Company registration number 02014754 (England and Wales)
C H INVESTMENT COMPANY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
C H INVESTMENT COMPANY LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
C H INVESTMENT COMPANY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -
The directors present their annual report and financial statements for the year ended 31 March 2023.
Principal activities
The principal activity of the company continued to be that of a residents property management company managing the property known as Cavendish House, Kings Road, Brighton, East Sussex, BN1 2JH.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
R Llewellyn-Powell
R L Davis
A Shaker
(Appointed 12 April 2023)
R M Hames
(Appointed 12 April 2023)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
R L Davis
Director
28 September 2023
C H INVESTMENT COMPANY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
50,472
50,472
Current assets
Debtors
5
10,528
1,778
Cash at bank and in hand
7,366
21,074
17,894
22,852
Creditors: amounts falling due within one year
6
(3,628)
(2,072)
Net current assets
14,266
20,780
Net assets
64,738
71,252
Capital and reserves
Called up share capital
7
730
730
Share premium account
45,312
45,312
Other reserves
8
19,148
19,148
Profit and loss reserves
(452)
6,062
Total equity
64,738
71,252
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 31 March 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 28 September 2023 and are signed on its behalf by:
R L Davis
Director
Company registration number 02014754 (England and Wales)
C H INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
C H Investment Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Europa House, Goldstone Villas, Hove, East Sussex, BN3 3RQ. The company's principal place of business is given in the company information on the second page of these accounts.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 represents flat rental income, parking space rental income receivable by the company.
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. Included at cost in tangible fixed assets is the freehold interest of Cavendish House, Kings Road, Brighton, East Sussex, BN1 2JH which is not depreciated or revalued.
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:
Freehold Improvements
5 years straight line
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
C H INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
None of the directors are employed by the company.
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 and 31 March 2023
92,256
Depreciation and impairment
At 1 April 2022 and 31 March 2023
41,784
Carrying amount
At 31 March 2023
50,472
At 31 March 2022
50,472
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
810
Prepayments and accrued income
6,412
7,222
-
Deferred tax asset (note )
3,306
1,778
10,528
1,778
C H INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
589
Accruals and deferred income
3,628
1,483
3,628
2,072
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
73,000 Ordinary shares of 1p each
730
730
8
Other reserves
The other reserve represent the original non repayable loans to the company to enable it to purchase the freehold interest in Cavendish House.
9
Related party transactions
The directors and shareholders of the company are also residential lessees of Cavendish House, Kings Road, Brighton.