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REGISTERED NUMBER: 08121983 (England and Wales)



















Financial Statements

for the Year Ended 31 December 2022

for

Chevin Asset Management Limited

Chevin Asset Management Limited (Registered number: 08121983)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Chevin Asset Management Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: J D Cokayne
J D Fearnehough





SECRETARY: J D Cokayne





REGISTERED OFFICE: 44 Friar Gate
Derby
DE1 1DA





REGISTERED NUMBER: 08121983 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Chevin Asset Management Limited (Registered number: 08121983)

Balance Sheet
31 December 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Stocks 2,364,514 1,643,055
Debtors 4 735,820 12,894
Cash at bank and in hand 13,796 17,213
3,114,130 1,673,162
CREDITORS
Amounts falling due within one year 5 3,466,764 2,144,526
NET CURRENT LIABILITIES (352,634 ) (471,364 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(352,634

)

(471,364

)

CREDITORS
Amounts falling due after more than one
year

6

28,271

35,650
NET LIABILITIES (380,905 ) (507,014 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (380,907 ) (507,016 )
SHAREHOLDERS' FUNDS (380,905 ) (507,014 )

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





J D Fearnehough - Director


Chevin Asset Management Limited (Registered number: 08121983)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Chevin Asset Management 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.

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 represents the amounts derived from properties sold during the year. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the agreed upon payment.

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost represents the purchase price in addition to any legal fees and refurbishment costs. Net realisable value is based on the estimated selling price less further costs expected to be incurred in completion and disposal.

At each reporting date, stock and work in progress is assessed for expected losses. If a loss is expected then the loss is recognised in full immediately in the Profit and Loss Account..

Going concern
The accounts have been prepared on the going concern basis. The directors have confirmed the continued financial support from the group companies, as well as the related undertakings and that no repayments on inter-company loans will be made until the company has adequate funds.

Related parties
The company is a wholly owned subsidiary of Chevin Group Holdings Limited. The company has taken advantage of the exemption contained within the Financial Reporting Standard and has therefore not disclosed transactions with entities which form part of the group, other than as normally disclosed in the notes to the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Other debtors 735,820 8,894

Amounts falling due after more than one year:
Deferred tax - 4,000

Aggregate amounts 735,820 12,894

Chevin Asset Management Limited (Registered number: 08121983)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. DEBTORS - continued

Deferred tax asset20222021
££

Trading losses-4,000
-4,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 9,808 11,996
Other loans 2,654,000 1,174,977
Trade creditors 4,518 4,043
Amounts owed to group undertakings 629,618 82,000
Tax 25,581 8,873
Social security and other taxes 3,000 3,000
Other creditors 1,794 1,198
Owed to related parties 70,000 830,000
Accrued expenses 68,445 28,439
3,466,764 2,144,526

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years 10,056 9,870
Bank loans - 2-5 years 18,215 25,780
28,271 35,650

7. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Other loans 2,654,000 1,174,977

Bank loans are personally indemnified by the directors.

Other loans are secured against the trading stock of the company.

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

The Report of the Auditors was unqualified.

Wayne Thomas (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd

Chevin Asset Management Limited (Registered number: 08121983)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

9. RELATED PARTY DISCLOSURES

During the year, the entity had loans outstanding with other related companies owned by the directors. At the year end, £70,000 (2021: £830,000) was owed by the company. Interest was charged at 10% on the prior year balances carried forward amounting to £18,006. Nil interest was charged on the balances withdrawn in the year.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Chevin Group Holdings Limited, a company incorporated in England and Wales, which shares the registered office as detailed on page 1. Copies of the consolidated financial statements are available from Companies House.