Company registration number 11986730 (England and Wales)
CAAV PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CAAV PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CAAV PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
4,530,000
4,282,500
Investments
4
50
50
4,530,050
4,282,550
Current assets
Cash at bank and in hand
100
100
Creditors: amounts falling due within one year
5
(1,171,219)
(2,414,286)
Net current liabilities
(1,171,119)
(2,414,186)
Total assets less current liabilities
3,358,931
1,868,364
Creditors: amounts falling due after more than one year
6
(1,552,018)
(1,551,782)
Provisions for liabilities
7
(1,235,875)
-
0
Net assets
571,038
316,582
Capital and reserves
Called up share capital
10
1,100
1,100
Profit and loss reserves
569,938
315,482
Total equity
571,038
316,582

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CAAV PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 20 March 2025
S O'Driscoll
Director
Company registration number 11986730 (England and Wales)
CAAV PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

CAAV Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for property rental services provided in the normal course of business.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Fixed asset investments

Interests in jointly controlled entities are measured at cost.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

CAAV PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

The company provides pension benefits for senior employees. Under the terms of the pension contracts entered into with the senior employees, fixed sums are provided for now in order to provide pension benefits to the individuals upon their retirement. The pension contracts allow for an annual increase in respect of indexation over and above the initial contracted amount.

Although under section 28 of FRS 102 this pension arrangement is regarded as being a defined benefit scheme, the directors consider that it does not bear any of the hallmarks of a defined benefit scheme as the company’s contributions are fixed until the point of retirement at which point any further contributions of annual increases cease. Further information can be found in note 8 to the financial statements.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
CAAV PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Investment property
2024
£
Fair value
At 1 April 2023
4,282,500
Revaluations
247,500
At 31 March 2024
4,530,000

The investment property has been revalued, based on the directors' valuation, to reflect its open market value as at the balance sheet date. The valuations were made by reference to market evidence of transaction prices for similar properties. The historical cost of the investment properties amounts to £4,282,500.

4
Fixed asset investments
2024
2023
£
£
Shares in participating interests
50
50
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
22,943
41,751
Other creditors
1,148,276
2,372,535
1,171,219
2,414,286
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
1,552,018
1,551,782

The bank loans are secured against the investment properties to which they relate.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
215
235
Payable other than by instalments
1,379,457
1,379,221
1,379,672
1,379,456
CAAV PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Provisions for liabilities
2024
2023
£
£
Retirement benefit scheme
8
1,174,000
-
Deferred tax liabilities
9
61,875
-
0
1,235,875
-
0
Movements on provisions apart from deferred tax liabilities:
Retirement benefit scheme
£
Additional provisions in the year
1,174,000
8
Retirement benefit schemes
Defined contribution schemes

The company has entered into an agreement to transfer pension liability amounting to £1,174,000 from a company in which the senior employee has a controlling interest. The company has, as part of this agreement offset the pension liability against the corresponding debts owed by those companies.

 

The company provided pension benefits in respect of senior employees. Amounts payable are charged to the profit and loss account in the year the contracts are entered into between the company and the employees. The number of directors to whom benefits are accruing under these pension agreements is 1.

 

The contributions and potential liabilities of the company in respect of the pension agreements are fixed at least until the date of retirement of the employees.

Although under section 28 of FRS 102 this pension arrangement is regarded as being a defined benefit scheme, the directors are of the opinion that it does not bear any of the hallmarks of what is usually considered to be a defined benefit scheme and therefore no further disclosures are considered necessary in order to understand the nature and measurement of the liability.

The directors are also of the opinion that the liability as disclosed in the financial statements represents the full and final amount which could be expected, at this stage, to be paid in the future to settle the pension agreement liabilities.

9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Revaluations
61,875
-
CAAV PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
9
Deferred taxation
(Continued)
- 7 -
2024
Movements in the year:
£
Liability at 1 April 2023
-
Charge to profit or loss
61,875
Liability at 31 March 2024
61,875
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,100
1,100
1,100
1,100
11
Related party transactions

Included within other creditors is £1,079,389 (2023: £1,172,180) due to the director as at the balance sheet date.

 

Included within other creditors is £66,498 (2023: £1,196,574) due to companies in which S O'Driscoll is a director.

2024-03-312023-04-01false20 March 2025CCH SoftwareCCH Accounts Production 2024.100No description of principal activityS O'Driscollfalsefalse119867302023-04-012024-03-31119867302024-03-31119867302023-03-3111986730core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3111986730core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3111986730core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3111986730core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3111986730core:CurrentFinancialInstruments2024-03-3111986730core:CurrentFinancialInstruments2023-03-3111986730core:Non-currentFinancialInstrumentscore:MoreThanFiveYears2024-03-3111986730core:Non-currentFinancialInstrumentscore:MoreThanFiveYears2023-03-3111986730core:ShareCapital2024-03-3111986730core:ShareCapital2023-03-3111986730core:RetainedEarningsAccumulatedLosses2024-03-3111986730core:RetainedEarningsAccumulatedLosses2023-03-3111986730bus:Director12023-04-012024-03-31119867302022-04-012023-03-31119867302023-03-3111986730core:Non-currentFinancialInstruments2024-03-3111986730core:Non-currentFinancialInstruments2023-03-3111986730bus:PrivateLimitedCompanyLtd2023-04-012024-03-3111986730bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111986730bus:FRS1022023-04-012024-03-3111986730bus:AuditExemptWithAccountantsReport2023-04-012024-03-3111986730bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP