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REGISTERED NUMBER: 07488376 (England and Wales)



















CASA PADRE VICO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 940,000 925,000

CURRENT ASSETS
Debtors 5 4,119 1,252
Cash at bank 10,707 20,538
14,826 21,790
CREDITORS
Amounts falling due within one year 6 17,657 33,154
NET CURRENT LIABILITIES (2,831 ) (11,364 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

937,169

913,636

CREDITORS
Amounts falling due after more than one
year

7

-

(15,179

)

PROVISIONS FOR LIABILITIES (149,688 ) (115,653 )
NET ASSETS 787,481 782,804

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 527,168 546,203
Retained earnings 260,213 236,501
SHAREHOLDERS' FUNDS 787,481 782,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)

BALANCE SHEET - continued
31 JANUARY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





A Martorana - Director


CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)

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

1. STATUTORY INFORMATION

Casa Padre Vico Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07488376

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Herts
SG4 0TY

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 as modified by the revaluation of certain assets.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the directors' opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover represents rent receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 925,000
Revaluations 15,000
At 31 January 2024 940,000
NET BOOK VALUE
At 31 January 2024 940,000
At 31 January 2023 925,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2013 131,857
Valuation in 2015 130,000
Valuation in 2017 325,000
Valuation in 2018 88,324
Valuation in 2021 175,000
Valuation in 2022 (86,349 )
Valuation in 2023 (101,975 )
Valuation in 2024 15,000
Cost 263,143
940,000

CASA PADRE VICO LIMITED (REGISTERED NUMBER: 07488376)

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

4. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 263,143 263,143

The investment properties were valued on an open market basis on 31 January 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,119 1,252

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 718 2,162
Taxation and social security 7,439 22,923
Other creditors 9,500 8,069
17,657 33,154

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors - 15,179

8. RESERVES
Revaluation
reserve
£   
At 1 February 2023 546,203
Deferred tax adjustment (34,035 )
Revaluation surplus/(deficit) 15,000

At 31 January 2024 527,168

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the directors owed the company £3,223 (2023 - £15,179 owed from the company to
the directors).This balance is included in debtors and it was fully repaid by 30 September 2024.