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REGISTERED NUMBER: 10249603 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

CASPIAN PROPERTIES (U.K) LIMITED

CASPIAN PROPERTIES (U.K) LIMITED (REGISTERED NUMBER: 10249603)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Balance sheet 1

Notes to the financial statements 2


CASPIAN PROPERTIES (U.K) LIMITED (REGISTERED NUMBER: 10249603)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Investment property 4 1,195,000 1,890,825

Current assets
Debtors 5 20,799 38,377
Cash at bank 690,314 109,722
711,113 148,099
Creditors
Amounts falling due within one year 6 856,654 934,359
Net current liabilities (145,541 ) (786,260 )
Total assets less current liabilities 1,049,459 1,104,565

Creditors
Amounts falling due after more than one year 7 (385,010 ) (406,818 )

Provisions for liabilities 9 (95,000 ) (75,067 )
Net assets 569,449 622,680

Capital and reserves
Called up share capital 10 2 2
Revaluation reserve 11 285,000 320,022
Retained earnings 284,447 302,656
Shareholders' funds 569,449 622,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 19 August 2022 and were signed by:




Mr S Seyed-Rezai - Director


CASPIAN PROPERTIES (U.K) LIMITED (REGISTERED NUMBER: 10249603)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. Statutory information

Caspian Properties (UK) Limited is a private company, limited by shares, incorporated in England within the United Kingdom registration number 10249603. The address of the registered office is 7& 8 Church Street, Wimborne, Dorset, BH21 1JH and place of business is Campden House, Ringwood Road, Burley, Hampshire, BH24 4BU.

2. Accounting policies

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

Preparation of consolidated financial statements
The financial statements present information about Caspian Properties (U.K) Limited as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Turnover
Turnover from land and property in respect of the total proceeds of building and development is recognised at legal completion and represents the amounts receivable for the property, net of discounts and VAT.

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 that have been enacted or substantively enacted by the balance sheet date.

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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2021 - 1 ) .

CASPIAN PROPERTIES (U.K) LIMITED (REGISTERED NUMBER: 10249603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


4. Investment property
Total
£   
Fair value
At 1 April 2021 1,890,825
Disposals (680,737 )
Revaluations (15,088 )
At 31 March 2022 1,195,000
Net book value
At 31 March 2022 1,195,000
At 31 March 2021 1,890,825

Fair value at 31 March 2022 is represented by:
£   
Valuation in 2017 503,017
Valuation in 2018 160,000
Valuation in 2021 (267,929 )
Valuation in 2022 (15,088 )
Cost 815,000
1,195,000

If investment properties had not been revalued they would have been included at the following historical cost:

2022 2021
£    £   
Cost 815,000 1,495,736

Investment properties were valued on an open market basis on 31 March 2022 by the director .

5. Debtors: amounts falling due within one year
2022 2021
£    £   
Trade debtors 5,929 11,026
Amounts owed by group undertakings 1,001 1,001
Other debtors 12,033 3,144
Prepayments 1,836 23,206
20,799 38,377

CASPIAN PROPERTIES (U.K) LIMITED (REGISTERED NUMBER: 10249603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. Creditors: amounts falling due within one year
2022 2021
£    £   
Bank loans and overdrafts 18,834 17,849
Trade creditors 114 20,936
Amounts owed to group undertakings 474,287 474,287
Tax 593 2,461
VAT 1,711 2,907
Other creditors 10,936 3,144
Directors' current accounts 344,999 404,999
Accruals and deferred income 5,180 7,776
856,654 934,359

7. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Bank loans 385,010 406,818

8. Secured debts

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 403,844 424,667

The Lloyds Bank loan is secured by way of a fixed and floating charge over the company assets dated 25 November 2016 and legal charges over the freehold of 111 Old Christchurch Road, Bournemouth and Restynge House, 11-15 Ringwood Road, Verwood dated 3 February 2017.

In addition, the Aldermore Bank loans are secured by legal charge over the freehold of 14&16 Castle Street, Christchurch, Dorset dated 31 October 2017 and 6 Elm Gardens, Wimborne, Dorset dated 11 September 2018.

9. Provisions for liabilities
2022 2021
£    £   
Deferred tax 95,000 75,067

Deferred
tax
£   
Balance at 1 April 2021 75,067
Investment property revaluat'n 19,933
Balance at 31 March 2022 95,000

10. Called up share capital


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary A £1 2 2

CASPIAN PROPERTIES (U.K) LIMITED (REGISTERED NUMBER: 10249603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


11. Reserves
Revaluation
reserve
£   
At 1 April 2021 320,022
Investment property revaluation (35,022 )

At 31 March 2022 285,000

12. Ultimate controlling party

The company is controlled by the director, Mr S Seyed-Rezai, by virtue of his 100% holding in the voting share capital of the ultimate parent company, Caspian Holdings (UK) Limited.