Registered number
10071762
CHEVAL ESTATES LIMITED
Filleted Accounts
31 March 2023
CHEVAL ESTATES LIMITED
Registered number: 10071762
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,403,855 7,403,855
Current assets
Cash at bank and in hand 27,529 20,825
Creditors: amounts falling due within one year 4 (3,121,978) (7,121,694)
Net current liabilities (3,094,449) (7,100,869)
Total assets less current liabilities 4,309,406 302,986
Creditors: amounts falling due after more than one year 5 (4,000,000) -
Net assets 309,406 302,986
Capital and reserves
Called up share capital 100 100
Profit and loss account 309,306 302,886
Shareholders' funds 309,406 302,986
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.
Mr Omar wafaie
Director
Approved by the board on 14 June 2023
CHEVAL ESTATES LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 7,403,855
At 31 March 2023 7,403,855
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 7,403,855
At 31 March 2022 7,403,855
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 3,995,652
Trade creditors 2,045 2,045
Taxation and social security costs 1,490 7,600
Other creditors 3,118,443 3,116,397
3,121,978 7,121,694
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 4,000,000 -
6 Other information
CHEVAL ESTATES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
37a Curzon Street
London
W1J 7TX
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