Company registration number 02692193 (England and Wales)
CAPEVALE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CAPEVALE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CAPEVALE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
272
320
Investment properties
4
625,000
625,000
Investments
5
149
149
625,421
625,469
Current assets
Debtors
6
651,955
630,455
Cash at bank and in hand
9,472
10,048
661,427
640,503
Creditors: amounts falling due within one year
7
(1,452)
(545)
Net current assets
659,975
639,958
Total assets less current liabilities
1,285,396
1,265,427
Provisions for liabilities
(68,850)
(52,326)
Net assets
1,216,546
1,213,101
Capital and reserves
Called up share capital
8
100
100
Non-distributable profits reserve
9
456,541
473,065
Distributable profit and loss reserves
759,905
739,936
Total equity
1,216,546
1,213,101
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CAPEVALE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 4 September 2024
T A Andrew
Director
Company Registration No. 02692193
CAPEVALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Capevale Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Greenfield Avenue, Stourbridge, West Midlands, DY8 1SX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
CAPEVALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.
1.9
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
CAPEVALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
19,832
Depreciation and impairment
At 1 April 2023
19,512
Depreciation charged in the year
48
At 31 March 2024
19,560
Carrying amount
At 31 March 2024
272
At 31 March 2023
320
4
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
625,000
The fair value of the investment property is the directors considered open market valuation.
5
Fixed asset investments
2024
2023
£
£
Investments
149
149
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2023 & 31 March 2024
149
Carrying amount
At 31 March 2024
149
At 31 March 2023
149
CAPEVALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
651,955
630,455
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
892
Other creditors
560
545
1,452
545
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
ordinary shares of £1 each
100
100
100
100
9
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
473,065
473,065
Non distributable profits in the year
(16,524)
-
At the end of the year
456,541
473,065
10
Related party transactions
Transactions with related parties
At 31 March 2024 there was a balance due to the company from Blue Water Fishing Limited, a subsidiary company, of £421,863 (2023 - £421,863).
Transactions with affiliated companies
During the year there were transactions with Medi-Services Limited which is under the common control of the Director. At 31 March 2024 amounts owed by Medi-Services Limited were £123,555 (2023 - £101,510).
During the year, there were no transactions with Sarah Jane Fishing Limited and Daleswood Limited which are under the common control of the Director. At 31 March 2024 amounts owed by Sarah Jane Fishing Limited were £103,000 (2023 - £103,000), and amounts owed by Daleswood Limited were £3,537 (2023 - £4,081).