Company registration number 10111865 (England and Wales)
20 CHAPEL STREET MANAGEMENT CO LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
20 CHAPEL STREET MANAGEMENT CO LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
20 CHAPEL STREET MANAGEMENT CO LTD
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Freehold interest
1
1
Current assets
Debtors
4
1,447
1,406
Cash at bank and in hand
264
437
1,711
1,843
Creditors: amounts falling due within one year
5
(2,728)
(2,472)
Net current liabilities
(1,017)
(629)
Total assets less current liabilities
(1,016)
(628)
Capital and reserves
Called up share capital
4
4
Other reserves
6
(1,020)
(632)
Total equity
(1,016)
(628)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 6 September 2022
B B Pooley
Director
Company Registration No. 10111865
20 CHAPEL STREET MANAGEMENT CO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information

20 Chapel Street Management Co Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Top Spinney, Keeble Park, Perranwell Station, Truro, Cornwall, United Kingdom, TR3 7NL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

1.2
Going concern

These financial statements have been prepared on a going concern basis, notwithstanding that the company had net current liabilities and net liabilities of £1,017 and £1,016 respectively at 31 March 2022 (2021: £629 and £628), as the director undertakes to continue to provide financial and other support as necessary to the company for a period of no less than 12 months from the date of signing these financial statements to enable the company to continue to trade and to meet its debts as and when they fall due. This includes undertaking not to seek repayment of the related party payable balance of £2,216 (2021: £1,840) until the company has sufficient available funds to make these repayments.

1.3
Turnover

Turnover represents income receivable from maintenance charges and is recognised on a straight line basis over the maintenance period to which they relate.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

20 CHAPEL STREET MANAGEMENT CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
-
0
-
0
3
Taxation

Analysis of tax charge

No liability to UK corporation tax arose for the year ended 31 March 2022 nor for the year ended 31 March 2021.

4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
1,447
1,406
5
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
2,728
2,472
6
Reserves
20 CHAPEL STREET MANAGEMENT CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
6
Reserves
(Continued)
- 4 -

Maintenance fees receivable by the company are taken as capital receipts and transfers will be made to and from the capital maintenance reserve each year to cover the year's actual expenses.

7
Related party transactions

The director of the company has introduced funds from a bank account throughout the year. At the Balance Sheet date the amount due to the director was £2,216 (2021: £1,840).

 

 

8
Controlling party

BB and NL Pooley are the controlling party by virtue of their majority shareholding.

2022-03-312021-04-01false06 September 2022CCH SoftwareCCH Accounts Production 2022.100No description of principal activityB B PooleyJ L Hollyoake101118652021-04-012022-03-31101118652022-03-31101118652021-03-3110111865core:CurrentFinancialInstruments2022-03-3110111865core:CurrentFinancialInstruments2021-03-3110111865core:ShareCapital2022-03-3110111865core:ShareCapital2021-03-3110111865core:OtherMiscellaneousReserve2022-03-3110111865core:OtherMiscellaneousReserve2021-03-3110111865bus:Director12021-04-012022-03-31101118652020-04-012021-03-3110111865core:WithinOneYear2022-03-3110111865core:WithinOneYear2021-03-3110111865bus:PrivateLimitedCompanyLtd2021-04-012022-03-3110111865bus:SmallCompaniesRegimeForAccounts2021-04-012022-03-3110111865bus:FRS1022021-04-012022-03-3110111865bus:AuditExemptWithAccountantsReport2021-04-012022-03-3110111865bus:CompanySecretary12021-04-012022-03-3110111865bus:FullAccounts2021-04-012022-03-31xbrli:purexbrli:sharesiso4217:GBP