REGISTERED NUMBER: 03664031 (England and Wales)

Financial Statements

for the Year Ended 31 March 2023

for

CHASE EVANS RESIDENTIAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G J McLuckie

I S Irons

A M Holden

SECRETARY:

I S Irons

REGISTERED OFFICE:

10 & 12 Walworth Road

Elephant & Castle

London

SE1 6EE

REGISTERED NUMBER:

03664031 (England and Wales)

ACCOUNTANTS:

Maths Partnership

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,187,948

1,245,683

Investments

6

802

776

1,188,750

1,246,459

CURRENT ASSETS

Debtors

7

658,388

158,717

Cash at bank and in hand

1,967,567

3,399,675

2,625,955

3,558,392

CREDITORS

Amounts falling due within one year

8

1,657,195

2,870,924

NET CURRENT ASSETS

968,760

687,468

TOTAL ASSETS LESS CURRENT LIABILITIES

2,157,510

1,933,927

PROVISIONS FOR LIABILITIES

83,521

89,405

NET ASSETS

2,073,989

1,844,522

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

2,073,889

1,844,422

SHAREHOLDERS' FUNDS

2,073,989

1,844,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2023 and were signed on its behalf by:

G J McLuckie - Director

1.	STATUTORY INFORMATION

Chase Evans Residential 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

2% on cost

Plant and machinery

-

10% on reducing balance

Fixtures, fittings & equipment

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 138 (2022 - 148 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2022

and 31 March 2023

4,275

AMORTISATION

At 1 April 2022

and 31 March 2023

4,275

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures,

to

Plant and

fittings

Motor

property

machinery

& equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2022

828,538

37,444

1,371,022

109,689

2,346,693

Additions

-

-

23,778

-

23,778

At 31 March 2023

828,538

37,444

1,394,800

109,689

2,370,471

DEPRECIATION

At 1 April 2022

182,127

34,104

816,107

68,672

1,101,010

Charge for year

16,571

351

54,337

10,254

81,513

At 31 March 2023

198,698

34,455

870,444

78,926

1,182,523

NET BOOK VALUE

At 31 March 2023

629,840

2,989

524,356

30,763

1,187,948

At 31 March 2022

646,411

3,340

554,915

41,017

1,245,683

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2022

776

Additions

26

At 31 March 2023

802

NET BOOK VALUE

At 31 March 2023

802

At 31 March 2022

776

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Chase Evans(Singapore)PTE.LTD

Registered office: 60 Paya Lebar Road, £12-55, Paya Lebar Square, Singapore 409051

Nature of business: Managed property advisory services.

%

Class of shares:

holding

Ordinary Share

100.00

31.3.23

31.3.22

£

£

Aggregate capital and reserves

265,338

229,251

Profit for the year

18,701

20,806

Chase Evans(Hong Kong)LTD

Registered office: Level 10 Central Building, 1-3 Pedder Street Central, Hong Kong

Nature of business: Managed property advisory services.

%

Class of shares:

holding

Ordinary Share

100.00

31.3.23

31.3.22

£

£

Aggregate capital and reserves

278,082

239,102

Profit for the year

20,792

69,191

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

22,701

37,854

Amounts owed by group undertakings

483,689

-

Other debtors

151,998

120,863

658,388

158,717

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

145,535

89,965

Amounts owed to group undertakings

-

1,178,791

Taxation and social security

1,010,838

896,121

Other creditors

500,822

706,047

1,657,195

2,870,924

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

The company was owed £nil (£nil - March 2022) and £nil (£nil - March 2022) respectively by it subsidiaries Chase Evans (Singapore) PTE Limited and Chase Evans (Hong Kong) Limited at the year end. Chase Evans Residential Limited supports the offices in Singapore and Hong Kong to allow local based clients access to services in their time zone for properties managed by Chase Evans Residential Limited. The Singapore and Hong Kong income and costs are reflected in the financial statements of Chase Evans Residential Limited.

At the year end, the company owed £483,689 (£1,178,791 - 2022) by it's parent Chase Evans Holdings Limited. No interest is payable or receivable on these loans.