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REGISTERED NUMBER: 04042840 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CHC ASSETS LTD

CHC ASSETS LTD (REGISTERED NUMBER: 04042840)

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










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


CHC ASSETS LTD (REGISTERED NUMBER: 04042840)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,135 30,667
Investments 5 1,471,598 1,539,580
Investment property 6 9,412,192 7,906,542
10,927,925 9,476,789

CURRENT ASSETS
Debtors 7 5,923 6,204
Cash at bank 576,021 631,214
581,944 637,418
CREDITORS
Amounts falling due within one year 8 10,614,634 9,189,235
NET CURRENT LIABILITIES (10,032,690 ) (8,551,817 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

895,235

924,972

PROVISIONS FOR LIABILITIES 8,386 5,827
NET ASSETS 886,849 919,145

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 886,749 919,045
SHAREHOLDERS' FUNDS 886,849 919,145

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CHC ASSETS LTD (REGISTERED NUMBER: 04042840)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


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 director and authorised for issue on 6 September 2022 and were signed by:





C Osman - Director


CHC ASSETS LTD (REGISTERED NUMBER: 04042840)

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


1. STATUTORY INFORMATION

CHC Assets Ltd 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: 04042840

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 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
Fixtures and fittings - 25% on reducing balance
Computer equipment - 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.

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, loans to related parties and investments in non-puttable ordinary shares.

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


CHC ASSETS LTD (REGISTERED NUMBER: 04042840)

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


2. ACCOUNTING POLICIES - continued
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.

Going concern
The company continues with the support of it's director and shareholder which will not allow any of it's creditors to suffer as a result of the director's decision to allow the company to continue to trade under the circumstances.

Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

CHC ASSETS LTD (REGISTERED NUMBER: 04042840)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021 30,447 13,358 538 44,343
Additions - 27,981 - 27,981
At 31 December 2021 30,447 41,339 538 72,324
DEPRECIATION
At 1 January 2021 7,612 5,829 235 13,676
Charge for year 5,709 8,728 76 14,513
At 31 December 2021 13,321 14,557 311 28,189
NET BOOK VALUE
At 31 December 2021 17,126 26,782 227 44,135
At 31 December 2020 22,835 7,529 303 30,667

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2021 2020
£    £   
Collectable investments cost
Brought forward 1,539,579 1,776,628
Additions 18,379 2,933
Disposals (86,360 ) (239,981 )
1,471,598 1,539,580

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 7,906,542
Additions 1,505,650
At 31 December 2021 9,412,192
NET BOOK VALUE
At 31 December 2021 9,412,192
At 31 December 2020 7,906,542

The investment properties are shown at cost.

CHC ASSETS LTD (REGISTERED NUMBER: 04042840)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 5,923 6,204

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed to connected undertakings 10,542,994 8,877,994
Taxation and social security - 12,425
Other creditors 71,640 298,816
10,614,634 9,189,235

9. CALLED UP SHARE CAPITAL

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

10. RESERVES
Retained
earnings
£   

At 1 January 2021 919,045
Deficit for the year (32,296 )
At 31 December 2021 886,749

CHC ASSETS LTD (REGISTERED NUMBER: 04042840)

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


11. 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/ (to) Connected Undertakings (10,542,994 ) (8,877,994 )
Amounts owed by/ (to) C Osman, Director (5,000 ) (204,294 )
.

Related Party Relationship:

Connected Undertakings
Charing Care Ltd
Charing Court Investments Ltd
Charing Hill Ltd
Charing Oast Ltd
Charing Vale Ltd

Connected Undertakings
A company having the same or predominantly the same shareholders and or Board of Directors but which neither is a parent, subsidiary, fellow subsidiary nor associated company.

12. ULTIMATE CONTROLLING PARTY

The controlling party is C Osman.