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Registered Number: 12394003
England and Wales

 

 

 

CENTRAL SUITES CAPITAL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Directors J Jiggens
R Jiggens
Registered Number 12394003
Registered Office The Old Bakery, 12-14 Hart Street,
Henley-On-Thames, England,
RG9 2AU
Accountants Blue Peak
100 Berkshire Place
GF33
Winnersh
RG41 5RD
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 991,172    866,519 
991,172    866,519 
Current assets      
Debtors 4 840    50 
Cash at bank and in hand 8,224    14,249 
9,064    14,299 
Creditors: amount falling due within one year 5 (205,772)   (225,817)
Net current assets (196,708)   (211,518)
 
Total assets less current liabilities 794,464    655,001 
Creditors: amount falling due after more than one year 6 (591,188)   (591,188)
Provisions for liabilities 7 (32,624)   (8,827)
Net assets 170,652    54,986 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 170,552    54,886 
Shareholders' funds 170,652    54,986 
 



For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.


Directors' responsibilities:
  1. 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.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 October 2024 and were signed on its behalf by:


-------------------------------
J Jiggens
Director
2
General Information
CENTRAL SUITES CAPITAL LTD is a private company, limited by shares, registered in England and Wales, registration number 12394003, registration address The Old Bakery, 12-14 Hart Street,, Henley-On-Thames, England,, RG9 2AU.

The presentation currency is £ sterling.
1.

Accounting policies

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 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.
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.


When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.


Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.


Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.


The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
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. The surplus or deficit on revaluation is recognised in the profit and loss account. Where fair value cannot be achieved without undue cost or effort, investment property will be accounted for as tangible fixed assets.
Borrowing costs related to fixed assets
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 01 February 2023 6,322    863,767    870,089 
Additions   981    981 
Disposals    
Revaluations   125,252    125,252 
At 31 January 2024 6,322    990,000    996,322 
Depreciation
At 01 February 2023 3,570      3,570 
Charge for year 1,580      1,580 
On disposals    
At 31 January 2024 5,150      5,150 
Net book values
Closing balance as at 31 January 2024 1,172    990,000    991,172 
Opening balance as at 01 February 2023 2,752    863,767    866,519 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 840   
Prepayments & Accrued Income   50 
840    50 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   2,060 
Corporation Tax 495   
Accrued Expenses 900    9,320 
Other Creditors 265   
Other Borrowings 204,112    214,437 
205,772    225,817 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 591,188    591,188 
591,188    591,188 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 32,624    8,827 
32,624    8,827 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

3