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REGISTERED NUMBER: 06806338 (England and Wales)











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 28,366 37,819

Current assets
Stocks 2,129,374 1,336,953
Debtors 5 489,137 512,274
Cash at bank 1,007,440 1,242,287
3,625,951 3,091,514
Creditors
Amounts falling due within one year 6 1,447,100 1,023,998
Net current assets 2,178,851 2,067,516
Total assets less current liabilities 2,207,217 2,105,335

Creditors
Amounts falling due after more than one year 7 - (1,442 )

Provisions for liabilities 9 (7,092 ) (7,186 )
Net assets 2,200,125 2,096,707

Capital and reserves
Called up share capital 10 125 125
Retained earnings 2,200,000 2,096,582
Shareholders' funds 2,200,125 2,096,707

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 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.

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 Board of Directors and authorised for issue on 19 August 2022 and were signed on its behalf by:



Mr S Seyed-Rezai - Director


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
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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 (2021 - 4 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 April 2021
and 31 March 2022 76,056 4,239 37,895 118,190
Depreciation
At 1 April 2021 48,312 3,014 29,045 80,371
Charge for year 6,935 306 2,212 9,453
At 31 March 2022 55,247 3,320 31,257 89,824
Net book value
At 31 March 2022 20,809 919 6,638 28,366
At 31 March 2021 27,744 1,225 8,850 37,819

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 41,000 20,730 61,730
Transfer to ownership - (20,730 ) (20,730 )
At 31 March 2022 41,000 - 41,000
Depreciation
At 1 April 2021 17,938 14,171 32,109
Charge for year 5,765 - 5,765
Transfer to ownership - (14,171 ) (14,171 )
At 31 March 2022 23,703 - 23,703
Net book value
At 31 March 2022 17,297 - 17,297
At 31 March 2021 23,062 6,559 29,621

5. Debtors: amounts falling due within one year
2022 2021
£    £   
Amounts owed by group undertakings 474,287 474,287
Other debtors 5,026 5,967
VAT 3,945 26,223
Prepayments and accrued income 5,879 5,797
489,137 512,274

6. Creditors: amounts falling due within one year
2022 2021
£    £   
Hire purchase contracts 1,442 10,950
Trade creditors 64,518 184,658
Amounts owed to group undertakings 1,205,605 639,202
Tax 162,803 138,370
Social security and other taxes 619 3,467
Other creditors 2,035 2,215
Directors' current accounts 6,628 41,566
Accruals and deferred income 3,450 3,570
1,447,100 1,023,998

7. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Hire purchase contracts - 1,442

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 7,186
Credit to Statement of comprehensive income during year (94 )
Property revaluation
Balance at 31 March 2022 7,092

10. Called up share capital



Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
99 Ordinary A £1 99 99
26 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.