IRIS Accounts Production v23.1.0.753 03070168 Board of Directors Board of Directors 1.7.22 30.6.23 30.6.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure030701682022-06-30030701682023-06-30030701682022-07-012023-06-30030701682021-06-30030701682021-07-012022-06-30030701682022-06-3003070168ns16:EnglandWales2022-07-012023-06-3003070168ns15:PoundSterling2022-07-012023-06-3003070168ns11:Director12022-07-012023-06-3003070168ns11:Director22022-07-012023-06-3003070168ns11:PrivateLimitedCompanyLtd2022-07-012023-06-3003070168ns11:SmallEntities2022-07-012023-06-3003070168ns11:AuditExempt-NoAccountantsReport2022-07-012023-06-3003070168ns11:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3003070168ns11:SmallCompaniesRegimeForAccounts2022-07-012023-06-3003070168ns11:AbridgedAccounts2022-07-012023-06-3003070168ns11:CompanySecretary12022-07-012023-06-3003070168ns11:RegisteredOffice2022-07-012023-06-3003070168ns6:CurrentFinancialInstruments2023-06-3003070168ns6:CurrentFinancialInstruments2022-06-3003070168ns6:ShareCapital2023-06-3003070168ns6:ShareCapital2022-06-3003070168ns6:FurtherSpecificReserve3ComponentTotalEquity2023-06-3003070168ns6:FurtherSpecificReserve3ComponentTotalEquity2022-06-3003070168ns6:RetainedEarningsAccumulatedLosses2023-06-3003070168ns6:RetainedEarningsAccumulatedLosses2022-06-3003070168ns6:DeferredTaxation2022-06-3003070168ns6:DeferredTaxation2023-06-3003070168ns6:FurtherSpecificReserve3ComponentTotalEquity2022-06-30
REGISTERED NUMBER: 03070168 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 30 June 2023

for

Chisletts (Highbridge) Limited

Chisletts (Highbridge) Limited (Registered number: 03070168)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Chisletts (Highbridge) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs S Chislett
S H Chislett





SECRETARY: Mrs S Chislett





REGISTERED OFFICE: 4 Wilsons Close
Nether Stowey
Bridgwater
Somerset
TA5 1LS





REGISTERED NUMBER: 03070168 (England and Wales)






Chisletts (Highbridge) Limited (Registered number: 03070168)

Abridged Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 715,626 715,626

CURRENT ASSETS
Debtors 2,193 2,542
Cash at bank 36,293 38,959
38,486 41,501
CREDITORS
Amounts falling due within one year 17,385 31,389
NET CURRENT ASSETS 21,101 10,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

736,727

725,738

PROVISIONS FOR LIABILITIES 5 97,680 97,680
NET ASSETS 639,047 628,058

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 416,425 416,425
Retained earnings 222,522 211,533
SHAREHOLDERS' FUNDS 639,047 628,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 November 2023 and were signed on its behalf by:



S H Chislett - Director



Mrs S Chislett - Director


Chisletts (Highbridge) Limited (Registered number: 03070168)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Chisletts (Highbridge) Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover represents letting income from commercial and residential properties.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 715,626
NET BOOK VALUE
At 30 June 2023 715,626
At 30 June 2022 715,626

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2017 464,104
Valuation in 2019 50,000
Cost 201,522
715,626

Chisletts (Highbridge) Limited (Registered number: 03070168)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 201,522 201,522

Investment property was valued on a fair value basis on 30 June 2023 by the directors .

5. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 97,680 97,680

Deferred
tax
£   
Balance at 1 July 2022 97,680
Balance at 30 June 2023 97,680

In accordance with Financial Reporting Standard 102 1A deferred taxation has been provided on the revaluation of investment properties amounting to £97,680 (2022 £97,680).

6. RESERVES
Fair
value
reserve
£   
At 1 July 2022
and 30 June 2023 416,425

The fair value reserve above represents undistributable reserves in respect of investment property revaluations.