Castle Properties Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC266071 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Castle Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Khan

Mrs S Khan

SECRETARY:

Mrs S Khan

REGISTERED OFFICE:

23 Pilrig Street

Edinburgh

EH6 5AN

REGISTERED NUMBER:

SC266071 (Scotland)

ACCOUNTANTS:

Isaacs

Trust House

St James Business Park

5 New Augustus Street

Bradford

West Yorkshire

BD1 5LL

FIXED ASSETS

Investments

4

8,879,862

8,879,862

CURRENT ASSETS

Cash at bank and in hand

543,225

465,677

CREDITORS

Amounts falling due within one year

5

2,374,350

2,492,237

NET CURRENT LIABILITIES

(1,831,125

)

(2,026,560

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,048,737

6,853,302

CREDITORS

Amounts falling due after more than one year

6

4,744,246

4,987,903

NET ASSETS

2,304,491

1,865,399

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,304,489

1,865,397

SHAREHOLDERS' FUNDS

2,304,491

1,865,399

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 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 16 March 2023 and were signed on its behalf by:

A Khan - Director

1.	STATUTORY INFORMATION

Castle Properties Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2021

and 31 March 2022

8,879,862

NET BOOK VALUE

At 31 March 2022

8,879,862

At 31 March 2021

8,879,862

The fixed asset investment consists of 17 investment properties.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

381,284

381,284

Tax

103,134

101,651

VAT

934

1,064

3A Solutions Loan

1,452,664

1,452,664

Directors' current accounts

433,546

553,546

Accrued expenses

2,788

2,028

2,374,350

2,492,237

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

762,567

762,567

Bank loans - 2-5 years

1,143,851

1,143,851

Bank loans more 5 yr by instal

2,837,828

3,081,485

4,744,246

4,987,903

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,837,828

3,081,485

7.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

5,125,530

5,369,187