REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
Cappa Estates Limited |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Accountants: |
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 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | 9 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Revaluation reserve | 11 |
Retained earnings |
Shareholders' funds |
Cappa Estates Limited (Registered number: 10336372) |
BALANCE SHEET - continued |
31 March 2024 |
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. |
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 |
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 |
Office equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Office |
equipment |
£ |
Cost |
At 1 April 2023 |
and 31 March 2024 |
Depreciation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 April 2023 |
Revaluations | 47,000 |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
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 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
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 |
Provided during year |
Balance at 31 March 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £0.01 | 100 | 100 |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2023 |
Tfr to revaluation reserve | 19,030 |
At 31 March 2024 |
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. |