Capla Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06479024 (England and Wales)

CAPLA HOMES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

C J Richardson

P Stubbins

REGISTERED OFFICE:

Let It House

Lombard Street

Newark

Nottinghamshire

NG24 1XG

REGISTERED NUMBER:

06479024 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

FIXED ASSETS

Investment property

4

1,880,000

1,825,000

CURRENT ASSETS

Debtors

5

92,905

89,807

CREDITORS

Amounts falling due within one year

6

4,813

5,493

NET CURRENT ASSETS

88,092

84,314

TOTAL ASSETS LESS CURRENT LIABILITIES

1,968,092

1,909,314

CREDITORS

Amounts falling due after more than one year

7

(1,320,476

)

(1,319,450

)

PROVISIONS FOR LIABILITIES

(6,031

)

(2,452

)

NET ASSETS

641,585

587,412

CAPITAL AND RESERVES

Called up share capital

9

2

2

Revaluation reserve

10

347,990

296,569

Retained earnings

293,593

290,841

SHAREHOLDERS' FUNDS

641,585

587,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2021 and were signed on its behalf by:

C J Richardson - Director

1.	STATUTORY INFORMATION

Capla Homes Ltd 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Revenue represents the rents payable to the company.

Revenue is recognised on the sale of land and houses when the risks and rewards of the underlying sale have been substantially transferred to the customer, which is upon the exchange of contracts.

Revenue received on the letting of the properties is recognised on the accruals basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Investment properties

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2019

1,825,000

Revaluations

55,000

At 31 October 2020

1,880,000

NET BOOK VALUE

At 31 October 2020

1,880,000

At 31 October 2019

1,825,000

Fair value at 31 October 2020 is represented by:

£

Valuation in 2020

354,022

Cost

1,525,978

1,880,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

92,903

89,805

Other debtors

2

2

92,905

89,807

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

2,413

3,493

Accrued expenses

2,400

2,000

4,813

5,493

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Mortgages over 5 years

1,320,476

1,319,450

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgages over 5 years

1,320,476

1,319,450

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Mortgages

1,320,476

1,319,450

The mortgages are secured against the investment properties.

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2020

2019

value:

£

£

2

Ordinary shares

£1

2

2

10.

RESERVES

Revaluation

reserve

£

At 1 November 2019

296,569

Property revaluation

55,000

Deferred tax

(3,579

)

At 31 October 2020

347,990

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable revaluation reserve in order to assist with the identification of profits available for distribution.