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REGISTERED NUMBER: 02994042 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 December 2023

for

CAPELAND LIMITED

CAPELAND LIMITED (REGISTERED NUMBER: 02994042)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

CAPELAND LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs W P Williams
C D Lewis





SECRETARY: Mrs W P Williams





REGISTERED OFFICE: Grange Works
Mill Lane
Rugeley
Staffordshire
WS15 2JW





REGISTERED NUMBER: 02994042 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

CAPELAND LIMITED (REGISTERED NUMBER: 02994042)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,565 16,409

CURRENT ASSETS
Stocks 29,800 18,727
Debtors 5 100,808 91,341
Cash in hand 560 340
131,168 110,408
CREDITORS
Amounts falling due within one year 6 210,406 172,056
NET CURRENT LIABILITIES (79,238 ) (61,648 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(64,673

)

(45,239

)

CREDITORS
Amounts falling due after more than one year 7 22,326 20,865
NET LIABILITIES (86,999 ) (66,104 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (87,999 ) (67,104 )
SHAREHOLDERS' FUNDS (86,999 ) (66,104 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





Mrs W P Williams - Director


CAPELAND LIMITED (REGISTERED NUMBER: 02994042)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Capeland 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.

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.

The directors consider the business to be a going concern and have agreed to financially support the Company for the next twelve months.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.


Stock Provision

The directors review stock held at the balance sheet date to ensure that only those goods deemed fit for future sales are included.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

CAPELAND LIMITED (REGISTERED NUMBER: 02994042)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 67,146 11,287 6,995 2,938 88,366
Additions - 232 - 1,219 1,451
Reclassification/transfer - (25 ) - 25 -
At 31 December 2023 67,146 11,494 6,995 4,182 89,817
DEPRECIATION
At 1 January 2023 56,634 11,068 2,099 2,156 71,957
Charge for year 1,936 48 734 577 3,295
At 31 December 2023 58,570 11,116 2,833 2,733 75,252
NET BOOK VALUE
At 31 December 2023 8,576 378 4,162 1,449 14,565
At 31 December 2022 10,512 219 4,896 782 16,409

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 79,824 72,334
Other debtors 20,984 19,007
100,808 91,341

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 6,157 32,482
Trade creditors 89,070 68,278
Taxation and social security 29,459 42,870
Other creditors 85,720 28,426
210,406 172,056

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 22,326 20,865

8. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who each own 50% of the company.

CAPELAND LIMITED (REGISTERED NUMBER: 02994042)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. EMPLOYEE BENEFITS

The company's holiday period is 1 January - 31 December, therefore no accrued holiday pay provision is required in these accounts.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Capeland Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Capeland Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Capeland Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Capeland Limited and state those matters that we have agreed to state to the Board of Directors of Capeland Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Capeland Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Capeland Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Capeland Limited. You consider that Capeland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Capeland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


9 August 2024