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REGISTERED NUMBER: 10951049 (England and Wales)














Churn Investments Limited

Unaudited Financial Statements

for the Year Ended 28 February 2022






Churn Investments Limited (Registered number: 10951049)

Contents of the Financial Statements
for the Year Ended 28 February 2022










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


Churn Investments Limited

Company Information
for the Year Ended 28 February 2022







Directors: T.B. Robson
Mrs J M Robson





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: 242 Sleaford Road
Boston
Lincolnshire
PE21 7PG





Registered number: 10951049 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Churn Investments Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Churn Investments Limited for the year ended 28 February 2022 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Churn Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Churn Investments Limited and state those matters that we have agreed to state to the Board of Directors of Churn Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Churn Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Churn Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Churn Investments Limited. You consider that Churn Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Churn Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


7 September 2022

Churn Investments Limited (Registered number: 10951049)

Statement of Financial Position
28 February 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Tangible assets 5 3,711 3,564
Investment property 6 299,272 299,272
302,983 302,836

Current assets
Debtors 7 1,240,144 610,926
Cash at bank 23,074 17,646
1,263,218 628,572
Creditors
Amounts falling due within one year 8 849,203 226,167
Net current assets 414,015 402,405
Total assets less current liabilities 716,998 705,241

Creditors
Amounts falling due after more than one
year

9

(700,000

)

(700,000

)

Provisions for liabilities (705 ) (677 )
Net assets 16,293 4,564

Capital and reserves
Called up share capital 10 100 100
Retained earnings 16,193 4,464
Shareholders' funds 16,293 4,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Churn Investments Limited (Registered number: 10951049)

Statement of Financial Position - continued
28 February 2022


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:





T.B. Robson - Director


Churn Investments Limited (Registered number: 10951049)

Notes to the Financial Statements
for the Year Ended 28 February 2022


1. Statutory information

Churn Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Churn Investments Limited (Registered number: 10951049)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022


4. Employees and directors

The average number of employees during the year was 1 (2021 - 1 ) .

5. Tangible fixed assets
Fixtures,
fittings
Plant and and
machinery equipment Totals
£    £    £   
Cost
At 1 March 2021 7,800 - 7,800
Additions - 1,557 1,557
At 28 February 2022 7,800 1,557 9,357
Depreciation
At 1 March 2021 4,236 - 4,236
Charge for year 891 519 1,410
At 28 February 2022 5,127 519 5,646
Net book value
At 28 February 2022 2,673 1,038 3,711
At 28 February 2021 3,564 - 3,564

6. Investment property
Total
£   
Fair value
At 1 March 2021
and 28 February 2022 299,272
Net book value
At 28 February 2022 299,272
At 28 February 2021 299,272

7. Debtors
2022 2021
£    £   
Amounts falling due within one year:
Trade debtors 10,676 10,676
Loans - 86,363
Prepayments and accrued income 30,038 4,017
40,714 101,056

Amounts falling due after more than one year:
Loans 1,199,430 509,870

Aggregate amounts 1,240,144 610,926

Churn Investments Limited (Registered number: 10951049)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022


8. Creditors: amounts falling due within one year
2022 2021
£    £   
Tax 2,614 370
Other creditors 14,500 14,500
Directors' loan accounts 807,691 194,831
Accruals and deferred income 24,398 16,466
849,203 226,167

9. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Directors' loan accounts 700,000 700,000

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary shares £1 100 100