Castleton Estates Ltd NI025972 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true true NI025972 2023-04-01 2024-03-31 NI025972 2024-03-31 NI025972 core:CurrentFinancialInstruments 2024-03-31 NI025972 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI025972 core:OtherPropertyPlantEquipment 2024-03-31 NI025972 bus:SmallEntities 2023-04-01 2024-03-31 NI025972 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI025972 bus:FilletedAccounts 2023-04-01 2024-03-31 NI025972 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI025972 bus:RegisteredOffice 2023-04-01 2024-03-31 NI025972 bus:Director1 2023-04-01 2024-03-31 NI025972 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI025972 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 NI025972 core:PlantMachinery 2023-04-01 2024-03-31 NI025972 countries:NorthernIreland 2023-04-01 2024-03-31 NI025972 2023-03-31 NI025972 core:OtherPropertyPlantEquipment 2023-03-31 NI025972 2022-04-01 2023-03-31 NI025972 2023-03-31 NI025972 core:CurrentFinancialInstruments 2023-03-31 NI025972 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI025972 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: NI025972

Castleton Estates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Castleton Estates Ltd

(Registration number: NI025972)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,163

3,315

Investment property

5

785,000

600,000

 

787,163

603,315

Current assets

 

Debtors

6

8,329

6,012

Cash at bank and in hand

 

18,769

54,895

 

27,098

60,907

Creditors: Amounts falling due within one year

7

(102,904)

(155,276)

Net current liabilities

 

(75,806)

(94,369)

Total assets less current liabilities

 

711,357

508,946

Provisions for liabilities

8

(406)

(624)

Net assets

 

710,951

508,322

Capital and reserves

 

Called up share capital

9

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 11 November 2024 and signed on its behalf by:
 

.........................................
Mr Roger Jennings
Director

 

Castleton Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 39 Ravenhill Park, Belfast, BT6 0DG.

These financial statements were authorised for issue by the Board on 11 November 2024.

2

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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Castleton Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

20,529

20,529

At 31 March 2024

20,529

20,529

Depreciation

At 1 April 2023

17,214

17,214

Charge for the year

1,152

1,152

At 31 March 2024

18,366

18,366

Carrying amount

At 31 March 2024

2,163

2,163

At 31 March 2023

3,315

3,315

5

Investment properties

2024
£

2023
£

At 1 April

600,000

600,000

Revaluation

185,000

-

At 31 March

785,000

600,000

The Company's investment properties were revalued to open market value in March 2024 by the independent, external valuers, Frazer Kidd.

6

Debtors

Current

2024
£

2023
£

Trade debtors

7,328

5,460

Prepayments

1,001

552

 

8,329

6,012

 

Castleton Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

6,797

9,011

Other creditors and accruals

20,167

12,436

Director's current account

75,940

133,829

102,904

155,276

8

Provisions for liabilities

2024
£

2023
£

Deferred taxation

At 1 April

624

856

Credited to profit and loss account

(218)

(232)

At 31 March

406

624

9

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

       

10

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.