Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302022-05-01falseBuilders and property developers66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02029943 2022-05-01 2023-04-30 02029943 2021-05-01 2022-04-30 02029943 2023-04-30 02029943 2022-04-30 02029943 c:Director1 2022-05-01 2023-04-30 02029943 c:Director2 2022-05-01 2023-04-30 02029943 d:PlantMachinery 2022-05-01 2023-04-30 02029943 d:MotorVehicles 2022-05-01 2023-04-30 02029943 d:MotorVehicles 2023-04-30 02029943 d:MotorVehicles 2022-04-30 02029943 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 02029943 d:FurnitureFittings 2022-05-01 2023-04-30 02029943 d:FurnitureFittings 2023-04-30 02029943 d:FurnitureFittings 2022-04-30 02029943 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 02029943 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 02029943 d:FreeholdInvestmentProperty 2023-04-30 02029943 d:FreeholdInvestmentProperty 2022-04-30 02029943 d:CurrentFinancialInstruments 2023-04-30 02029943 d:CurrentFinancialInstruments 2022-04-30 02029943 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02029943 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 02029943 d:ShareCapital 2023-04-30 02029943 d:ShareCapital 2022-04-30 02029943 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 02029943 d:RetainedEarningsAccumulatedLosses 2023-04-30 02029943 d:RetainedEarningsAccumulatedLosses 2022-04-30 02029943 c:FRS102 2022-05-01 2023-04-30 02029943 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 02029943 c:FullAccounts 2022-05-01 2023-04-30 02029943 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 02029943 d:WithinOneYear 2023-04-30 02029943 d:WithinOneYear 2022-04-30 02029943 d:BetweenOneFiveYears 2023-04-30 02029943 d:BetweenOneFiveYears 2022-04-30 02029943 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 02029943 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 02029943 d:RetirementBenefitObligationsDeferredTax 2023-04-30 02029943 d:RetirementBenefitObligationsDeferredTax 2022-04-30 02029943 d:OtherDeferredTax 2023-04-30 02029943 d:OtherDeferredTax 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 02029943










CHAPMAN BROTHERS (SHEFFIELD) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

 
CHAPMAN BROTHERS (SHEFFIELD) LIMITED
REGISTERED NUMBER: 02029943

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
6,734
8,979

Investment property
 6 
3,292,802
3,292,802

  
3,299,536
3,301,781

Current assets
  

Debtors: amounts falling due within one year
 7 
165,993
112,417

Cash at bank and in hand
  
119,915
247,480

  
285,908
359,897

Creditors: amounts falling due within one year
 8 
(167,005)
(158,151)

Net current assets
  
 
 
118,903
 
 
201,746

Total assets less current liabilities
  
3,418,439
3,503,527

Provisions for liabilities
  

Deferred tax
 9 
(141,324)
(107,885)

Net assets
  
3,277,115
3,395,642


Capital and reserves
  

Called up share capital 
  
2,000
2,000

Profit and loss account
 10 
3,275,115
3,393,642

  
3,277,115
3,395,642


Page 1

 
CHAPMAN BROTHERS (SHEFFIELD) LIMITED
REGISTERED NUMBER: 02029943
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2023.




I Chapman
M Chapman
Director
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CHAPMAN BROTHERS (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Chapman Brothers (Sheffield) Limited is a private limited company guaranteed by shares, incorporated in England and Wales (registered number: 02029943). Its registered office is Unit 30, The Tangent Business Hub, Weighbridge Road, Shirebrook, NG20 8RX. The principal activity of the Company throughout the year continued to be that of builders and property developers. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company’s functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Rental income represents the rents due for the year under operating leases all of which relate to properties in the United Kingdom.

 
2.3

Operating leases: the Company as lessor

Rental income from operating leases is credited to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

 
2.4

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. 

Page 3

 
CHAPMAN BROTHERS (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:

The depreciation rates are:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Page 4

 
CHAPMAN BROTHERS (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties. 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.
The directors have made key assumptions in the determination of fair value of the investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.


4.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 5

 
CHAPMAN BROTHERS (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost 


At 1 May 2022
25,800
3,676
29,476



At 30 April 2023

25,800
3,676
29,476



Depreciation


At 1 May 2022
19,056
1,441
20,497


Charge for the year on owned assets
1,686
559
2,245



At 30 April 2023

20,742
2,000
22,742



Net book value



At 30 April 2023
5,058
1,676
6,734



At 30 April 2022
6,744
2,235
8,979


6.


Investment property


Freehold investment property

£



Valuation


At 1 May 2022
3,292,802



At 30 April 2023
3,292,802

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,618,090
1,618,090

Page 6

 
CHAPMAN BROTHERS (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Debtors

2023
2022
£
£


Other debtors
159,511
107,445

Prepayments and accrued income
6,482
4,972

165,993
112,417



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
24,781
39,058

Other taxation and social security
1,804
1,314

Other creditors
645
-

Accruals and deferred income
139,775
117,779

167,005
158,151


Page 7

 
CHAPMAN BROTHERS (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

9.


Deferred taxation




2023


£






At beginning of year
107,885


Charged to the Statement of Income and Retained Earnings
33,439



At end of year
141,324

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
1,684
1,706

Pension surplus
(70)
-

Deferred Tax on revaluation of investment property
139,710
106,179

141,324
107,885


10.


Reserves

Profit and loss account

Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated that the surplus on revaluation of the property should be held in a revaluation reserve, which, being an unrealised surplus, did not form part of the company's distributable reserves, FRS 102 requires that these surpluses, although still not distributable, be charged through the Profit and Loss Account. Moreover, there is now a requirement that deferred tax should be provided against the amount of the revaluation surplus. 
Consequently, the Profit and Loss Account reserve at 30 April 2023 includes a non-distributable amount of £1,641,181 (2022: £1,674,712).


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £277 (2022: £NIL). Contributions totalling £277 (2022: £NIL) were payable to the fund at the Balance Sheet date and are included in creditors. 

Page 8

 
CHAPMAN BROTHERS (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

12.


Commitments under operating leases

At 30 April 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
4,368
4,368

Later than 1 year and not later than 5 years
2,548
6,916

6,916
11,284

 
Page 9