Registered number
01784179
Chelsea & Belgravia Investments Limited
Filleted Accounts
31 March 2023
Chelsea & Belgravia Investments Limited
Registered number: 01784179
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 400,000 400,000
Investments 4 44,288 44,290
444,288 444,290
Current assets
Stocks 95,984 95,984
Debtors 5 4,750 37,673
Cash at bank and in hand 5,017 423
105,751 134,080
Creditors: amounts falling due within one year 6 (2,895) (4,893)
Net current assets 102,856 129,187
Total assets less current liabilities 547,144 573,477
Provisions for liabilities (64,349) (64,349)
Net assets 482,795 509,128
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 382,795 409,128
Shareholder's funds 482,795 509,128
The director is 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 director acknowledges his 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 C Leigh-Pemberton
Director
Approved by the board on 15 November 2023
Chelsea & Belgravia 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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Nil
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investment property
Land and buildings
£
Fair value
At 1 April 2022 400,000
At 31 March 2023 400,000
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 400,000
At 31 March 2022 400,000
The fair value of the investment properties have been arrived at on the basis of valuations carried out by the directors of the company. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties and the directors consider that the carrying amounts of the investment properties approximates to their fair value.
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 April 2022 2 44,288 44,290
Disposals (2) - (2)
At 31 March 2023 - 44,288 44,288
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 4,750 29,500
Other debtors - 8,173
4,750 37,673
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs - 2,779
Other creditors 2,895 2,114
2,895 4,893
7 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr C. Leigh-Pemberton
Current account 649 17,561 (18,202) 8
649 17,561 (18,202) 8
8 Related party transactions
The company director, owns 50% of the ordinary issued share capital of SW12 Ltd at the end of the year the company was owed £4,750 (2022 £29,500). During the year the company charged SW12 Ltd management fees, at arms length of £75,000.
9 Controlling party
Throughout the year the company was under the control of Mr C. Leigh-Pemberton, the director, who owns 100% of the issued share capital.
10 Other information
Chelsea & Belgravia Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Holmer Terrace
Holmer
Hereford
HR4 9RH
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