Company registration number 02908641 (England and Wales)
T. & J. CHARNLEIGH DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
T. & J. CHARNLEIGH DEVELOPMENTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
T. & J. CHARNLEIGH DEVELOPMENTS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr T H Plummer
Mrs J L Plummer
Secretary
Mrs J L Plummer
Company number
02908641
Registered office
30-31 St James Place
Mangotsfield
Bristol
South Glos.
England
BS16 9JB
Accountants
TC Group
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
T. & J. CHARNLEIGH DEVELOPMENTS LIMITED
BALANCE SHEET
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
205
273
Investment properties
4
595,000
523,240
595,205
523,513
Current assets
Debtors
132
1,271
Cash at bank and in hand
18,570
14,312
18,702
15,583
Creditors: amounts falling due within one year
5
(435,236)
(447,650)
Net current liabilities
(416,534)
(432,067)
Total assets less current liabilities
178,671
91,446
Provisions for liabilities
(12,941)
(30,350)
Net assets
165,730
61,096
Capital and reserves
Called up share capital
100
100
Revaluation reserve
279,989
208,229
Profit and loss reserves
(114,359)
(147,233)
Total equity
165,730
61,096
T. & J. CHARNLEIGH DEVELOPMENTS LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 October 2023 and are signed on its behalf by:
Mr T H Plummer
Mrs J L Plummer
Director
Director
Company Registration No. 02908641
T. & J. CHARNLEIGH DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information
T. & J. Charnleigh Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30-31 St James Place, Mangotsfield, Bristol, South Glos., England, BS16 9JB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
T. & J. CHARNLEIGH DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
T. & J. CHARNLEIGH DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
3
Tangible fixed assets
Computers
£
Cost
At 1 July 2022 and 30 June 2023
3,658
Depreciation and impairment
At 1 July 2022
3,385
Depreciation charged in the year
68
At 30 June 2023
3,453
Carrying amount
At 30 June 2023
205
At 30 June 2022
273
4
Investment property
2023
£
Fair value
At 1 July 2022
523,240
Revaluations
71,760
At 30 June 2023
595,000
Fair value at 30th June 2023 is represented by:
Valuation in 2018: £162,489
Valuation in 2019: £15,000
Valuation in 2020: £15,500
Valuation in 2021: £15,240
Valuation in 2022: £Nil
Valuation in 2023: £71,760
Cost: £315,011
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
435,236
447,650
T. & J. CHARNLEIGH DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
6
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2023
2022
Balances:
£
£
Revaluations
30,350
30,350
Statutory database figures differ from the trial balance:
Deferred tax balances
12,941
30,350
Difference
17,409
-
Balance per TB
12,941
Warning - Difference exists; check stat db entries
(17,409)
There were no deferred tax movements in the year.
The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.