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REGISTERED NUMBER: 05124235 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CHARING DALE LIMITED

CHARING DALE LIMITED (REGISTERED NUMBER: 05124235)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Statement of Financial Position 1

Notes to the Financial Statements 2


CHARING DALE LIMITED (REGISTERED NUMBER: 05124235)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 2,471,677 2,547,593
2,471,677 2,547,593

CURRENT ASSETS
Debtors 7 1,107,522 1,117,951
Cash at bank and in hand 333,731 245,452
1,441,253 1,363,403
CREDITORS
Amounts falling due within one year 8 2,159,954 362,135
NET CURRENT (LIABILITIES)/ASSETS (718,701 ) 1,001,268
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,752,976

3,548,861

CREDITORS
Amounts falling due after more than one
year

9

-

(1,980,000

)

PROVISIONS FOR LIABILITIES 12 (108,370 ) (109,887 )
NET ASSETS 1,644,606 1,458,974

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 1,644,506 1,458,874
SHAREHOLDERS' FUNDS 1,644,606 1,458,974

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 30 August 2022 and were signed on its behalf by:



Y M Osman - Director


CHARING DALE LIMITED (REGISTERED NUMBER: 05124235)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Charing Dale Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05124235

Registered office: 368 Forest Road
London
E17 5JF

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


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.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Care related services

Turnover from a contract to provide care related services is recognised in the period in which services are provided on an accruals basis. Turnover recognised is dependent upon the type of care and funding that a resident receives. Any fees invoiced in advance are included within deferred income until the service is completed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Freehold property and improvements - 2% on cost
Fixtures, fittings and equipment - 25% on reducing balance

CHARING DALE LIMITED (REGISTERED NUMBER: 05124235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2020 - 64 ) .

4. AUDITORS' REMUNERATION
2021 2020
£    £   
Fees payable to the Company's auditors for the audit of the Company's
financial statements

6,720

6,720

CHARING DALE LIMITED (REGISTERED NUMBER: 05124235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 35,000
AMORTISATION
At 1 January 2021
and 31 December 2021 35,000
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

6. TANGIBLE FIXED ASSETS
Freehold Fixtures,
property fittings
and and
improvements equipment Totals
£    £    £   
COST
At 1 January 2021 3,159,007 294,745 3,453,752
Additions - 7,424 7,424
At 31 December 2021 3,159,007 302,169 3,461,176
DEPRECIATION
At 1 January 2021 684,625 221,534 906,159
Charge for year 63,181 20,159 83,340
At 31 December 2021 747,806 241,693 989,499
NET BOOK VALUE
At 31 December 2021 2,411,201 60,476 2,471,677
At 31 December 2020 2,474,382 73,211 2,547,593

Included in the cost of Freehold Property are qualifying Plant and Machinery of £785,496 professionally valued in accordance with the Capital Allowances Act 1999.

CHARING DALE LIMITED (REGISTERED NUMBER: 05124235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 15,865 75,766
Amounts owed by group undertakings 1,091,484 1,041,484
Other debtors 173 701
1,107,522 1,117,951

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 10) 1,980,000 120,000
Trade creditors 15,548 32,695
Taxation and social security 22,516 58,274
Other creditors 141,890 151,166
2,159,954 362,135

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans (see note 10) - 1,980,000

10. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,980,000 120,000

Amounts falling due between one and two years:
Bank loans - 1,980,000

CHARING DALE LIMITED (REGISTERED NUMBER: 05124235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


11. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 1,980,000 2,100,000

The bank loan is secured by way of a fixed charge over its freehold property shown in tangible fixed assets note and a fixed and floating charge over all assets of the company.

The bank loan is repayable over the period until 2022. The rate of interest payable on the debt is 1.9% per annum over the Bank Base Rate.

12. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 108,370 109,887

Deferred
tax
£   
Balance at 1 January 2021 109,887
Provided during year (1,517 )
Balance at 31 December 2021 108,370

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100

14. RESERVES
Retained
earnings
£   

At 1 January 2021 1,458,874
Profit for the year 191,632
Dividends (6,000 )
At 31 December 2021 1,644,506

CHARING DALE LIMITED (REGISTERED NUMBER: 05124235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


15. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Jeffrey Klein (Senior Statutory Auditor)
for and on behalf of Klein Evangelou

16. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

2021 2020
£    £   
Amounts owed by Group Undertakings 1,091,484 1,041,484

Related Party Relationship:

Group Undertakings:
Charing Holdings Limited
Charing Way Limited

17. POST BALANCE SHEET EVENTS

COVID-19 and its effects on the business represent a non-adjusting post balance sheet event.

18. CONTROLLING PARTY

The immediate and ultimate parent undertaking is Charing Holdings Limited. The registered office of Charing
Holdings Limited is 368 Forest Road, London, E17 5JF.