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Registered number: 14067850
Costello Estates Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
KFH Accounting Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2
Page 1
Balance Sheet
Registered number: 14067850
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 149,456 -
149,456 -
CURRENT ASSETS
Debtors 210 1,160
Cash at bank and in hand 1,757 58,196
1,967 59,356
Creditors: Amounts Falling Due Within One Year (156,322 ) (61,117 )
NET CURRENT ASSETS (LIABILITIES) (154,355 ) (1,761 )
TOTAL ASSETS LESS CURRENT LIABILITIES (4,899 ) (1,761 )
NET LIABILITIES (4,899 ) (1,761 )
CAPITAL AND RESERVES
Called up share capital 5 10 10
Profit and Loss Account (4,909 ) (1,771 )
SHAREHOLDERS' FUNDS (4,899) (1,761)
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mark Costello
Director
30/01/2025
The notes on page 2 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Costello Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14067850 . The registered office is 43 The Old Gasworks, 43 Progress Road, Leigh on Sea, Essex, SS9 5PR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 3)
1 3
4. Investment Property
2024
£
Fair Value
As at 1 May 2023 -
Additions 149,456
As at 30 April 2024 149,456
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
6. Additional Note to the Accounts
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Page 2