Capstan Construction Limited - Limited company accounts 20.1

REGISTERED NUMBER: 07928279 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Capstan Construction Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

D W Osborne

A M R Osborne

J R W Osborne

H E R Osborne

SECRETARY:

J R W Osborne

REGISTERED OFFICE:

Flat 1

43 West Park

London

SE9 4RZ

REGISTERED NUMBER:

07928279 (England and Wales)

ACCOUNTANTS:

Sawin & Edwards LLP Chartered Accountants

Studio 16

Cloisters House

8 Battersea Park Road

London

SW8 4BG

The directors present their report with the financial statements of the company for the year ended 31 March 2022.

CESSATION OF TRADING

The company ceased trading on 31 March 2022.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2021 to the date of this report.

D W Osborne

A M R Osborne

J R W Osborne

H E R Osborne

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

A M R Osborne - Director

12 May 2022

INCOME

55,333

7,452

Cost of sales

(21,120

)

(7,824

)

GROSS PROFIT/(LOSS)

34,213

(372

)

Administrative expenses

(15,251

)

(19,369

)

18,962

(19,741

)

Other operating income

5,700

13,778

OPERATING PROFIT/(LOSS) and

PROFIT/(LOSS) BEFORE TAXATION

24,662

(5,963

)

Tax on profit/(loss)

-

PROFIT/(LOSS) FOR THE
FINANCIAL YEAR

24,662

(5,963

)

CURRENT ASSETS

Debtors

4

-

2

Cash at bank

7

13,554

7

13,556

CREDITORS

Amounts falling due within one year

5

(7

)

(28,216

)

NET CURRENT LIABILITIES

-

(14,660

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

-

(14,660

)

CAPITAL AND RESERVES

Called up share capital

-

2

Retained earnings

-

(14,662

)

SHAREHOLDERS' FUNDS

-

(14,660

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2022 and were signed on its behalf by:

D W Osborne - Director

1.	STATUTORY INFORMATION

Capstan Construction Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements present information about the company as a single entity.

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.

Income

Rental income received from holiday lettings is recognised in the period in which the client occupies the holiday accommodation.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like other debtors and creditors. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instruments.

Debtors and creditors

Basic financial assets and liabilities, including other debtors and creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets and liabilities are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand and at bank.

Taxation

The tax expense for the year comprises current tax.

Tax is recognised in profit or loss, except that a change attributable to an item of income and expense recognised as other comprehensive income, or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity, respectively.

Current tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Government grants

Grants that become receivable as compensation for expenses, or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised in income, in the period in which it becomes receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 4 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

Other debtors

-

2

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

Amounts owed to group undertakings

-

27,008

Other creditors

7

1,208

7

28,216

6.	RELATED PARTY DISCLOSURES

The directors, D W Osborne, H E R Osborne, J R W Osborne and A M R Osborne are designated members of Capstan Partners LLP, the ultimate parent company of Capstan Construction Ltd.

During the year, rechargeable expenses, management charges and share of revenue amounting to £16,557 (2021: £4,021) were levied and recharged by Capstan Partners LLP to Capstan Construction Limited. During the year, rechargeable expenses amounting to £Nil (2021: £1,040) were levied and recharged by Capstan Construction Limited to Capstan Partners LLP. At the year ended, the balance owed by Capstan Construction Limited to Capstan Partners LLP amounted to £Nil (2021: £2,008).

At the year ended, the balance of loans owed by Capstan Construction Limited to Capstan Partners LLP amounted to £Nil (2021: £25,000). The loan was unsecured, interest free and with no fixed repayment terms.

7.	FINANCIAL INSTRUMENTS

The company's financial instruments comprise cash and cash equivalents and various items such as other debtors, trade and other creditors, that arise directly from its operations.

The main purpose of these financial instruments is to finance the company's operations.

The board regularly reviews and agrees policies for managing the level of risk arising from the company's financial instruments. This is summarised below:

Liquidity risk

Liquidity risk is the risk the company will not be able to meet its financial obligations as they fall due. The company's policy throughout the period has been to ensure that it has adequate liquidity to meet its liabilities when due by careful management of its working capital.