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COMPANY REGISTRATION NUMBER: 13175097
Casa Property Holdings Limited
Filleted Unaudited Abridged Financial Statements
28 February 2023
Casa Property Holdings Limited
Abridged Financial Statements
Year Ended 28 February 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Casa Property Holdings Limited
Abridged Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
5
4,897
5,690
Investment property
6
421,042
304,600
---------
---------
425,939
310,290
Current Assets
Cash at bank and in hand
102,584
30,153
Creditors: amounts falling due within one year
141,888
1,440
---------
--------
Net Current (Liabilities)/Assets
( 39,304)
28,713
---------
---------
Total Assets Less Current Liabilities
386,635
339,003
Creditors: amounts falling due after more than one year
7
405,150
358,749
---------
---------
Net Liabilities
( 18,515)
( 19,746)
---------
---------
Capital and Reserves
Called up share capital
9
2
2
Profit and loss account
( 18,517)
( 19,748)
--------
--------
Shareholders Deficit
( 18,515)
( 19,746)
--------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Casa Property Holdings Limited
Abridged Statement of Financial Position (continued)
28 February 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 1 November 2023 , and are signed on behalf of the board by:
Ms N Mullen
Director
Company registration number: 13175097
Casa Property Holdings Limited
Notes to the Abridged Financial Statements
Year Ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, S40 1LA.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss. The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have concluded that the company will continue to have sufficient working capital to settle its liabilities as the fall due for a period of twelve months from the date of approval of these financial statements and on this basis it is therefore appropriate that they are prepared on a going concern basis.
Revenue recognition
Turnover represents rental income due for the period under operating leases all of which relate to properties in the United Kingdom.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
5 years straight line
Equipment
-
3 years straight line
Investments
Investment property is carried at fair value determined annually. No depreciation is provided. Changes in fair value are recognised in the profit and loss for the period.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
£
Cost
At 1 March 2022
6,410
Additions
659
-------
At 28 February 2023
7,069
-------
Depreciation
At 1 March 2022
720
Charge for the year
1,452
-------
At 28 February 2023
2,172
-------
Carrying amount
At 28 February 2023
4,897
-------
At 28 February 2022
5,690
-------
6. Investment property
Investment property
£
Cost
At 1 March 2022
304,600
Additions
116,442
---------
At 28 February 2023
421,042
---------
Impairment
At 1 March 2022 and 28 February 2023
---------
Carrying amount
At 28 February 2023
421,042
---------
At 28 February 2022
304,600
---------
The fair value of the properties were made in the year by the directors, who have experience in the location and class of properties, on an open market value for existing basis. No further input from an independent valuer was deemed to be required.
7. Creditors: amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £405,150 (2022: £206,550) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8. Securities
There is a legal charge, incorporating a fixed and floating charge, over the properties and assets owned by the company.
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----