Registered number
10237289
Chartwell Land Ltd
Filleted Accounts
31 July 2023
Chartwell Land Ltd
Registered number: 10237289
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 633,833 629,174
Current assets
Debtors 4 2,732 68,526
Cash at bank and in hand 113,654 39,637
116,386 108,163
Creditors: amounts falling due within one year 5 (83,130) (86,427)
Net current assets 33,256 21,736
Total assets less current liabilities 667,089 650,910
Creditors: amounts falling due after more than one year 6 (156,678) (156,678)
Net assets 510,411 494,232
Capital and reserves
Called up share capital 100 100
Profit and loss account 510,311 494,132
Shareholders' funds 510,411 494,232
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Jayshree Patel
Director
Approved by the board on 12 December 2023
Chartwell Land Ltd
Notes to the Accounts
for the year ended 31 July 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.
Investment and Development Properties
Investment and development properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The methods and significant assumptions used to acertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows:
Properties are valued using open market valuation on freehold basis, conducted by the directors with assistance from local estate agents.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company (including directors) 1 1
3 Investment & Development Properties
Investment & Development properties Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 628,278 1,484 629,762
Additions 4,820 - 4,820
At 31 July 2023 633,098 1,484 634,582
Depreciation
At 1 August 2022 - 588 588
Charge for the year - 161 161
At 31 July 2023 - 749 749
Net book value
At 31 July 2023 633,098 735 633,833
At 31 July 2022 628,278 896 629,174
4 Debtors 2023 2022
£ £
Other debtors 2,732 68,526
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 676 4,852
Other creditors 82,454 81,575
83,130 86,427
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 156,678 156,678
7 Other information
Chartwell Land Ltd is a private company limited by shares and incorporated in England. Its registered office is:
473 Footscray Road
Eltham
London
SE9 3UH
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