Capricorn Freeholds Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07545025 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

CAPRICORN FREEHOLDS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C M Anam

REGISTERED OFFICE:

1st Floor, Commerce House

1 Raven Road

South Woodford

London

E18 1HB

REGISTERED NUMBER:

07545025 (England and Wales)

FIXED ASSETS

Property, plant and equipment

4

913

1,218

Investments

5

100

100

Investment property

6

3,132,643

3,030,663

3,133,656

3,031,981

CURRENT ASSETS

Debtors

7

-

93,835

Cash at bank and in hand

267,494

156,574

267,494

250,409

CREDITORS

Amounts falling due within one year

8

2,297,622

2,292,362

NET CURRENT LIABILITIES

(2,030,128

)

(2,041,953

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,103,528

990,028

PROVISIONS FOR LIABILITIES

110,175

92,897

NET ASSETS

993,353

897,131

CAPITAL AND RESERVES

Called up share capital

200

200

Fair value reserve

467,579

393,675

Retained earnings

525,574

503,256

SHAREHOLDERS' FUNDS

993,353

897,131

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 14 September 2023 and were signed by:

C M Anam - Director

1.	STATUTORY INFORMATION

Capricorn Freeholds Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07545025 and the registered office address is 1st Floor, Commerce House, 1 Raven Road, South Woodford, London, E18 1HB.

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.

Turnover

Turnover represents rents receivable.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

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.

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 its financial instruments.

Financial instruments are recognised 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 includes trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial instruments (continued)

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and preference shares classed as debt, are initially 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

Equity Instruments

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

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.

Going concern

At the balance sheet date, the company had net current liabilities of £2,030,128 (2021: £2,041,953). The director believes that the company, with continued support from the creditors, has adequate resources to continue to operate. The director considers it appropriate to continue using the going concern basis in the preparation of the financial statements. The financial statements do not include any adjustments that would result if support from the director was not continued.

3.	EMPLOYEES AND DIRECTORS

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

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2022

and 31 December 2022

4,700

DEPRECIATION

At 1 January 2022

3,482

Charge for year

305

At 31 December 2022

3,787

NET BOOK VALUE

At 31 December 2022

913

At 31 December 2021

1,218

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2022

and 31 December 2022

100

NET BOOK VALUE

At 31 December 2022

100

At 31 December 2021

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

3,030,663

Additions

10,740

Revaluations

91,240

At 31 December 2022

3,132,643

NET BOOK VALUE

At 31 December 2022

3,132,643

At 31 December 2021

3,030,663

Fair value at 31 December 2022 is represented by:

£

Valuation in 2016

137,462

Valuation in 2020

350,253

Valuation in 2022

91,240

Cost

2,553,688

3,132,643

If the investment properties had not been revalued they would have been included at the following historical cost:

2022

2021

£

£

Cost

2,553,688

2,384,188

The investment properties were valued on an open market basis on 31 December 2022 by the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

-

93,835

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed to group undertakings

2,212,993

2,212,173

Taxation and social security

11,814

12,177

Other creditors

72,815

68,012

2,297,622

2,292,362

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

2022

2021

£

£

C M Anam

Balance outstanding at start of year

93,836

(164

)

Amounts advanced

24,000

134,000

Amounts repaid

(117,836

)

(40,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

93,836

10.	RELATED PARTY DISCLOSURES

Canam Ltd

A company in which C M Anam is a director and shareholder.

The balance owed to the related party at the year end was £57,242 (2021:£58,262).

Canam Construction Limited

A company in which C M Anam is a director.

The company is wholly owned by Capricorn Freehold Limited. Capricorn Freehold Limited is 100% owned by C M Anam.

During the year Canam Construction Limited, a company under the control of C M Anam, paid expenses of £820 on behalf of Capricorn Freeholds Limited. The balance owed to Canam Construction Limited at the year end was £2,212,992 (2021:£2,212,172).