Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-311false2023-04-01Property Investment1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07583234 2023-04-01 2024-03-31 07583234 2022-04-01 2023-03-31 07583234 2024-03-31 07583234 2023-03-31 07583234 c:Director1 2023-04-01 2024-03-31 07583234 d:FreeholdInvestmentProperty 2024-03-31 07583234 d:FreeholdInvestmentProperty 2023-03-31 07583234 d:CurrentFinancialInstruments 2024-03-31 07583234 d:CurrentFinancialInstruments 2023-03-31 07583234 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07583234 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07583234 d:ShareCapital 2024-03-31 07583234 d:ShareCapital 2023-03-31 07583234 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 07583234 d:RetainedEarningsAccumulatedLosses 2024-03-31 07583234 d:RetainedEarningsAccumulatedLosses 2023-03-31 07583234 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07583234 c:OrdinaryShareClass1 2024-03-31 07583234 c:FRS102 2023-04-01 2024-03-31 07583234 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07583234 c:FullAccounts 2023-04-01 2024-03-31 07583234 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07583234 2 2023-04-01 2024-03-31 07583234 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07583234 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07583234














TSUGARU CAPITAL LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 MARCH 2024

 
TSUGARU CAPITAL LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
TSUGARU CAPITAL LTD
REGISTERED NUMBER:07583234

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,080,000
1,080,000

Current assets
  

Debtors: amounts falling due within one year
 5 
51,345
51,035

Cash at bank and in hand
  
149,898
123,347

  
201,243
174,382

  

Creditors: amounts falling due within one year
 6 
(851,120)
(855,897)

Net current liabilities
  
 
 
(649,877)
 
 
(681,515)

Total assets less current liabilities
  
430,123
398,485

Provisions for liabilities
  

Deferred tax
 7 
(19,568)
(19,568)

Net assets
  
410,555
378,917


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
 9 
410,554
378,916

  
410,555
378,917


Page 1

 
TSUGARU CAPITAL LTD
REGISTERED NUMBER:07583234
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 statement of comprehensive income 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: 




N M Cederwell
Director

Date: 27 July 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
TSUGARU CAPITAL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Tsugaru Capital Limited is a limited liability company incorporated in England and Wales with its registered office at 1 Soudan Road, London SW11 4HH.

The principal activity of the company was that of property investment.

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

Turnover

Turnover comprises of revenue recognised by the company in respect of rent receivable for the year, exclusive of Value Added Tax and trade discounts.

 
2.3

Investment property

Investment property is carried at fair value determined annually by the director 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 the Statement of Comprehensive Income.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

 
2.6

Creditors

Short term creditors are measured at the transaction price.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Interest income

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

Page 3

 
TSUGARU CAPITAL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
TSUGARU CAPITAL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,080,000



At 31 March 2024
1,080,000


Comprising


Cost
977,011

Annual revaluation surplus/(deficit):


2016
322,989

2018
(100,000)

2020
(120,000)

At 31 March 2024
1,080,000

The 2024 valuations were made by the director, on an open market value for existing use basis.




5.


Debtors

2024
2023
£
£


Other debtors
50,000
50,000

Prepayments
1,345
1,035

51,345
51,035



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Taxation
7,421
7,367

Other creditors
841,431
846,430

Accruals
2,268
2,100

851,120
855,897


Page 5

 
TSUGARU CAPITAL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Deferred taxation




2024


£






At beginning of year
(19,568)



At end of year
(19,568)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value adjustments
(19,568)
(19,568)


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary share of £1
1
1



9.


Reserves

Profit and loss account

Included in profit and loss reserves are revaluation surpluses amounting to £83,421 (2023 - £83,421) which are not distributable.

 
Page 6