Registered number
04346756
Capital H Catering & Leisure Equipment Limited
Filleted Accounts
31 March 2023
Capital H Catering & Leisure Equipment Limited
Registered number: 04346756
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 15,000 15,000
Tangible assets 4 1,605,321 2,518,345
Investment properties 5 1,200,000 -
2,820,321 2,533,345
Current assets
Stocks 6,301 7,322
Debtors 6 37,674 1,440
Cash at bank and in hand 245,166 429,569
289,141 438,331
Creditors: amounts falling due within one year 7 (1,634,063) (1,510,789)
Net current liabilities (1,344,922) (1,072,458)
Total assets less current liabilities 1,475,399 1,460,887
Creditors: amounts falling due after more than one year 8 - (669,799)
Net assets 1,475,399 791,088
Capital and reserves
Called up share capital 100 100
Revaluation reserve 9 278,569 -
Depn - Tfr to investment property - 29,015 -
Profit and loss account 1,167,715 790,988
Shareholders' funds 1,475,399 791,088
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ajit Singh Nagra
Director
Approved by the board on 9 October 2023
Capital H Catering & Leisure Equipment Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% straight line
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment 20% reducing balance
Investment properties
Investment properties, which are properties held to earn rentals and/or for capital appreciation, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 15,000
At 31 March 2023 15,000
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 15,000
At 31 March 2022 15,000
Goodwill is not being written off as yet.
4 Tangible fixed assets
Land and buildings Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 2,540,590 196,305 89,905 2,826,800
Cost - Tfr to investment property (921,431) - (921,431)
Additions - 1,424 - 1,424
At 31 March 2023 1,619,159 197,729 89,905 1,906,793
Depreciation
At 1 April 2022 80,000 157,591 70,864 308,455
Charge for the year 10,196 8,028 3,808 22,032
Depn - Tfr to investment property (29,015) - (29,015)
At 31 March 2023 61,181 165,619 74,672 301,472
Net book value
At 31 March 2023 1,557,978 32,110 15,233 1,605,321
At 31 March 2022 2,460,590 38,714 19,041 2,518,345
The building portion of the property is estimated at £800,000 and depreciated at 2% straight line basis.
Tha company investment property was valued by the director, based on his understanding of property market conditions and derived from current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific assets.
5 Investment properties
Cost
At 1 April 2022 -
Transfer from land and buildings 921,431
Additions -
Revaluation 278,569
Disposals -
At 31 March 2023 1,200,000
The group's investment properties were valued by the director based on his understanding of property market conditions and derived from current market rents and investment property yields for comparable real estate, adjusted if necessary for any differences in the nature, location or condition of the specific assets.
6 Debtors 2023 2022
£ £
Trade debtors 37,674 -
Other debtors - 1,440
37,674 1,440
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 89,898 163,805
Corporation tax 115,420 58,457
Other taxes and social security costs 7,069 15,145
Other creditors 1,421,676 1,273,382
1,634,063 1,510,789
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 669,799
9 Revaluation reserve 2023 2022
£ £
Gain on revaluation of land and buildings 278,569 -
At 31 March 2023 278,569 -
10 Related party transactions
Included within other creditors is director's loan of £1,314,785 (2022 - £1,161,201).
11 Controlling party
The directors do not consider there to be an ultimate controlling party.
12 Other information
Capital H Catering & Leisure Equipment Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3 Marlin Park
Central Way
Feltham
TW14 0AN
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