Castletree Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03875861 (England and Wales)

Financial Statements for the Year Ended 30 April 2017

for

Castletree Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss C Phillips

Mr F Farrell

Mr A M Holden

SECRETARY:

Streatham Secretarial Limited

REGISTERED OFFICE:

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

REGISTERED NUMBER:

03875861 (England and Wales)

ACCOUNTANTS:

Gibsons Financial Limited

Chartered Accountants

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

FIXED ASSETS

Tangible assets

3

7,543,993

6,160,964

CURRENT ASSETS

Debtors

43,357

36,858

Cash at bank

119,007

125,567

162,364

162,425

CREDITORS

Amounts falling due within one year

(326,520

)

(135,121

)

NET CURRENT (LIABILITIES)/ASSETS

(164,156

)

27,304

TOTAL ASSETS LESS CURRENT LIABILITIES

7,379,837

6,188,268

CREDITORS

Amounts falling due after more than one year

4

(1,559,978

)

(1,836,992

)

PROVISIONS FOR LIABILITIES

(551,817

)

(309,278

)

NET ASSETS

5,268,042

4,041,998

CAPITAL AND RESERVES

Called up share capital

200

200

Non distributable reserves

2,204,805

2,204,805

Retained earnings

3,063,037

1,836,993

SHAREHOLDERS' FUNDS

5,268,042

4,041,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 25 August 2017 and were signed on its behalf by:

Mr F Farrell - Director

1.	STATUTORY INFORMATION

Castletree 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 excluding Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures & fittings

-

20% on cost

Investment property, which is property held to earn rentals and for capital appreciation, is initially recognised

at cost, which includes the purchase cost and any directly attributable expenditure.Subsequently it is measured

at fair value at the reporting end date.The surplus or deficit on revaluation is recognised in the profit and loss

account.

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.

3.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 May 2016

6,449,054

Revaluations

1,390,000

At 30 April 2017

7,839,054

DEPRECIATION

At 1 May 2016

288,090

Charge for year

6,971

At 30 April 2017

295,061

NET BOOK VALUE

At 30 April 2017

7,543,993

At 30 April 2016

6,160,964

Cost or valuation at 30 April 2017 is represented by:

Investment

Fixtures

properties

& fittings

Totals

£

£

£

Valuation in 2010

1,192,830

-

1,192,830

Valuation in 2014

1,321,253

-

1,321,253

Valuation in 2017

1,390,000

-

1,390,000

Cost

3,631,135

303,836

3,934,971

7,535,218

303,836

7,839,054

The company's freehold and leasehold properties are held as investments and have been included in the

accounts at the directors' valuation. They consider the market value of the investment properties to be

£7,535,218 as at 30 April 2017.These valuations reflect the valuation carried out by Lamberts Chartered

Surveyors in June 2017.

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30/4/17

30/4/16

£

£

Repayable otherwise than by instalments

Bank loans > 5 years

1,159,958

1,239,964

5.	SECURED DEBTS

The following secured debts are included within creditors:

30/4/17

30/4/16

£

£

Bank loans

1,832,482

1,922,486

The company's bank borrowings are secured by legal charges over its Investment Properties.

6.	RELATED PARTY DISCLOSURES

Woodcliff Ltd

During the year, the company provided management services to the sum of £28,750 ( 2016 £28,750) to its

associate company, Woodcliff Limited, incorporated in England. The amount due from Woodcliff Limited at

the balance sheet date was £28,750.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Farrell Family Life Interest Settlement.