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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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CAMEO PROPERTIES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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CAMEO PROPERTIES LIMITED |
CAMEO PROPERTIES LIMITED (REGISTERED NUMBER: 04127043) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CAMEO PROPERTIES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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311 Ballards Lane |
London |
N12 8LY |
CAMEO PROPERTIES LIMITED (REGISTERED NUMBER: 04127043) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Fair value reserve | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
CAMEO PROPERTIES LIMITED (REGISTERED NUMBER: 04127043) |
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BALANCE SHEET - continued |
31 DECEMBER 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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CAMEO PROPERTIES LIMITED (REGISTERED NUMBER: 04127043) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Cameo Properties 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. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS |
102") and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention as modified by the revaluation of certain assets. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
Depreciation is provided at 25% on reducing balance in order to write off computer equipment over its estimated |
useful life. |
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Investment property |
Investment properties are accounted for in accordance with the provisions of Section 16 of FRS 102. They are |
valued annually by the director, and from time to time by an independent professional valuer, on a fair value |
basis. The surplus or deficit on revaluation is transferred to the income statement. Deferred tax is provided on |
revaluation gains at the rate expected to apply when the property is sold. |
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Financial instruments |
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and |
amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised |
cost using the effective interest method unless the arrangements constitutes a financing transaction, where the |
transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Financial assets and liabilities classified as receivable or payable within one year are not amortised. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet 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. |
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CAMEO PROPERTIES LIMITED (REGISTERED NUMBER: 04127043) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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3. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
Additions |
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At 31 December 2018 |
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DEPRECIATION |
Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2018 |
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Revaluations | (595,000 | ) |
At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Fair value at 31 December 2018 is represented by: |
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£ |
Valuation in 2014 | 905,000 |
Valuation in 2015 | 475,000 |
Valuation in 2017 | 200,000 |
Valuation in 2018 | (595,000 | ) |
Cost | 2,370,000 |
3,355,000 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Sundry debtors |
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CAMEO PROPERTIES LIMITED (REGISTERED NUMBER: 04127043) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Taxation and social security |
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Sundry creditors |
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7. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2018 |
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Fair value movements | (595,000 | ) |
Deferred tax transfer | 113,050 |
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At 31 December 2018 |
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8. | GOING CONCERN |
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The financial statements have been prepared on a going concern basis, which is dependent on the continued |
support of The Round Table Limited, an unconnected third party to which the company owed £2,721,721 (2017: |
£2,642,447) at the balance sheet date. The directors do not expect this support to be withdrawn in the foreseeable |
future and therefore the going concern basis is reasonable. |
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9. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the director Patrick Johnson owed the company £2,563 (2017: £87). The maximum |
amount owed by Mr Johnson any time during the year was £2,563. No interest is charged on overdrawn directors |
current account balances. |