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REGISTERED NUMBER: 06806338 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

CASPIAN DEVELOPMENTS LTD

CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance sheet 1

Notes to the financial statements 2


CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 15,956 21,273

Current assets
Stocks 2,281,628 2,538,970
Debtors 5 483,785 485,193
Cash at bank 634,868 356,194
3,400,281 3,380,357
Creditors
Amounts falling due within one year 6 1,412,703 1,249,443
Net current assets 1,987,578 2,130,914
Total assets less current liabilities 2,003,534 2,152,187

Provisions for liabilities 7 3,989 5,318
Net assets 1,999,545 2,146,869

Capital and reserves
Called up share capital 8 125 125
Retained earnings 1,999,420 2,146,744
Shareholders' funds 1,999,545 2,146,869

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2024 and were signed on its behalf by:





Mr S Seyed-Rezai - Director


CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. Statutory information

Caspian Developments Limited is a private company, limited by shares, incorporated in England within the United Kingdom registration number 06806338. The address of the registered office is 7& 8 Church Street, Wimborne, Dorset, BH21 1JH and place of business is Campden House, Ringwood Road, Burley, Hampshire, BH24 4BU.

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.

Preparation of consolidated financial statements
The financial statements present information about Caspian Developments Limited as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Turnover
Turnover from land and property in respect of the total proceeds of building and development is recognised at legal completion and represents the amounts receivable for the property, net of discounts and VAT.

Turnover from services and general maintenance work is recognised when the service has been performed and represents amounts receivable net of discounts and VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work In Progress is valued at the lower of cost and net realisable value and represents land held for development including land in the course of development which until legal completion for the sale of the asset is recorded at cost. Cost comprises direct costs including, where applicable, direct labour costs and overheads, not including any general administrative overheads, that have been incurred in bringing the asset to the condition and location as recorded at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 that have been enacted or substantively enacted by the balance sheet date.

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.

CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 5 (2023 - 4 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 April 2023
and 31 March 2024 76,056 4,239 37,895 118,190
Depreciation
At 1 April 2023 60,450 3,550 32,917 96,917
Charge for year 3,901 172 1,244 5,317
At 31 March 2024 64,351 3,722 34,161 102,234
Net book value
At 31 March 2024 11,705 517 3,734 15,956
At 31 March 2023 15,606 689 4,978 21,273

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 9 1,094
Amounts owed by group undertakings 474,287 474,287
Other debtors 1,526 26
Tax - 1,478
VAT 1,981 7,030
Prepayments and accrued income 5,982 1,278
483,785 485,193

CASPIAN DEVELOPMENTS LTD (REGISTERED NUMBER: 06806338)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 8,572 26,110
Amounts owed to group undertakings 1,384,605 1,205,605
Tax 11,519 -
Social security and other taxes 372 664
Other creditors 1,693 1,134
Directors' current accounts 2,492 12,280
Accruals and deferred income 3,450 3,650
1,412,703 1,249,443

7. Provisions for liabilities
2024 2023
£    £   
Deferred tax 3,989 5,318

Deferred
tax
£   
Balance at 1 April 2023 5,318
Credit to Statement of comprehensive income during year (1,329 )
Property revaluation
Balance at 31 March 2024 3,989

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
99 Ordinary A £1 99 99
26 Ordinary B £1 26 26
125 125

9. Ultimate controlling party

The company is controlled by the director, Mr S Seyed-Rezai, by virtue of his 100% ownership of the voting share capital of the parent company, Caspian Holdings (UK) Limited.