Registered number
00643324
Castle Court Investment Company (Southampton) Limited
Filleted Accounts
31 March 2024
Castle Court Investment Company (Southampton) Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 1
Accountants' report 2
Profit and loss account 2
Balance sheet 3
Notes to the accounts 5
Castle Court Investment Company (Southampton) Limited
Company Information
Directors
Mrs AEM Grieb-Young
Mr A Grieb-Young
Mrs AM Clark
Secretary
Mr A Grieb-Young
Accountants
Kimball Smith
Brewery House
High Street
Twyford
SO21 1RG
Bankers
Handelsbanken
Registered office
Copythorne Lodge
Romsey Road
Copythorne
Southampton
SO40 2PB
Registered number
00643324
Castle Court Investment Company (Southampton) Limited
Registered number: 00643324
Directors' Report
The directors present their report and accounts for the year ended 31 March 2024.
Principal activities
The company's principal activity during the year continued to be the ownership and management of residential rental properties.
Directors
The following persons served as directors during the year:
Mrs AEM Grieb-Young
Mr A Grieb-Young
Mrs AM Clark
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 11 February 2025 and signed on its behalf.
Mrs AEM Grieb-Young
Director
Castle Court Investment Company (Southampton) Limited
Registered number: 00643324
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,358 2,328
Investments 4 2,234,019 3,029,454
2,235,377 3,031,782
Current assets
Cash at bank and in hand 258,095 80,178
Creditors: amounts falling due within one year 5 (1,421,182) (1,505,100)
Net current liabilities (1,163,087) (1,424,922)
Total assets less current liabilities 1,072,290 1,606,860
Creditors: amounts falling due after more than one year 6 - (767,250)
Provisions for liabilities (24,517) (23,855)
Net assets 1,047,773 815,755
Capital and reserves
Called up share capital 40 40
Revaluation reserve 7 124,266 147,754
Profit and loss account 923,467 667,961
Shareholders' funds 1,047,773 815,755
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs AEM Grieb-Young
Director
Approved by the board on 11 February 2025
Castle Court Investment Company (Southampton) Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 3,410
At 31 March 2024 3,410
Depreciation
At 1 April 2023 1,082
Charge for the year 970
At 31 March 2024 2,052
Net book value
At 31 March 2024 1,358
At 31 March 2023 2,328
4 Investments
Other
investments
£
Cost
At 1 April 2023 3,029,454
Disposals (795,435)
At 31 March 2024 2,234,019
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 9,000
Trade creditors 5,474 14,229
Taxation and social security costs 109,103 142,521
Other creditors 1,306,605 1,339,350
1,421,182 1,505,100
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 767,250
7 Revaluation reserve 2024 2023
£ £
At 1 April 2023 147,754 147,754
Revaluation on sale of investment properties (23,488) -
At 31 March 2024 124,266 147,754
8 Related party transactions
During the year Mrs AEM Grieb-Young charged a management fee of £5,000 (2023 - £5,000) for management services rendered. At 31 March 2024 the amount owing to Mrs AEM Grieb-Young was £5,000. (2023 - £5,000).
During the year Mr A Grieb-Young charged a management fee of £5,000 (2023 - £6,200) for management services rendered and fees in respect of property repairs and renewals of £14,575 (2023 - £nil). At 31 March 2024 the amount owing to Mr A Grieb-Young was £19,575 (2023 - £6,200).
9 Other information
Castle Court Investment Company (Southampton) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Copythorne Lodge
Romsey Road
Copythorne
Southampton
SO40 2PB
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