021 - £41,062) in the year to the company. At the balance sheet date the amount owed to the company was £32,587 (2021 - £6,261). This loan is interest free and repayable on demand.
Other related party transactions
At the balance sheet date, the amount owed to Cadogan Settled Estates Limited was £9,092,408 (2021 - £8,972,408). This balance is interest free and repayable on demand.
The audit report was signed by Steven Wakefield on behalf of Dixon Wilson Audit Services LLP.
The address of Cadogan Settled Estates Limited is:
5 Fleet Place
London
EC4M 7RD
The ultimate parent is Cadogan Settled Estates Holdings Limited, incorporated in England and Wales.
The parent of the smallest group in which these financial statements are consolidated is Cadogan Settled Estates Holdings Limited. These financial statements are available upon request from Companies House.