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REGISTERED NUMBER: 02004578 (England and Wales)














CASTLES ESTATE AGENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






CASTLES ESTATE AGENTS LIMITED (REGISTERED NUMBER: 02004578)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CASTLES ESTATE AGENTS LIMITED

COMPANY INFORMATION
for the Year Ended 30 APRIL 2024







DIRECTORS: P J Gleeson
O Tona





SECRETARY: P J Gleeson





REGISTERED OFFICE: 167 Turners Hill
Cheshunt
Hertfordshire
EN8 9BH





REGISTERED NUMBER: 02004578 (England and Wales)





ACCOUNTANTS: Brindley Jacob
Chartered Accountants
167 Turners Hill
Cheshunt
Hertfordshire
EN8 9BH

CASTLES ESTATE AGENTS LIMITED (REGISTERED NUMBER: 02004578)

ABRIDGED BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 471,334 511,518
Investments 5 613,000 613,000
Investment property 6 998,000 998,000
2,082,334 2,122,518

CURRENT ASSETS
Stocks 153,893 138,693
Debtors 3,739,994 3,674,474
Cash at bank and in hand 1,077,852 1,972,665
4,971,739 5,785,832
CREDITORS
Amounts falling due within one year 670,297 1,576,052
NET CURRENT ASSETS 4,301,442 4,209,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,383,776

6,332,298

CREDITORS
Amounts falling due after more than one
year

(71,074

)

(71,115

)

PROVISIONS FOR LIABILITIES (14,272 ) (22,438 )
NET ASSETS 6,298,430 6,238,745

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Other reserves 45,619 45,619
Retained earnings 6,251,811 6,192,126
SHAREHOLDERS' FUNDS 6,298,430 6,238,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

CASTLES ESTATE AGENTS LIMITED (REGISTERED NUMBER: 02004578)

ABRIDGED BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 January 2025 and were signed on its behalf by:





P J Gleeson - Director


CASTLES ESTATE AGENTS LIMITED (REGISTERED NUMBER: 02004578)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024

1. STATUTORY INFORMATION

Castles Estate Agents Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements
The financial statements contain information about Castles Estate Agents Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net commissions receivable, excluding value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Short leasehold - in accordance with the property
Improvements to property - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Stocks
Stocks are stated at the lower of cost and net realisable value. Net realisable value is based on the estimated selling price less any estimated selling costs.

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.


CASTLES ESTATE AGENTS LIMITED (REGISTERED NUMBER: 02004578)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 39 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 831,605
Additions 5,102
At 30 April 2024 836,707
DEPRECIATION
At 1 May 2023 320,087
Charge for year 45,286
At 30 April 2024 365,373
NET BOOK VALUE
At 30 April 2024 471,334
At 30 April 2023 511,518

CASTLES ESTATE AGENTS LIMITED (REGISTERED NUMBER: 02004578)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 May 2023
and 30 April 2024 613,000
NET BOOK VALUE
At 30 April 2024 613,000
At 30 April 2023 613,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 998,000
NET BOOK VALUE
At 30 April 2024 998,000
At 30 April 2023 998,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2018 170,387
Valuation in 2019 (252,000 )
Cost 1,079,613
998,000

The investment property has been measured at fair value which is the open market value. The fair value adjustment has been taken through the profit and loss account.