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Chyverton Estate Company Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2023

Registration number: 00403953

 

Chyverton Estate Company Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Chyverton Estate Company Limited

Balance Sheet

31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

460,536

406,806

Current assets

 

Stocks

5

9,459

8,826

Debtors

6

2,842

6,724

Cash at bank and in hand

 

7,584

32,190

 

19,885

47,740

Creditors: Amounts falling due within one year

7

(46,717)

(13,851)

Net current (liabilities)/assets

 

(26,832)

33,889

Total assets less current liabilities

 

433,704

440,695

Creditors: Amounts falling due after more than one year

7

(20,427)

(21,086)

Net assets

 

413,277

419,609

Capital and reserves

 

Called up share capital

8

16,634

16,634

Capital redemption reserve

15,366

15,366

Profit and loss account

381,277

387,609

Shareholders' funds

 

413,277

419,609

 

Chyverton Estate Company Limited

Balance Sheet

31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
 

.........................................
Mr N E T Holman
Director

Company Registration Number: 00403953

 

Chyverton Estate Company Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Chyverton House
Zelah
Truro
Cornwall
TR4 9HD

These financial statements were authorised for issue by the Board on 31 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Chyverton Estate Company Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

10% on written down value

Stocks

Stock is valued at the lower of cost and net realisable value.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Chyverton Estate Company Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

313,228

303,451

616,679

Additions

43,626

24,250

67,876

Disposals

(1,000)

(2,020)

(3,020)

At 31 March 2023

355,854

325,681

681,535

Depreciation

At 1 April 2022

-

209,873

209,873

Charge for the year

-

13,146

13,146

Eliminated on disposal

-

(2,020)

(2,020)

At 31 March 2023

-

220,999

220,999

Carrying amount

At 31 March 2023

355,854

104,682

460,536

At 31 March 2022

313,228

93,578

406,806

Included within the net book value of land and buildings above is £355,854 (2022 - £313,228) in respect of freehold land and buildings.

5

Stocks

2023
£

2022
£

Other inventories

9,459

8,826

6

Debtors

2023
£

2022
£

Trade debtors

450

5,417

Other debtors

2,392

1,307

2,842

6,724

 

Chyverton Estate Company Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,409

1,693

Taxation and social security

889

994

Other creditors

40,689

8,634

Accruals and deferred income

2,730

2,530

46,717

13,851

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Deferred income

20,427

21,086

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

16,634

16,634

16,634

16,634