REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 20 APRIL 2023 TO 30 APRIL 2024 |
FOR |
CASA DEL MUNDO LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 20 APRIL 2023 TO 30 APRIL 2024 |
FOR |
CASA DEL MUNDO LTD |
CASA DEL MUNDO LTD (REGISTERED NUMBER: SC766730) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 20 APRIL 2023 TO 30 APRIL 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
CASA DEL MUNDO LTD |
COMPANY INFORMATION |
for the period 20 APRIL 2023 TO 30 APRIL 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
CASA DEL MUNDO LTD (REGISTERED NUMBER: SC766730) |
STATEMENT OF FINANCIAL POSITION |
30 APRIL 2024 |
Notes | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges her 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 DEL MUNDO LTD (REGISTERED NUMBER: SC766730) |
STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2024 |
The financial statements were approved by the director and authorised for issue on |
CASA DEL MUNDO LTD (REGISTERED NUMBER: SC766730) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 20 APRIL 2023 TO 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Casa Del Mundo Ltd is a private company, limited by shares, registered in Scotland, registration number SC766730. The registered office is 18 Rouken Glen Road, Giffnock, Glasgow G46 7JL. |
The principal activity of the company is property letting. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentational and functional currency of the financial statements is Pounds Sterling (£). |
Significant judgements and estimates |
In preparing these financial statements, the director is required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements: |
Valuation of investment property |
As noted below, investment property is included in the Statement of Financial Position at fair value. The valuation is based on the directors' consideration of several factors including previous professional valuations, local market conditions, estate agent valuations, and recent selling prices of similar properties. |
Investment property |
Investment property is included at fair value. Gains/losses are recognised in the Income Statement. Deferred taxation is provided on gains at the rate expected to apply when the property is sold. |
Financial instruments |
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Debtors |
Short term debtors are measured at transaction price. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Provisions |
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. |
CASA DEL MUNDO LTD (REGISTERED NUMBER: SC766730) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 20 APRIL 2023 TO 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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 period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
CASA DEL MUNDO LTD (REGISTERED NUMBER: SC766730) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 20 APRIL 2023 TO 30 APRIL 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
£ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 134,261 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
A standard security is in place over the rental property in favour of Aldermore Bank plc. |