REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
CASPIAN DEVELOPMENTS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
CASPIAN DEVELOPMENTS LTD |
CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 2 |
CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338) |
BALANCE SHEET |
31 MARCH 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 7 | ( |
) |
Provisions for liabilities | 9 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings |
Shareholders' funds |
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. |
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 Board of Directors and authorised for issue on |
CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
1. | Statutory information |
Caspian Developments Limited is a private company, limited by shares, incorporated in England within the United Kingdom registration number 06806338. 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 |
Preparation of consolidated financial statements |
The financial statements present information about Caspian Developments 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. |
Turnover from services and general maintenance work is recognised when the service has been performed and represents amounts receivable net of discounts and VAT. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Work In Progress is valued at the lower of cost and net realisable value and represents land held for development including land in the course of development which until legal completion for the sale of the asset is recorded at cost. Cost comprises direct costs including, where applicable, direct labour costs and overheads, not including any general administrative overheads, that have been incurred in bringing the asset to the condition and location as recorded at the balance sheet date. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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. |
CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
2. | Accounting policies - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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 |
4. | Tangible fixed assets |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 April 2021 |
and 31 March 2022 |
Depreciation |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
Net book value |
At 31 March 2022 |
At 31 March 2021 |
CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
4. | Tangible fixed assets - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 April 2021 |
Transfer to ownership | - | (20,730 | ) | (20,730 | ) |
At 31 March 2022 |
Depreciation |
At 1 April 2021 |
Charge for year |
Transfer to ownership | - | (14,171 | ) | (14,171 | ) |
At 31 March 2022 |
Net book value |
At 31 March 2022 |
At 31 March 2021 |
5. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments and accrued income |
6. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 6,628 | 41,566 |
Accruals and deferred income |
7. | Creditors: amounts falling due after more than one year |
2022 | 2021 |
£ | £ |
Hire purchase contracts |
CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
8. | Secured debts |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Hire purchase contracts | 1,442 | 12,392 |
Amounts owed under hire purchase are secured against the assets to which they relate. |
9. | Provisions for liabilities |
2022 | 2021 |
£ | £ |
Deferred tax | 7,092 | 7,186 |
Deferred |
tax |
£ |
Balance at 1 April 2021 |
Credit to Statement of comprehensive income during year | ( |
) |
Property revaluation |
Balance at 31 March 2022 |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary A | £1 | 99 | 99 |
Ordinary B | £1 | 26 | 26 |
125 | 125 |
11. | Ultimate controlling party |
The company is controlled by the director, Mr S Seyed-Rezai, by virtue of his 100% ownership of the voting share capital of the parent company, Caspian Holdings (UK) Limited. |