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REGISTERED NUMBER: 02751598 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Castlecove Limited

Castlecove Limited (Registered number: 02751598)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Castlecove Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J P Malovany





SECRETARY: C L Malovany





REGISTERED OFFICE: Grant House
Felday Road
Abinger Hammer
Dorking
Surrey
RH5 6QP





REGISTERED NUMBER: 02751598 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Castlecove Limited (Registered number: 02751598)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 650,000 650,000
650,000 650,000

CURRENT ASSETS
Debtors 6 409,363 381,140
Cash at bank 4,723 8,126
414,086 389,266
CREDITORS
Amounts falling due within one year 7 (69,442 ) (55,616 )
NET CURRENT ASSETS 344,644 333,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

994,644

983,650

PROVISIONS FOR LIABILITIES (80,000 ) (61,000 )
NET ASSETS 914,644 922,650

CAPITAL AND RESERVES
Called up share capital 1,300 1,300
Share premium 128,700 128,700
Non-distributable reserve 402,741 421,741
Retained earnings 381,903 370,909
914,644 922,650

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 director acknowledges his 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.

Castlecove Limited (Registered number: 02751598)

Statement of Financial Position - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 August 2024 and were signed by:





J P Malovany - Director


Castlecove Limited (Registered number: 02751598)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Castlecove Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents rents receivable from third parties. The company is not registered for VAT. Rents received in respect of future periods are deferred within creditors in the Statement of Financial Position.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on cost

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is stated at its fair value at the reporting end date. Fair value movements are recognised in the Income Statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 the 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 1 (2023 - 1 ) .

Castlecove Limited (Registered number: 02751598)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 21,190
DEPRECIATION
At 1 April 2023
and 31 March 2024 21,190
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. INVESTMENT PROPERTY
Total
£   
COST
At 1 April 2023
and 31 March 2024 650,000
NET BOOK VALUE
At 31 March 2024 650,000
At 31 March 2023 650,000

Investment property comprises two flats. The fair value of the investment property has been arrived at on the basis of a valuation by the director, which is carried out annually. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 404,674 376,674
Other debtors 4,549 4,330
Prepayments 140 136
409,363 381,140

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 2,688 1,534
Other creditors 44,195 37,195
Accruals 22,559 16,887
69,442 55,616

Castlecove Limited (Registered number: 02751598)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. RELATED PARTY DISCLOSURES

During the year, management charges of £7,000 (2023: £7,000) were payable to a company under common control. The amount owing at the year end in respect of these items, included in other creditors, total £42,000 (2023: £35,000)

Included in accruals are amounts in relation to a company under common control, relating to service charges, totalling £19,675 (2023: £19,475)

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.