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REGISTERED NUMBER: 04623589 (England and Wales)

















Caringa Properties Limited

Financial Statements

for the Year Ended 31 January 2023






Caringa Properties Limited (Registered number: 04623589)

Contents of the Financial Statements
for the year ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Caringa Properties Limited

Company Information
for the year ended 31 January 2023







DIRECTORS: I L Cope
Mrs S E Cope





SECRETARY: I L Cope





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 04623589 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Caringa Properties Limited (Registered number: 04623589)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17 23
Investment property 5 265,000 257,500
265,017 257,523

CURRENT ASSETS
Debtors 6 305 294
Cash at bank 1,177 1,177
1,482 1,471
CREDITORS
Amounts falling due within one year 7 60,819 63,889
NET CURRENT LIABILITIES (59,337 ) (62,418 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,680

195,105

CREDITORS
Amounts falling due after more than one
year

8

(171,495

)

(171,495

)

PROVISIONS FOR LIABILITIES 10 (2,925 ) (915 )
NET ASSETS 31,260 22,695

CAPITAL AND RESERVES
Called up share capital 2 2
Undistributable reserves 11 26,399 20,324
Retained earnings 11 4,859 2,369
SHAREHOLDERS' FUNDS 31,260 22,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Caringa Properties Limited (Registered number: 04623589)

Balance Sheet - continued
31 January 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:




I L Cope - Director



Mrs S E Cope - Director


Caringa Properties Limited (Registered number: 04623589)

Notes to the Financial Statements
for the year ended 31 January 2023


1. STATUTORY INFORMATION

Caringa Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on reducing balance

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

Deferred tax
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.

Undistributable reserves
Whilst fair value gains on investment property are taken to the profit and loss account, they are not distributable as dividend to shareholders because the gain is unrealised. The company therefore adopts the policy of transferring the fair value adjustment net/inclusive of the deferred tax charge/credit to a separate account, 'undistributable reserves'.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

Caringa Properties Limited (Registered number: 04623589)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 February 2022
and 31 January 2023 1,635
DEPRECIATION
At 1 February 2022 1,612
Charge for year 6
At 31 January 2023 1,618
NET BOOK VALUE
At 31 January 2023 17
At 31 January 2022 23

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 257,500
Revaluations 7,500
At 31 January 2023 265,000
NET BOOK VALUE
At 31 January 2023 265,000
At 31 January 2022 257,500

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2022 22,500
Valuation in 2023 7,500
Cost 235,000
265,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 235,000 235,000

Investment property was valued on fair value basis on 31 January 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 305 294

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax and social security costs 21 16
Directors' current accounts 59,238 62,433
Accruals and deferred income 1,560 1,440
60,819 63,889

Caringa Properties Limited (Registered number: 04623589)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 171,495 171,495

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 171,495 171,495

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 171,495 171,495

Bank loans are secured by a legal mortgage over investment property.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 3 4
Tax losses carried forward (679 ) (1,265 )
Capital gains on investment properties 3,601 2,176
2,925 915

Deferred
tax
£   
Balance at 1 February 2022 915
Charge to Income Statement during year 2,010
Balance at 31 January 2023 2,925

11. RESERVES
Retained Undistributable
earnings reserves Totals
£    £    £   

At 1 February 2022 2,369 20,324 22,693
Profit for the year 8,565 8,565
Transfer unrealised gain/loss on
investment properties to
undistributable reserves


(6,075


)


6,075


-


At 31 January 2023 4,859 26,399 31,258

Undistributable reserves represent the unrealised gains on carrying investment property at fair value less the deferred tax provision thereon; being unrealised, such amounts are not available to be distributed as dividend to shareholders.