Annabelle Caplan Limited Filleted accounts for Companies House (small and micro)

Annabelle Caplan Limited Filleted accounts for Companies House (small and micro)

ANNABELLE CAPLAN LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05858112
Annabelle Caplan Limited
Filleted Unaudited Financial Statements
28 February 2023
Annabelle Caplan Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,025,000
2,025,000
Current assets
Debtors
6
117,254
71,995
Cash at bank and in hand
705,854
842,420
---------
---------
823,108
914,415
Creditors: amounts falling due within one year
7
72,867
58,935
---------
---------
Net current assets
750,241
855,480
------------
------------
Total assets less current liabilities
2,775,241
2,880,480
------------
------------
Net assets
2,775,241
2,880,480
------------
------------
Capital and reserves
Called up share capital
9
16,000
16,000
Profit and loss account
2,759,241
2,864,480
------------
------------
Shareholder funds
2,775,241
2,880,480
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Annabelle Caplan Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 17 November 2023 , and are signed on behalf of the board by:
A E Caplan
Director
Company registration number: 05858112
Annabelle Caplan Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office 3, 1 Rutledge Mews, 1 Southbourne Road, Sheffield, S10 2QN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents amounts receivable in respect of rentals of properties during the year.
Income tax
Provision is made at current rates for tax deferred in respect of all material timing differences. The company has not adopted a policy of discounting deferred tax assets and liabilities.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Freehold property
Equipment
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
2,025,000
2,240
2,027,240
------------
-------
------------
Depreciation
At 1 March 2022 and 28 February 2023
–
2,240
2,240
------------
-------
------------
Carrying amount
At 28 February 2023
2,025,000
–
2,025,000
------------
-------
------------
At 28 February 2022
2,025,000
–
2,025,000
------------
-------
------------
The revaluation is based on a professional valuation of all properties at 28 February 2022.
6. Debtors
2023
2022
£
£
Trade debtors
50,340
37,596
Other debtors
66,914
34,399
---------
--------
117,254
71,995
---------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
12,150
2,336
Corporation tax
8,152
–
Social security and other taxes
517
–
Other creditors
52,048
56,599
--------
--------
72,867
58,935
--------
--------
8. Deferred tax
In the event that the company's freehold properties were disposed of at their valuations as at 28 February 2023, a tax liability would be realised amounting to £139,000 (2022: £139,000). The director has confirmed that there is no intention to dispose of any properties in the foreseeable future and no provision for the deferred tax liability has been made in these accounts.
9. Called up share capital
Authorised share capital
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
16,000
16,000
16,000
16,000
--------
--------
--------
--------
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
16,000
16,000
16,000
16,000
--------
--------
--------
--------
10. Director's advances, credits and guarantees
At 28 February 2023, the director's loan account was overdrawn by £62,519 (2022: £34,372), which was the maximum overdrawn in the year. This has been fully repaid since the year end.
11. Related party transactions
The company was under the control of Mrs A E Caplan throughout the year. Mrs A E Caplan is the managing director and sole shareholder.