Chesterton Commercial (Runnymede) Limited
Registered number: 07228024
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,876,103 2,860,000
Current assets
Debtors 4 607,652 613,560
Cash at bank and in hand 9,705 4,803
617,357 618,363
Creditors: amounts falling due within one year 5 (1,205,091) (1,193,925)
Net current liabilities (587,734) (575,562)
Total assets less current liabilities 2,288,369 2,284,438
Creditors: amounts falling due after more than one year 6 (1,970,140) (1,980,788)
Net assets 318,229 303,650
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 699,180 699,180
Profit and loss account (380,952) (395,531)
Shareholders' funds 318,229 303,650
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.
GN Bryant
Director
Approved by the board on 3 November 2023
Chesterton Commercial (Runnymede) Limited
Notes to the Accounts
for the year ended 28 February 2023
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2022 2,860,000
Additions 16,103
At 28 February 2023 2,876,103
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 2,876,103
At 28 February 2022 2,860,000
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 607,652 605,597
Other debtors - 7,963
607,652 613,560
5 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 758,409 752,242
Other creditors 446,682 441,683
1,205,091 1,193,925
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,970,140 1,980,788
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 1,937,000 1,937,000
[Give an indication of the nature and form of the security for the bank loans]
8 Revaluation reserve 2023 2022
£ £
At 1 March 2022 699,180 -
Gain on revaluation of land and buildings - 699,180
At 28 February 2023 699,180 699,180
9 Other information
Chesterton Commercial (Runnymede) Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Chalfont Court
Lower Earley
Reading
RG6 5SY
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