Company Registration No. 11409526 (England and Wales)
Costa Rica Limited
Unaudited accounts
for the year ended 30 June 2024
Costa Rica Limited
Unaudited accounts
Contents
Costa Rica Limited
Company Information
for the year ended 30 June 2024
Company Number
11409526 (England and Wales)
Registered Office
54 Clyde Lane
Manchester
M20 2WJ
Accountants
Ruth Elliott & Co
50 Park Lane
Hartford
Northwich
Cheshire
CW8 1PY
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Costa Rica Limited for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Costa Rica Limited for the year ended
30 June 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Costa Rica Limited, as a body, in accordance with the terms of our engagement letter dated 7 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of Costa Rica Limited and state those matters that we have agreed to state to the Board of Directors of Costa Rica Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Costa Rica Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Costa Rica Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Costa Rica Limited. You consider that Costa Rica Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Costa Rica Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Ruth Elliott & Co
Chartered Accountants
50 Park Lane
Hartford
Northwich
Cheshire
CW8 1PY
26 February 2025
Costa Rica Limited
Statement of financial position
as at 30 June 2024
Investment property
942,728
699,784
Cash at bank and in hand
56,795
5,948
Creditors: amounts falling due within one year
(729,282)
(437,288)
Net current liabilities
(670,913)
(429,465)
Total assets less current liabilities
271,815
270,319
Creditors: amounts falling due after more than one year
(228,999)
(228,999)
Provisions for liabilities
Deferred tax
(8,633)
(8,633)
Called up share capital
10
10
Fair value reserve
33,647
33,647
Profit and loss account
526
(970)
Shareholders' funds
34,183
32,687
For the year ending 30 June 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 March 2025 and were signed on its behalf by
Mr Gjertsen
Director
Company Registration No. 11409526
Costa Rica Limited
Notes to the Accounts
for the year ended 30 June 2024
Costa Rica Limited is a private company, limited by shares, registered in England and Wales, registration number 11409526. The registered office is 54 Clyde Lane, Manchester, M20 2WJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 July 2023
699,784
Investment properties are stated at fair value as determined by the directors. The fair value of the property portfolio is based upon external valuations and is inherently subjective. The fair value represents the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation. In determining the fair value of investment properties, the directors make use of historical and current market data as well as existing lease agreements
Amounts falling due within one year
Costa Rica Limited
Notes to the Accounts
for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
(1)
-
Other creditors
1,575
1,874
Loans from directors
726,798
434,730
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
228,999
228,999
Allotted, called up and fully paid:
1,000 Ordinary shares of £0.01 each
10
10
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).