Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-302021-07-01falseNo description of principal activity87falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03585886 2021-07-01 2022-06-30 03585886 2020-07-01 2021-06-30 03585886 2022-06-30 03585886 2021-06-30 03585886 c:Director1 2021-07-01 2022-06-30 03585886 c:Director2 2021-07-01 2022-06-30 03585886 c:Director3 2021-07-01 2022-06-30 03585886 d:Buildings 2021-07-01 2022-06-30 03585886 d:Buildings 2022-06-30 03585886 d:Buildings 2021-06-30 03585886 d:Buildings d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 03585886 d:LandBuildings 2022-06-30 03585886 d:LandBuildings 2021-06-30 03585886 d:FurnitureFittings 2021-07-01 2022-06-30 03585886 d:FurnitureFittings 2022-06-30 03585886 d:FurnitureFittings 2021-06-30 03585886 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 03585886 d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 03585886 d:CurrentFinancialInstruments 2022-06-30 03585886 d:CurrentFinancialInstruments 2021-06-30 03585886 d:Non-currentFinancialInstruments 2022-06-30 03585886 d:Non-currentFinancialInstruments 2021-06-30 03585886 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 03585886 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 03585886 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 03585886 d:Non-currentFinancialInstruments d:AfterOneYear 2021-06-30 03585886 d:ShareCapital 2022-06-30 03585886 d:ShareCapital 2021-06-30 03585886 d:RevaluationReserve 2022-06-30 03585886 d:RevaluationReserve 2021-06-30 03585886 d:RetainedEarningsAccumulatedLosses 2022-06-30 03585886 d:RetainedEarningsAccumulatedLosses 2021-06-30 03585886 c:FRS102 2021-07-01 2022-06-30 03585886 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 03585886 c:FullAccounts 2021-07-01 2022-06-30 03585886 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 03585886 5 2021-07-01 2022-06-30 03585886 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 03585886 d:AcceleratedTaxDepreciationDeferredTax 2021-06-30 03585886 d:TaxLossesCarry-forwardsDeferredTax 2022-06-30 03585886 d:TaxLossesCarry-forwardsDeferredTax 2021-06-30 iso4217:GBP xbrli:pure

Registered number: 03585886









CHASELODGE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2022

 
CHASELODGE LIMITED
REGISTERED NUMBER: 03585886

BALANCE SHEET
AS AT 30 JUNE 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,580,617
5,532,697

  
5,580,617
5,532,697

Current assets
  

Debtors: amounts falling due within one year
 5 
1,936,745
1,937,647

  
1,936,745
1,937,647

Creditors: amounts falling due within one year
 6 
(774,360)
(253,563)

Net current assets
  
 
 
1,162,385
 
 
1,684,084

Total assets less current liabilities
  
6,743,002
7,216,781

Creditors: amounts falling due after more than one year
 7 
-
(392,713)

Provisions for liabilities
  

Deferred tax
 8 
(391,962)
(318,936)

  
 
 
(391,962)
 
 
(318,936)

Net assets
  
6,351,040
6,505,132


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
2,493,292
2,577,766

Profit and loss account
  
3,857,746
3,927,364

  
6,351,040
6,505,132


Page 1

 
CHASELODGE LIMITED
REGISTERED NUMBER: 03585886
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2022

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 by: 




A Lawee
J Lawee
Director
Director



M N Lawee
Director





Date: 24 November 2023

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

Page 2

 
CHASELODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

1.


General information

Chaselodge Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 9 Russell Road, London, W14 8JA.
The company's principal activity is that of the running of hotels.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
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 profit or loss 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

 
CHASELODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
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 profit or loss.

Page 4

 
CHASELODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2021 - 7).

Page 5

 
CHASELODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

4.


Freehold properties





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 July 2021
5,586,050
408,117
5,994,167


Additions
-
130,702
130,702



At 30 June 2022

5,586,050
538,819
6,124,869



Depreciation


At 1 July 2021
152,268
309,202
461,470


Charge for the year on owned assets
25,378
57,404
82,782



At 30 June 2022

177,646
366,606
544,252



Net book value



At 30 June 2022
5,408,404
172,213
5,580,617



At 30 June 2021
5,433,782
98,915
5,532,697




The net book value of land and buildings may be further analysed as follows:


2022
2021
£
£

Freehold
5,408,404
5,433,782

5,408,404
5,433,782


The 2022 valuations were made by the directors, informed by professional guidance, on an open market value for existing use basis. If the freehold properties had been accounted for under the historical cost accounting rules, the property would have been measured as follows:
                                                                                                           2022        2021
                                                                                                             
   £                   £
   
Historical cost                                                                          
    2,700,796     2,700,796 

Page 6

 
CHASELODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022


5.


Debtors

2022
2021
£
£


Trade debtors
82,314
102

Amounts owed by group undertakings
6,370
390,151

Amounts owed by connected companies
1,506,902
1,506,901

Other debtors
188,579
-

Prepayments and accrued income
152,580
40,493

1,936,745
1,937,647



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
-
138,605

Trade creditors
365,569
56,494

Amounts owed to group undertakings
394,541
2

Corporation tax
-
42,053

Other taxation and social security
-
6,909

Accruals and deferred income
14,250
9,500

774,360
253,563



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
-
392,713

-
392,713


Page 7

 
CHASELODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

8.


Deferred taxation




2022


£






At beginning of year
(318,936)


Charged to profit or loss
11,447


On revaluation of freehold properties
(84,473)



At end of year
(391,962)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
-
(11,447)

Deferred tax on revaluation of freehold properties
(391,962)
(307,489)

(391,962)
(318,936)

The increase in the deferred tax provision arises as a consequence of the increase in the rate of coproration tax from 19% to 25%.


9.


Revaluation reserve

 ole6d63.png


10.


Prior year adjustment

A prior period adjustment has been made in respect of the revaluation reserve.
The adjustment has caused a reduction in the retained earnings brought forward of £2,577,766 and this has been reflected in the Statement of Income and Retained Earnings.

Page 8

 
CHASELODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

11.


Controlling party

The ultimate holding company is Cheniston Limited, a company incorporated in the United Kingdom.

 
Page 9