Company registration number 12320678 (England and Wales)
CORSHAM HOUSE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
CORSHAM HOUSE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CORSHAM HOUSE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
136,010
22,188
Current assets
Debtors
4
1,873
1,137
Cash at bank and in hand
8,430
27,557
10,303
28,694
Creditors: amounts falling due within one year
5
(151,671)
(53,067)
Net current liabilities
(141,368)
(24,373)
Net liabilities
(5,358)
(2,185)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(5,458)
(2,285)
Total equity
(5,358)
(2,185)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 30 October 2023
Mr A E V Hall
Director
Company registration number 12320678 (England and Wales)
CORSHAM HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Corsham House Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 The Market Place, Devizes, Wiltshire, United Kingdom, SN10 1HT. The principal place of business is Clyffe Hall, The Spring, Market Lavington, Devizes, Wiltshire, SN10 4EB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the term of the lease

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CORSHAM HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

CORSHAM HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022
22,188
Additions
113,822
At 31 March 2023
136,010
Depreciation and impairment
At 1 April 2022 and 31 March 2023
-
0
Carrying amount
At 31 March 2023
136,010
At 31 March 2022
22,188
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,873
1,137
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
26,055
68
Amounts owed to group undertakings
123,893
51,786
Other creditors
1,723
1,213
151,671
53,067
CORSHAM HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Parent company

The company is a wholly owned subsidiary of Springvale Properties Limited, incorporated in England and Wales. The registered office of Springvale Properties Limited is 17 Market Place, Devizes, Wiltshire, SN10 1BA.

 

The ultimate controlling parties are now regarded as the following:

- Mr A E V Hall by virtue of the fact he directly owns more than 25% of the total shares in the company and that he holds more than 50% of the voting rights in the company when holdings as a trustee are recognised

- Mr J F Clarkson by virtue of the fact he holds, as Trustee, more than 25% of the voting rights in the company

- Mrs C E Eames by virtue of the fact she directly owns more than 25% of the shares in the company

- Miss F L I Hall by virtue of the fact she directly owns more than 25% of the shares in the company

 

2023-03-312022-04-01false30 October 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr A E V Hallfalse123206782022-04-012023-03-31123206782023-03-31123206782022-03-3112320678core:LandBuildings2023-03-3112320678core:LandBuildings2022-03-3112320678core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3112320678core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3112320678core:CurrentFinancialInstruments2023-03-3112320678core:CurrentFinancialInstruments2022-03-3112320678core:ShareCapital2023-03-3112320678core:ShareCapital2022-03-3112320678core:RetainedEarningsAccumulatedLosses2023-03-3112320678core:RetainedEarningsAccumulatedLosses2022-03-3112320678bus:Director12022-04-012023-03-3112320678core:LeaseholdImprovements2022-04-012023-03-31123206782021-04-012022-03-3112320678core:LandBuildings2022-03-3112320678core:LandBuildings2022-04-012023-03-3112320678core:WithinOneYear2023-03-3112320678core:WithinOneYear2022-03-3112320678bus:PrivateLimitedCompanyLtd2022-04-012023-03-3112320678bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3112320678bus:FRS1022022-04-012023-03-3112320678bus:AuditExemptWithAccountantsReport2022-04-012023-03-3112320678bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP