IRIS Accounts Production v23.3.1.45 07488376 Board of Directors 1.2.22 31.1.23 31.1.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074883762022-01-31074883762023-01-31074883762022-02-012023-01-31074883762021-01-31074883762021-02-012022-01-31074883762022-01-3107488376ns10:Originalns15:EnglandWales2022-02-012023-01-3107488376ns14:PoundSterlingns10:Original2022-02-012023-01-3107488376ns10:Originalns10:Director12022-02-012023-01-3107488376ns10:Original2022-02-012023-01-3107488376ns10:Original2023-01-3107488376ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-012023-01-3107488376ns10:Originalns10:SmallEntities2022-02-012023-01-3107488376ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-012023-01-3107488376ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3107488376ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-012023-01-3107488376ns10:Originalns10:FullAccounts2022-02-012023-01-3107488376ns10:Original2021-02-012022-01-3107488376ns10:Original2022-01-3107488376ns10:Originalns5:CurrentFinancialInstruments2023-01-3107488376ns10:Originalns5:CurrentFinancialInstruments2022-01-3107488376ns10:Originalns5:Non-currentFinancialInstruments2023-01-3107488376ns10:Originalns5:Non-currentFinancialInstruments2022-01-3107488376ns5:ShareCapitalns10:Original2023-01-3107488376ns5:ShareCapitalns10:Original2022-01-3107488376ns10:Originalns5:RevaluationReserve2023-01-3107488376ns10:Originalns5:RevaluationReserve2022-01-3107488376ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3107488376ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3107488376ns10:Originalns10:RegisteredOffice2022-02-012023-01-3107488376ns10:Original2022-01-3107488376ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3107488376ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3107488376ns5:Securedns10:Original2023-01-3107488376ns5:Securedns10:Original2022-01-3107488376ns10:Originalns5:RevaluationReserve2022-01-31
REGISTERED NUMBER: 07488376 (England and Wales)

















CASA PADRE VICO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 925,000 1,235,000

CURRENT ASSETS
Debtors 5 1,252 246
Cash at bank 20,538 249,462
21,790 249,708
CREDITORS
Amounts falling due within one year 6 33,154 395,184
NET CURRENT LIABILITIES (11,364 ) (145,476 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

913,636

1,089,524

CREDITORS
Amounts falling due after more than one year 7 (15,179 ) (186,274 )

PROVISIONS FOR LIABILITIES (115,653 ) (134,080 )
NET ASSETS 782,804 769,170

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 546,203 629,752
Retained earnings 236,501 139,318
SHAREHOLDERS' FUNDS 782,804 769,170

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





A Martorana - Director


CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Casa Padre Vico Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07488376

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Herts
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the directors' opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover represents rent receivable, excluding value added tax.

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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are 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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 1,235,000
Disposals (310,000 )
At 31 January 2023 925,000
NET BOOK VALUE
At 31 January 2023 925,000
At 31 January 2022 1,235,000

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2013 131,857
Valuation in 2015 130,000
Valuation in 2017 325,000
Valuation in 2018 88,324
Valuation in 2021 175,000
Valuation in 2022 (86,349 )
Valuation in 2023 (101,975 )
Cost 263,143
925,000

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

2023 2022
£    £   
Cost 263,143 471,168

The investment properties were valued on an open market basis on 31 January 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,252 246

CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 369,164
Trade creditors 2,162 718
Taxation and social security 22,923 10,196
Other creditors 8,069 15,106
33,154 395,184

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 21,095
Other creditors 15,179 165,179
15,179 186,274

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 10,429

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 390,259

One of the bank loans are secured by way of a charge due on the investment properties of the company.

9. RESERVES
Revaluation
reserve
£   
At 1 February 2022 629,752
Deferred tax adjustment 18,426
Revaluation surplus/(deficit) (101,975 )

At 31 January 2023 546,203

10. RELATED PARTY DISCLOSURES

At the year end the directors were owed £15,179 (2022 - £165,179).