Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31true2022-02-01falseNo description of principal activity21falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02057503 2022-02-01 2023-01-31 02057503 2021-02-01 2022-01-31 02057503 2023-01-31 02057503 2022-01-31 02057503 c:Director1 2022-02-01 2023-01-31 02057503 d:OfficeEquipment 2022-02-01 2023-01-31 02057503 d:OfficeEquipment 2023-01-31 02057503 d:OfficeEquipment 2022-01-31 02057503 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 02057503 d:ComputerEquipment 2022-02-01 2023-01-31 02057503 d:ComputerEquipment 2023-01-31 02057503 d:ComputerEquipment 2022-01-31 02057503 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 02057503 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 02057503 d:FreeholdInvestmentProperty 2023-01-31 02057503 d:FreeholdInvestmentProperty 2022-01-31 02057503 d:FreeholdInvestmentProperty 2 2022-02-01 2023-01-31 02057503 d:CurrentFinancialInstruments 2023-01-31 02057503 d:CurrentFinancialInstruments 2022-01-31 02057503 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 02057503 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 02057503 d:ShareCapital 2023-01-31 02057503 d:ShareCapital 2022-01-31 02057503 d:RetainedEarningsAccumulatedLosses 2023-01-31 02057503 d:RetainedEarningsAccumulatedLosses 2022-01-31 02057503 c:FRS102 2022-02-01 2023-01-31 02057503 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 02057503 c:FullAccounts 2022-02-01 2023-01-31 02057503 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 02057503 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 02057503 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 02057503









CHINATOWN PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
CHINATOWN PROPERTIES LIMITED
REGISTERED NUMBER: 02057503

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,856
-

Investment property
  
4,900,000
6,000,000

  
4,901,856
6,000,000

Current assets
  

Debtors: amounts falling due within one year
 6 
26,268
53,144

Cash at bank and in hand
 7 
1,433,820
1,309,041

  
1,460,088
1,362,185

Creditors: amounts falling due within one year
 8 
(48,347)
(32,755)

Net current assets
  
 
 
1,411,741
 
 
1,329,430

Total assets less current liabilities
  
6,313,597
7,329,430

Provisions for liabilities
  

Deferred tax
 9 
(600,000)
(663,000)

  
 
 
(600,000)
 
 
(663,000)

Net assets
  
5,713,597
6,666,430


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
 10 
5,713,497
6,666,330

  
5,713,597
6,666,430


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
 
Page 1

 
CHINATOWN PROPERTIES LIMITED
REGISTERED NUMBER: 02057503
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023


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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




L M Cheung
Director

Date: 16 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CHINATOWN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Chinatown Properties Limited is a private company, limited by shares, registered in England and Wales. The address of the company's registered office is Ground Floor, 45 Pall Mall, London, SW1Y 5JG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
CHINATOWN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 1).

Page 4

 
CHINATOWN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
1,434
886
2,320



At 31 January 2023

1,434
886
2,320



Depreciation


Charge for the year on owned assets
287
177
464



At 31 January 2023

287
177
464



Net book value



At 31 January 2023
1,147
709
1,856



At 31 January 2022
-
-
-




Page 5

 
CHINATOWN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 February 2022
6,000,000


Surplus on revaluation
(1,100,000)



At 31 January 2023
4,900,000

The 2023 valuations were made by a Chartered Surveyor, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
870,321
870,321

870,321
870,321


6.


Debtors: Amounts falling due within one year

2023
2022
£
£


Trade debtors
-
33,730

Other debtors
5,638
3,850

Prepayments and accrued income
20,630
15,564

26,268
53,144



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,433,820
1,309,041

1,433,820
1,309,041


Page 6

 
CHINATOWN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
325
1,283

Corporation tax
19,533
17,882

Other creditors
2,607
2,675

Accruals and deferred income
25,882
10,915

48,347
32,755



9.


Deferred taxation




2023


£






At beginning of year
(663,000)


Charged to profit or loss
63,000



At end of year
(600,000)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment property
(600,000)
(663,000)

(600,000)
(663,000)

Page 7

 
CHINATOWN PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

10.


Profit and loss reserves

A prior period adjustment has been made in respect of the revaluation reserve.
The adjustment is in accordance with FRS 102 whereby the profit and loss reserve account includes the unrealised revaluation surplus or deficit as well as realised profits or losses.
The profit and loss reserve account is made up as follows:
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Page 8