Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-287No description of principal activityfalse7false2022-03-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00561028 2022-03-01 2023-02-28 00561028 2021-03-01 2022-02-28 00561028 2023-02-28 00561028 2022-02-28 00561028 c:CompanySecretary1 2022-03-01 2023-02-28 00561028 c:Director1 2022-03-01 2023-02-28 00561028 c:Director2 2022-03-01 2023-02-28 00561028 c:Director3 2022-03-01 2023-02-28 00561028 c:Director4 2022-03-01 2023-02-28 00561028 c:Director5 2022-03-01 2023-02-28 00561028 c:RegisteredOffice 2022-03-01 2023-02-28 00561028 d:MotorVehicles 2022-03-01 2023-02-28 00561028 d:MotorVehicles 2023-02-28 00561028 d:MotorVehicles 2022-02-28 00561028 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00561028 d:FurnitureFittings 2022-03-01 2023-02-28 00561028 d:FurnitureFittings 2023-02-28 00561028 d:FurnitureFittings 2022-02-28 00561028 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00561028 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00561028 d:FreeholdInvestmentProperty 2022-03-01 2023-02-28 00561028 d:FreeholdInvestmentProperty 2023-02-28 00561028 d:FreeholdInvestmentProperty 2022-02-28 00561028 d:CurrentFinancialInstruments 2023-02-28 00561028 d:CurrentFinancialInstruments 2022-02-28 00561028 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00561028 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 00561028 d:ShareCapital 2023-02-28 00561028 d:ShareCapital 2022-02-28 00561028 d:OtherMiscellaneousReserve 2022-03-01 2023-02-28 00561028 d:OtherMiscellaneousReserve 2023-02-28 00561028 d:OtherMiscellaneousReserve 2022-02-28 00561028 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 00561028 d:RetainedEarningsAccumulatedLosses 2023-02-28 00561028 d:RetainedEarningsAccumulatedLosses 2022-02-28 00561028 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 00561028 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 00561028 c:OrdinaryShareClass1 2022-03-01 2023-02-28 00561028 c:OrdinaryShareClass1 2023-02-28 00561028 c:OrdinaryShareClass1 2022-02-28 00561028 c:FRS102 2022-03-01 2023-02-28 00561028 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 00561028 c:FullAccounts 2022-03-01 2023-02-28 00561028 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 00561028 2 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 00561028












CAPITAL ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

 

CAPITAL ESTATES LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 11


 

CAPITAL ESTATES LIMITED
 
COMPANY INFORMATION


Directors
Mr D S Boora 
Mrs B K Boora 
Mrs B Singh 
Mrs A Sekhon 
Mrs B S Boora 




Company secretary
Mrs A Sekhon



Registered number
00561028



Registered office
130 Whitechapel Road

London

E1 1JE




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:00561028
CAPITAL ESTATES LIMITED

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
535,799
59,692

Investment property
 5 
6,896,097
6,872,042

  
7,431,896
6,931,734

Current assets
  

Debtors: amounts falling due within one year
 6 
8,400
14,213

Cash at bank and in hand
  
347,803
942,154

  
356,203
956,367

Creditors: amounts falling due within one year
 7 
(153,878)
(187,077)

Net current assets
  
 
 
202,325
 
 
769,290

Total assets less current liabilities
  
7,634,221
7,701,024

Provisions for liabilities
  

Deferred tax
 8 
(1,273,618)
(1,273,618)

Net assets
  
6,360,603
6,427,406


Capital and reserves
  

Called up share capital 
 9 
10,000
10,000

Other reserves
 10 
4,288,057
4,288,057

Profit and loss account
 10 
2,062,546
2,129,349

Total equity
  
6,360,603
6,427,406


Page 2


 
REGISTERED NUMBER:00561028
CAPITAL ESTATES LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr D S Boora
Director

Date: 20 November 2023

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 

CAPITAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Capital Estates Limited is a private company limited by share capital, registered in England and Wales. The address of its registered office is 130 Whitechapel Road, London, E1 1JE.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 

CAPITAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
15%
Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the 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 asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


2.7

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. 
 
The Company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Page 5

 

CAPITAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)





Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Page 6

 

CAPITAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)





Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
2.8

Share capital

Ordinary shares are classified as equity, incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. 

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 7

 

CAPITAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 8

 

CAPITAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 March 2022
80,690
55,906
136,596


Additions
100,117
444,365
544,482


Disposals
(80,690)
-
(80,690)



At 28 February 2023

100,117
500,271
600,388



Depreciation


At 1 March 2022
34,419
42,485
76,904


Charge for the year on owned assets
15,017
7,087
22,104


Disposals
(34,419)
-
(34,419)



At 28 February 2023

15,017
49,572
64,589



Net book value



At 28 February 2023
85,100
450,699
535,799



At 28 February 2022
46,271
13,421
59,692


5.


Investment property


Freehold investment property

£



Valuation


At 1 March 2022
6,872,042


Additions at cost
24,055



At 28 February 2023
6,896,097

The 2023 valuations were made by the directors, on an open market value for existing use basis.






Page 9

 

CAPITAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
8,400
13,213

Other debtors
-
1,000

8,400
14,213



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
82,126

Other taxation and social security
4,536
3,125

Other creditors
70,859
72,626

Accruals and deferred income
78,483
29,200

153,878
187,077



8.


Deferred taxation




2023


£






At beginning of year
(1,273,618)



At end of year
(1,273,618)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,273,618)
(1,273,618)

Page 10

 

CAPITAL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



10.


Reserves

Other reserves

The other reserves relate to the revaluation of the company's investment property. The reserve is not distributable.

Profit and loss account

The profit and loss account is made up of accumulated historic profits and losses.


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £5,265 (2022 - £5,160). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 11