The capacitors limit the current an create a voltage divider to drop the voltage to a safe level, while the LEDs give 0.7 volt drop and need 20ma of current. in my mind 0.7v/0.020a= resistance of 35ohms x4 LEDs 140ohms. Even though 8 series capacitors can be swapped with a single 247nf cap, its something i wont do.