Registered number
07669940
Chart Forte Holdings Ltd
Report and Unaudited Accounts
31 October 2022
Chart Forte Holdings Ltd
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Profit and loss account 4
Balance sheet 5
Statement of changes in equity 6
Notes to the accounts 7-10
Chart Forte Holdings Ltd
Company Information
Directors
Mrs M Kajani
J Kajani
Secretary
Mrs M Kajani
Accountants
Ward Divecha Limited
29 Welbeck Street
London
W1G 8DA
Registered office
Cervantes House
5-9 Headstone Road
Harrow on the hill
Middlesex
HA1 1PD
Registered number
07669940
Chart Forte Holdings Ltd
Registered number: 07669940
Directors' Report
The directors present their report and accounts for the year ended 31 October 2022.
Principal activities
The company's principal activity during the year continued to be holding company.
Directors
The following persons served as directors during the year:
Mrs M Kajani
J Kajani
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 25 October 2023 and signed on its behalf.
J Kajani
Director
Chart Forte Holdings Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Chart Forte Holdings Ltd for the year ended 31 October 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chart Forte Holdings Ltd for the year ended 31 October 2022 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Ward Divecha Limited
29 Welbeck Street
London
W1G 8DA
25 October 2023
Chart Forte Holdings Ltd
Profit and loss account
for the year ended 31 October 2022
2022 2021
£ £
Administrative expenses (43,952) (44,838)
Operating loss (43,952) (44,838)
Income from investments 16,750,000 14,947,373
Interest receivable 17,900 24,750
Interest payable (2,174) -
Profit before taxation 16,721,774 14,927,285
Tax on profit - -
Profit for the financial year 16,721,774 14,927,285
Chart Forte Holdings Ltd
Registered number: 07669940
Balance Sheet
as at 31 October 2022
Notes 2022 2021
£ £
Fixed assets
Investments 3 1,157 1,069
Current assets
Debtors 4 32,734,259 21,399,509
Cash at bank and in hand 4,654,812 890,848
37,389,071 22,290,357
Creditors: amounts falling due within one year 5 (1,855,144) (2,378,116)
Net current assets 35,533,927 19,912,241
Net assets 35,535,084 19,913,310
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 35,534,084 19,912,310
Shareholders' funds 35,535,084 19,913,310
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Kajani
Director
Approved by the board on 25 October 2023
Chart Forte Holdings Ltd
Statement of Changes in Equity
for the year ended 31 October 2022
Share Profit Total
capital and loss
account
£ £ £
At 1 November 2020 1,000 6,085,025 6,086,025
Profit for the financial year 14,927,285 14,927,285
Dividends (1,100,000) (1,100,000)
At 31 October 2021 1,000 19,912,310 19,913,310
At 1 November 2021 1,000 19,912,310 19,913,310
Profit for the financial year 16,721,774 16,721,774
Dividends (1,100,000) (1,100,000)
At 31 October 2022 1,000 35,534,084 35,535,084
Chart Forte Holdings Ltd
Notes to the Accounts
for the year ended 31 October 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Cash and cash equivalent
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks with original maturities of six months or more and repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 November 2021 1,069
Adjustment 88
At 31 October 2022 1,157
2022 2021
£ £
Dividends and other distributions from associates included in income 16,750,000 14,947,373
The company holds 20% or more of the share capital of the following companies:
Company Registered in Shares held
Class %
Foxtrend Ltd Enland and Wales Ordinary 100
Grace Group of Hotel Ltd Enland and Wales Ordinary 100
Chart Forte (UK) Ltd Enland and Wales Ordinary 100
JMSZ Management Services Ltd Enland and Wales Ordinary 100
Fox Trend (Putney) Ltd Enland and Wales Ordinary 100
Chart Forte (Belfast) Ltd Enland and Wales Ordinary 100
Chart Forte (West Ealing) Ltd Enland and Wales Ordinary 100
Chart Forte (Hammersmith) Ltd Enland and Wales Ordinary 100
Chart Forte (KHS) Ltd Enland and Wales Ordinary 100
Findlater House Ltd Enland and Wales Ordinary 100
Austinbrook Ltd * Republic of Ireland Ordinary 100
Haydencrest Ltd Republic of Ireland Ordinary 100
Carra Shore Hotel (Waterford) Ltd Republic of Ireland Ordinary 100
Carra Shore Hotel (Dublin) Ltd Republic of Ireland Ordinary 100
Skyline View Ltd ** Republic of Ireland Ordinary 100
Winemount Ltd Republic of Ireland Ordinary 100
Melonmount Ltd *** Republic of Ireland Ordinary 100
Carra Shore Hotel (Camden Place) Ltd Republic of Ireland Ordinary 100
Carra Shore Hotel (Cork) Ltd Republic of Ireland Ordinary 100
* Finlaterhouse Ltd owns 100% shares in Austinbrook Ltd.
** Carra Shore Hotel (Dublin) Ltd owns 100% shares in Skyline View Ltd.
*** Winemount Ltd owns 100% in Melonmount Ltd.
4 Debtors 2022 2021
£ £
Amounts owed by group undertakings 32,478,327 20,292,608
Directors' / Participators' Current account 250,000 1,100,000
Other debtors 5,932 6,901
32,734,259 21,399,509
5 Creditors: amounts falling due within one year 2022 2021
£ £
Amounts owed to group undertakings 1,799,744 2,347,116
Other creditors 55,400 31,000
1,855,144 2,378,116
6 Dividends 2022 2021
£ £
Dividends on ordinary shares 1,100,000 1,100,000
7 Related party transactions
During the year directors received dividend of £880,000 (2021: £880,000).
8 Presentation currency
The financial statements are presented in GBP Sterling.
9 Legal form of entity and country of incorporation
Chart Forte Holdings Limited is a private company limited by shares and incorporated in England.
10 Principal place of business
The address of the company's principal place of business and registered office is:
Cervantes House
5-9 Headstone Road
Harrow on the hill
Middlesex
HA1 1PD
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