Capstan Canal Estates Limited
Filleted Abridged Accounts
31 March 2024
Registered number
06744525
Capstan Canal Estates Limited
Registered number: 11761985
Abridged Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,304,000 3,584,000
Current assets
Debtors 4 44,143 93,568
Cash at bank and in hand 27,101 100,558
71,244 194,126
Creditors: amounts falling due within one year (12,363) (11,733)
Net current assets 58,881 182,393
Total assets less current liabilities 3,362,881 3,766,393
Creditors: amounts falling due after more than one year (3,131,657) (3,342,359)
Provisions for liabilities - (10,450)
Net assets 231,224 413,584
Capital and reserves
Called up share capital 100 100
Share premium 277,110 277,110
Profit and loss account (45,986) 136,374
Shareholders' funds 231,224 413,584
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
A Vickers
Director
Approved by the board on 14 October 2024
Capstan Canal Estates Limited
Notes to the Abridged Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rent receivable in the year.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & fittings 25% straight line
Investments
Investment property is initially recognised at cost and then subsequently measured at fair value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets Total
£
Cost
At 1 April 2023 3,584,000
Disposals (280,000)
At 31 March 2024 3,304,000
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 3,304,000
At 31 March 2023 3,584,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 3,304,000 3,529,000
Cumulative depreciation based on historical cost - -
3,304,000 3,529,000
4 Debtors 2024 2023
£ £
Amounts due after more than one year included in debtors 30,000 30,000
5 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 1,005,620 1,003,255
Secured bank loans 3,092,509 3,299,966
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A Vickers
Directors Loan 25,760 6,962 (25,760) 6,962
P Chandler
Directors Loan 37,805 6,962 (37,805) 6,962
63,565 13,924 (63,565) 13,924
7 Other information
Capstan Canal Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Capstan Way
Thorne
Doncaster
DN8 5UN
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