Silverfin false 31/12/2022 01/01/2022 31/12/2022 Mr J C Clyne 01/10/2014 Mr P A Heather 16/07/2013 29 September 2023 The principal activity of the company is that of commercial property agents. 08610718 2022-12-31 08610718 bus:Director1 2022-12-31 08610718 bus:Director2 2022-12-31 08610718 2021-12-31 08610718 core:CurrentFinancialInstruments 2022-12-31 08610718 core:CurrentFinancialInstruments 2021-12-31 08610718 core:Non-currentFinancialInstruments 2022-12-31 08610718 core:Non-currentFinancialInstruments 2021-12-31 08610718 core:ShareCapital 2022-12-31 08610718 core:ShareCapital 2021-12-31 08610718 core:RetainedEarningsAccumulatedLosses 2022-12-31 08610718 core:RetainedEarningsAccumulatedLosses 2021-12-31 08610718 core:LandBuildings 2021-12-31 08610718 core:Vehicles 2021-12-31 08610718 core:OfficeEquipment 2021-12-31 08610718 core:ComputerEquipment 2021-12-31 08610718 core:LandBuildings 2022-12-31 08610718 core:Vehicles 2022-12-31 08610718 core:OfficeEquipment 2022-12-31 08610718 core:ComputerEquipment 2022-12-31 08610718 core:CostValuation 2021-12-31 08610718 core:CostValuation 2022-12-31 08610718 core:ProvisionsForImpairmentInvestments 2021-12-31 08610718 core:ImpairmentLossProvisionsForImpairmentInvestments 2022-12-31 08610718 core:ProvisionsForImpairmentInvestments 2022-12-31 08610718 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-12-31 08610718 core:RemainingRelatedParties core:CurrentFinancialInstruments 2021-12-31 08610718 bus:OrdinaryShareClass1 2022-12-31 08610718 2022-01-01 2022-12-31 08610718 bus:FullAccounts 2022-01-01 2022-12-31 08610718 bus:SmallEntities 2022-01-01 2022-12-31 08610718 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 08610718 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08610718 bus:Director1 2022-01-01 2022-12-31 08610718 bus:Director2 2022-01-01 2022-12-31 08610718 core:Vehicles 2022-01-01 2022-12-31 08610718 core:OfficeEquipment 2022-01-01 2022-12-31 08610718 core:ComputerEquipment core:TopRangeValue 2022-01-01 2022-12-31 08610718 2021-01-01 2021-12-31 08610718 core:LandBuildings 2022-01-01 2022-12-31 08610718 core:ComputerEquipment 2022-01-01 2022-12-31 08610718 core:CurrentFinancialInstruments 2022-01-01 2022-12-31 08610718 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 08610718 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08610718 (England and Wales)

CHARLES DARROW LTD

Unaudited Financial Statements
For the financial year ended 31 December 2022
Pages for filing with the registrar

CHARLES DARROW LTD

Unaudited Financial Statements

For the financial year ended 31 December 2022

Contents

CHARLES DARROW LTD

COMPANY INFORMATION

For the financial year ended 31 December 2022
CHARLES DARROW LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2022
DIRECTORS Mr J C Clyne
Mr P A Heather
REGISTERED OFFICE 12 St. Pauls Road
Newton Abbot
TQ12 2HP
United Kingdom
COMPANY NUMBER 08610718 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon TQ2 7FF
CHARLES DARROW LTD

BALANCE SHEET

As at 31 December 2022
CHARLES DARROW LTD

BALANCE SHEET (continued)

As at 31 December 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 46,185 303,814
Investments 4 0 80
46,185 303,894
Current assets
Debtors 5 229,254 72,709
Cash at bank and in hand 78,439 159,847
307,693 232,556
Creditors: amounts falling due within one year 6 ( 148,374) ( 106,190)
Net current assets 159,319 126,366
Total assets less current liabilities 205,504 430,260
Creditors: amounts falling due after more than one year 7 ( 39,413) ( 189,594)
Provision for liabilities ( 11,546) ( 12,675)
Net assets 154,545 227,991
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 154,543 227,989
Total shareholder's funds 154,545 227,991

For the financial year ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Charles Darrow Ltd (registered number: 08610718) were approved and authorised for issue by the Board of Directors on 29 September 2023. They were signed on its behalf by:

Mr P A Heather
Director
Mr J C Clyne
Director
CHARLES DARROW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
CHARLES DARROW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Charles Darrow Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 12 St. Pauls Road, Newton Abbot, TQ12 2HP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Vehicles 20 % reducing balance
Office equipment 20 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Financial instruments

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

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Land and buildings Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 January 2022 253,114 69,714 12,473 11,564 346,865
Additions 0 3,615 4,465 250 8,330
Disposals ( 253,114) 0 0 0 ( 253,114)
At 31 December 2022 0 73,329 16,938 11,814 102,081
Accumulated depreciation
At 01 January 2022 0 26,943 5,813 10,295 43,051
Charge for the financial year 0 9,278 2,225 1,342 12,845
At 31 December 2022 0 36,221 8,038 11,637 55,896
Net book value
At 31 December 2022 0 37,108 8,900 177 46,185
At 31 December 2021 253,114 42,771 6,660 1,269 303,814

Included within the net book value of land and buildings above is £nil (2021 - £ 253,114) in respect of freehold land and buildings.

4. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 January 2022 80 80
At 31 December 2022 80 80
Provisions for impairment
At 01 January 2022 0 0
Impairment 80 80
At 31 December 2022 80 80
Carrying value at 31 December 2022 0 0
Carrying value at 31 December 2021 80 80

5. Debtors

2022 2021
£ £
Trade debtors 49,095 17,863
Amounts owed by related parties 0 53,218
Other debtors 180,159 1,628
229,254 72,709

6. Creditors: amounts falling due within one year

2022 2021
£ £
Bank loans 10,000 17,500
Amounts owed to directors 50,243 6,413
Accruals 2,750 2,425
Taxation and social security 74,931 69,565
Obligations under finance leases and hire purchase contracts 10,023 9,736
Other creditors 427 551
148,374 106,190

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

7. Creditors: amounts falling due after more than one year

2022 2021
£ £
Bank loans 25,833 165,990
Obligations under finance leases and hire purchase contracts (secured) 13,580 23,604
39,413 189,594

8. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Government Grants

The amount of grants recognised in the financial statements was £nil (2021 - £13,391).

10. Ultimate controlling party

Parent Company:

Charles Darrow Holdings Limited
12 St. Pauls Road
Newton Abbot
Devon
TQ12 2HP