Cala Casa Property Limited 13908052 false 2022-02-10 2023-02-28 2023-02-28 The principal activity of the company is property investment. The company acquired the entire business of Calacasa Partnership in consideration for the issue of new shares in Cala Casa Property Ltd in pursuance of a resolution dated 4th May 2022. The company started trading from the 4th May 2022. Digita Accounts Production Advanced 6.30.9574.0 true true 13908052 2022-02-10 2023-02-28 13908052 2023-02-28 13908052 bus:OrdinaryShareClass1 2023-02-28 13908052 core:CurrentFinancialInstruments 2023-02-28 13908052 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13908052 core:Non-currentFinancialInstruments 2023-02-28 13908052 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 13908052 core:FurnitureFittingsToolsEquipment 2023-02-28 13908052 bus:SmallEntities 2022-02-10 2023-02-28 13908052 bus:AuditExemptWithAccountantsReport 2022-02-10 2023-02-28 13908052 bus:FullAccounts 2022-02-10 2023-02-28 13908052 bus:SmallCompaniesRegimeForAccounts 2022-02-10 2023-02-28 13908052 bus:RegisteredOffice 2022-02-10 2023-02-28 13908052 bus:Director1 2022-02-10 2023-02-28 13908052 bus:Director2 2022-02-10 2023-02-28 13908052 bus:Director3 2022-02-10 2023-02-28 13908052 bus:Director4 2022-02-10 2023-02-28 13908052 bus:OrdinaryShareClass1 2022-02-10 2023-02-28 13908052 bus:PrivateLimitedCompanyLtd 2022-02-10 2023-02-28 13908052 core:FurnitureFittingsToolsEquipment 2022-02-10 2023-02-28 13908052 countries:AllCountries 2022-02-10 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13908052

Cala Casa Property Limited

Unaudited Filleted Financial Statements

for the Period from 10 February 2022 to 28 February 2023

 

Cala Casa Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Cala Casa Property Limited

Company Information

Directors

Miss Androulla Ioannou

Ms Alexia Savva

Mr Luke Savva

Mrs Cristina Savva

Registered office

73 Monks Avenue
Barnet
EN5 1DA

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

Cala Casa Property Limited

(Registration number: 13908052)
Balance Sheet as at 28 February 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

1,216

Investment property

5

8,110,000

 

8,111,216

Creditors: Amounts falling due within one year

6

(62,716)

Total assets less current liabilities

 

8,048,500

Creditors: Amounts falling due after more than one year

6

(3,593,176)

Net assets

 

4,455,324

Capital and reserves

 

Called up share capital

7

1,000

Share premium reserve

4,444,030

Retained earnings

10,294

Shareholders' funds

 

4,455,324

For the financial period 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 November 2023 and signed on its behalf by:
 

.........................................
Miss Androulla Ioannou
Director

 

Cala Casa Property Limited

Notes to the Unaudited Financial Statements for the Period from 10 February 2022 to 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
73 Monks Avenue
Barnet
EN5 1DA

These financial statements were authorised for issue by the Board on 3 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Cala Casa Property Limited

Notes to the Unaudited Financial Statements for the Period from 10 February 2022 to 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

 

Cala Casa Property Limited

Notes to the Unaudited Financial Statements for the Period from 10 February 2022 to 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,824

1,824

At 28 February 2023

1,824

1,824

Depreciation

Charge for the period

608

608

At 28 February 2023

608

608

Carrying amount

At 28 February 2023

1,216

1,216

5

Investment properties

2023
£

Additions

8,110,000

At 28 February

8,110,000

There has been no valuation of investment property by an independent valuer.

The directors are of the opinion that the current market value of the properties is the same as the cost, therefore no revaluation is considered necessary.

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Taxation and social security

18,421

Directors loan accounts

44,295

62,716

 

Cala Casa Property Limited

Notes to the Unaudited Financial Statements for the Period from 10 February 2022 to 28 February 2023

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

3,593,176

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Share Capital of £1 each

1,000

1,000

     

8

Loans and borrowings

2023
£

Non-current loans and borrowings

Bank borrowings

3,593,176

2023
£

Current loans and borrowings

Other borrowings

44,295

9

Dividends

   

2023

   

£

Interim dividend of £70.00 per ordinary share

 

70,000

     

10

Related party transactions

Directors' remuneration

The directors' remuneration for the period was as follows:

2023
£

Remuneration

36,384