Company Registration No. SC592809 (Scotland)
CAYENNE TOPCO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
CAYENNE TOPCO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CAYENNE TOPCO LIMITED
BALANCE SHEET
AS AT 31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
3
1,816,939
988,370
Current assets
Debtors
4
4,640,760
1,776,007
Cash at bank and in hand
2,544
5,793
4,643,304
1,781,800
Creditors: amounts falling due within one year
5
(6,685,894)
(2,793,661)
Net current liabilities
(2,042,590)
(1,011,861)
Total assets less current liabilities
(225,651)
(23,491)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(225,751)
(23,591)
Total equity
(225,651)
(23,491)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 March 2021 and are signed on its behalf by:
Mr G D V Le Sueur
Director
Company Registration No. SC592809
CAYENNE TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
Company information
Cayenne Topco Limited is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
10C Wester Coates Gardens, Edinburgh, United Kingdom, EH12 5LT.
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 a
mounts
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.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Going concern
In common with most businesses the company is facing potential issues in respect of the Covid-19 pandemic. This is an ongoing situation and the company is adopting a strategy to manage the ever changing situation as effectively as possible.
true
The directors are satisfied that these events do not effect the company's ability to continue as a going concern and this basis is appropriate for the preparation of the accounts.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
CAYENNE TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
2
2
3
Fixed asset investments
2020
2019
£
£
Other investments other than loans
1,816,939
988,370
Investments include a £100 investment in the share capital of Cayenne Properties Limited, a wholly owned subsidiary of Cayenne Topco Limited.
CAYENNE TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2019
988,370
Additions
1,019,986
Market value revaluation
(191,417)
At 31 March 2020
1,816,939
Carrying amount
At 31 March 2020
1,816,939
At 31 March 2019
988,370
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,620,740
1,775,987
Other debtors
20,020
20
4,640,760
1,776,007
5
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans
1,806,441
992,441
Other creditors
4,879,453
1,801,220
6,685,894
2,793,661
UBS hold a fixed charge over all monies, investments and securities held with them, against the bank loan provided by them.
CAYENNE TOPCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 5 -
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and not fully paid
40 Ordinary A shares of £1 each
40
40
40 Ordinary B shares of £1 each
40
40
10 Ordinary C shares of £1 each
10
10
10 Ordinary D shares of £1 each
10
10
100
100