Registration number:
Castleton Estates Ltd
for the Year Ended 31 March 2024
Castleton Estates Ltd
(Registration number: NI025972)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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|
|
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Current assets |
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Debtors |
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Cash at bank and in hand |
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|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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|
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Provisions for liabilities |
( |
( |
|
Net assets |
|
|
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Capital and reserves |
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Called up share capital |
237,505 |
237,505 |
|
Retained earnings |
473,446 |
270,817 |
|
Shareholders' funds |
710,951 |
508,322 |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Castleton Estates Ltd
(Registration number: NI025972)
Balance Sheet as at 31 March 2024
Approved and authorised by the
......................................... |
Castleton Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Rental income is recognised on a straight line basis over the lease term.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Castleton Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
15% per year straight line basis |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Castleton Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Tangible assets |
Plant and machinery |
Total |
|
Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Investment properties |
2024 |
2023 |
|
At 1 April |
|
600,000 |
Revaluation |
|
- |
At 31 March |
|
600,000 |
The Company's investment properties were revalued to open market value in March 2024 by the independent, external valuers, Frazer Kidd.
Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Prepayments |
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Castleton Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
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Taxation and social security |
|
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Other creditors and accruals |
|
|
Director's current account |
75,940 |
133,829 |
|
|
Provisions for liabilities |
2024 |
2023 |
|
Deferred taxation |
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At 1 April |
624 |
856 |
Credited to profit and loss account |
(218) |
(232) |
At 31 March |
406 |
624 |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
Ordinary Shares of £1 each |
237,505 |
237,505 |
237,505 |
237,505 |
Related party transactions |
At the balance sheet date the amount owed to the Director, Mr R Jennings, totalled £75,940 (2023: £133,829). The director waived entitlement to interest due.