Registered number
11398321
Chicago Investments Limited
Filleted Accounts
31 March 2023
Chicago Investments Limited
Registered number: 11398321
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 2 32,529 43,311
Investment Properties 3 2,750,000 2,939,090
2,782,529 2,982,401
Current assets
Debtors 4 38,636 22,869
Cash at bank and in hand 2,224 4,684
40,860 27,553
Creditors: amounts falling due within one year 5 (1,041,548) (1,009,743)
Net current liabilities (1,000,688) (982,190)
Total assets less current liabilities 1,781,841 2,000,211
Creditors: amounts falling due after more than one year 6 (1,596,000) (1,729,000)
Net assets 185,841 271,211
Capital and reserves
Called up share capital 100 100
Profit and loss account 185,741 271,111
Shareholder's funds 185,841 271,211
- -
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 member has 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.
Naveen Bhandari Suresh Kumar Aggarwal
Director Director
Approved by the board on 20 October 2023 Approved by the board on 20 October 2023
Chicago Investments Limited
Notes to the Accounts
for the year ended 31 March 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 rendering of services. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Going Concern
At 31 March 2023 the company had net current liabilities of £1,000,688 [2022 - £982,190] which was mainly due to amounts payable to a related company. The directors of the company are confident that all payments and liabilities will be met as and when they arise. The directors are of the opinion that the financial statements should be drawn up on a going concern basis.
2 Intangible fixed assets £
L&P fees and Interest Cap costs:
Cost
At 1 April 2022 64,923
At 31 March 2023 64,923
Amortisation
At 1 April 2022 21,612
Provided during the year 10,782
At 31 March 2023 32,394
Net book value
At 31 March 2023 32,529
At 31 March 2022 43,311
L&P fees on the lease are being written off in equal annual instalments over the lease term.

Arrangement fees of £19,950 that arose in the year 2022 are written off over 5 years.
3 Investments
Other
investments
£
Cost
At 1 April 2022 2,939,090
Revaluation (189,090)
At 31 March 2023 2,750,000
Historical cost
At 1 April 2022 2,939,090
At 31 March 2023 2,939,090
The directors have revalued the freehold property at the Balance Sheet date based on the purchase price, acquisition costs and the enhancement costs to date. An independent professional valuation was not instructed during the year. The property value £2,750,000 at 31 March 2023.
4 Debtors 2023 2022
£ £
Trade debtors 2,709 22,869
Deferred tax asset 35,927 -
38,636 22,869
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 133,000 133,000
Trade creditors 80,651 17,280
Taxation and social security costs 24,009 35,807
Other creditors 803,888 823,656
1,041,548 1,009,743
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,596,000 1,729,000
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 1,729,000 1,862,000
A legal charge over all investment properties. Contains fixed charge, floating charge and negative pledge.
8 Other information
Chicago Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Boundary House
Boston Road
Hanwell
W7 2QE
Chicago Investments Limited 11398321 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Naveen Bhandari No description of principal activity 11398321 2021-04-01 2022-03-31 11398321 core:WithinOneYear 2022-03-31 11398321 core:AfterOneYear 2022-03-31 11398321 core:ShareCapital 2022-03-31 11398321 core:RetainedEarningsAccumulatedLosses 2022-03-31 11398321 2022-04-01 2023-03-31 11398321 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11398321 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11398321 bus:Director40 2022-04-01 2023-03-31 11398321 1 2022-04-01 2023-03-31 11398321 2 2022-04-01 2023-03-31 11398321 core:Goodwill 2022-04-01 2023-03-31 11398321 countries:England 2022-04-01 2023-03-31 11398321 bus:FRS102 2022-04-01 2023-03-31 11398321 bus:FullAccounts 2022-04-01 2023-03-31 11398321 2023-03-31 11398321 core:WithinOneYear 2023-03-31 11398321 core:AfterOneYear 2023-03-31 11398321 core:ShareCapital 2023-03-31 11398321 core:RetainedEarningsAccumulatedLosses 2023-03-31 11398321 core:Goodwill 2023-03-31 11398321 core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 11398321 2022-03-31 11398321 core:Goodwill 2022-03-31 iso4217:GBP xbrli:pure