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REGISTERED NUMBER: 00864490












A W CHINN PROPERTIES (B'HAM) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






A W CHINN PROPERTIES (B'HAM) LTD (REGISTERED NUMBER: 00864490)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A W CHINN PROPERTIES (B'HAM) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr D R Chinn
Mr S W Chinn
Mrs S M Chinn





REGISTERED OFFICE: Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT





REGISTERED NUMBER: 00864490





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

A W CHINN PROPERTIES (B'HAM) LTD (REGISTERED NUMBER: 00864490)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,626 14,135
Investment property 5 2,318,000 2,514,000
2,328,626 2,528,135

CURRENT ASSETS
Cash at bank 22,065 -

CREDITORS
Amounts falling due within one year 6 32,463 39,962
NET CURRENT LIABILITIES (10,398 ) (39,962 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,318,228

2,488,173

CREDITORS
Amounts falling due after more than one
year

7

(488,506

)

(755,527

)

PROVISIONS FOR LIABILITIES (303,000 ) (293,000 )
NET ASSETS 1,526,722 1,439,646

CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 10 1,272,996 1,272,996
Retained earnings 10 253,626 166,550
SHAREHOLDERS' FUNDS 1,526,722 1,439,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

A W CHINN PROPERTIES (B'HAM) LTD (REGISTERED NUMBER: 00864490)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





Mr D R Chinn - Director


A W CHINN PROPERTIES (B'HAM) LTD (REGISTERED NUMBER: 00864490)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

A W Chinn Properties (B'ham) Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% reducing balance

No depreciation has been provided on freehold property. It is company policy to maintain property in such condition that its value is not impaired with the passage of time. Such expenditure is charged to the profit and loss account in the year which it is incurred, and any depreciation would, in the opinion of the directors, be immaterial.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


A W CHINN PROPERTIES (B'HAM) LTD (REGISTERED NUMBER: 00864490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 4,962 18,519 23,481
DEPRECIATION
At 1 April 2022 4,716 4,630 9,346
Charge for year 37 3,472 3,509
At 31 March 2023 4,753 8,102 12,855
NET BOOK VALUE
At 31 March 2023 209 10,417 10,626
At 31 March 2022 246 13,889 14,135

A W CHINN PROPERTIES (B'HAM) LTD (REGISTERED NUMBER: 00864490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 18,519
DEPRECIATION
At 1 April 2022
and 31 March 2023 4,630
NET BOOK VALUE
At 31 March 2023 13,889
At 31 March 2022 13,889

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 2,514,000
Disposals (250,815 )
Revaluations 54,815
At 31 March 2023 2,318,000
NET BOOK VALUE
At 31 March 2023 2,318,000
At 31 March 2022 2,514,000

Cost or valuation at 31 March 2023 is represented by:
£


Valuation in 2023 1,596,853
Cost 721,147
2,318,000

If the properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 721,147 971,962

The properties were valued on an open market value basis on 31 March 2023 by the directors.

A W CHINN PROPERTIES (B'HAM) LTD (REGISTERED NUMBER: 00864490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 3,460 11,454
Hire purchase contracts 3,088 3,089
Trade creditors 9,412 9,488
Amounts owed to participating interests 8,196 10,424
Taxation and social security 3,226 764
Other creditors 5,081 4,743
32,463 39,962

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 480,280 744,213
Hire purchase contracts 8,226 11,314
488,506 755,527

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 480,280 744,213

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 4,534
Bank loans 3,460 6,920
3,460 11,454

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 480,280 744,213

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

A W CHINN PROPERTIES (B'HAM) LTD (REGISTERED NUMBER: 00864490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. RESERVES

Non distributable reserve

This reserve represents unrealised fair value gains on investment properties netted off the deferred tax charged against these fair value gains