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REGISTERED NUMBER: 10336372 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

Cappa Estates Limited

Cappa Estates Limited (Registered number: 10336372)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Cappa Estates Limited

COMPANY INFORMATION
for the year ended 31 March 2024







Directors: R McGrane
Mrs C McGrane





Registered office: 16 Millhouse Park
Torpoint
Cornwall
PL11 2JD





Registered number: 10336372 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Cappa Estates Limited (Registered number: 10336372)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 966 2,159
Investment property 5 833,000 786,000
833,966 788,159

Current assets
Debtors 6 1,728 2,520
Cash at bank 29,698 28,271
31,426 30,791
Creditors
Amounts falling due within one year 7 537,482 538,998
Net current liabilities (506,056 ) (508,207 )
Total assets less current liabilities 327,910 279,952

Creditors
Amounts falling due after more than
one year

8

(8,540

)

(14,059

)

Provisions for liabilities 9 (58,000 ) (30,030 )
Net assets 261,370 235,863

Capital and reserves
Called up share capital 10 100 100
Revaluation reserve 11 175,951 156,921
Retained earnings 85,319 78,842
Shareholders' funds 261,370 235,863

Cappa Estates Limited (Registered number: 10336372)

BALANCE SHEET - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:





R McGrane - Director


Cappa Estates Limited (Registered number: 10336372)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Cappa Estates Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address and registered office address can be found on the company information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modfiied by the revaluation of investment properties.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and sales taxes for services provided and also includes rents receivable from investment properties adjusted for amounts paid in advance/in arrears at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 50% on cost

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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.

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.

Cappa Estates Limited (Registered number: 10336372)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
Cost
At 1 April 2023
and 31 March 2024 2,861
Depreciation
At 1 April 2023 702
Charge for year 1,193
At 31 March 2024 1,895
Net book value
At 31 March 2024 966
At 31 March 2023 2,159

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023 786,000
Revaluations 47,000
At 31 March 2024 833,000
Net book value
At 31 March 2024 833,000
At 31 March 2023 786,000

If the investment properties had not been revalued they would have been included at their historical costs of £599,049 (2023: £599,049).

The investment properties were valued by the directors on an open market basis on 31 March 2024.

Cappa Estates Limited (Registered number: 10336372)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2018 20,539
Valuation in 2019 1,238
Valuation in 2020 12,000
Valuation in 2021 82,000
Valuation in 2022 19,174
Valuation in 2023 52,000
Valuation in 2024 47,000
Cost 599,049
833,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 650 1,950
Other debtors 1,078 570
1,728 2,520

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,520 5,380
Taxation and social security 3,800 4,910
Other creditors 528,162 528,708
537,482 538,998

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 8,540 14,059

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 58,000 30,030

Cappa Estates Limited (Registered number: 10336372)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 30,030
Provided during year 27,970
Balance at 31 March 2024 58,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £0.01 100 100

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023 156,921
Tfr to revaluation reserve 19,030

At 31 March 2024 175,951

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the shareholder and director, R McGrane, was owed £523,628.

13. CONTROLLING PARTY

The company is controlled by Mr R McGrane and Mrs C McGrane.