Silverfin false 31/05/2023 01/06/2022 31/05/2023 N C Barnes 26/05/2015 L J Barnes 26/05/2015 27 February 2024 The principal activity of the company continued to be that of other letting and operating of owned or leased real estate 09594102 2023-05-31 09594102 bus:Director1 2023-05-31 09594102 bus:Director2 2023-05-31 09594102 2022-05-31 09594102 core:CurrentFinancialInstruments 2023-05-31 09594102 core:CurrentFinancialInstruments 2022-05-31 09594102 core:ShareCapital 2023-05-31 09594102 core:ShareCapital 2022-05-31 09594102 core:RetainedEarningsAccumulatedLosses 2023-05-31 09594102 core:RetainedEarningsAccumulatedLosses 2022-05-31 09594102 core:FurnitureFittings 2022-05-31 09594102 core:ComputerEquipment 2022-05-31 09594102 core:FurnitureFittings 2023-05-31 09594102 core:ComputerEquipment 2023-05-31 09594102 2022-06-01 2023-05-31 09594102 bus:FullAccounts 2022-06-01 2023-05-31 09594102 bus:SmallEntities 2022-06-01 2023-05-31 09594102 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09594102 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09594102 bus:Director1 2022-06-01 2023-05-31 09594102 bus:Director2 2022-06-01 2023-05-31 09594102 core:FurnitureFittings core:TopRangeValue 2022-06-01 2023-05-31 09594102 core:ComputerEquipment core:TopRangeValue 2022-06-01 2023-05-31 09594102 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure

Company No: 09594102 (England and Wales)

CHESHIRE HOMES ACQUISITION LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH THE REGISTRAR

CHESHIRE HOMES ACQUISITION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023

Contents

CHESHIRE HOMES ACQUISITION LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
CHESHIRE HOMES ACQUISITION LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
DIRECTORS N C Barnes
L J Barnes
REGISTERED OFFICE Two Hoots Barn
Knutsford Road
Mobberley
Cheshire
England
WA16 7BG
Cheshire
United Kingdom
COMPANY NUMBER 09594102 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
CHESHIRE HOMES ACQUISITION LIMITED

BALANCE SHEET

AS AT 31 MAY 2023
CHESHIRE HOMES ACQUISITION LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2023
Note 2023 2022
£ £
Fixed assets
Investment property 5 265,500 270,000
265,500 270,000
Current assets
Debtors 6 2,189 461
Cash at bank and in hand 7 3,301 12,141
5,490 12,602
Creditors: amounts falling due within one year 8 ( 240,862) ( 246,745)
Net current liabilities (235,372) (234,143)
Total assets less current liabilities 30,128 35,857
Provision for liabilities ( 8,732) ( 9,351)
Net assets 21,396 26,506
Capital and reserves
Called-up share capital 2 2
Profit and loss account 21,394 26,504
Total shareholders' funds 21,396 26,506

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cheshire Homes Acquisition Limited (registered number: 09594102) were approved and authorised for issue by the Board of Directors on 27 February 2024. They were signed on its behalf by:

N C Barnes
Director
CHESHIRE HOMES ACQUISITION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
CHESHIRE HOMES ACQUISITION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cheshire Homes Acquisition Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Two Hoots Barn, Knutsford Road, Mobberley, Cheshire, England, WA16 7BG, Cheshire, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 June 2022 609 788 1,397
At 31 May 2023 609 788 1,397
Accumulated depreciation
At 01 June 2022 609 788 1,397
At 31 May 2023 609 788 1,397
Net book value
At 31 May 2023 0 0 0
At 31 May 2022 0 0 0

5. Investment property

Investment property
£
Valuation
As at 01 June 2022 270,000
Fair value movement (4,500)
As at 31 May 2023 265,500

The fair value of the company’s investment property has been arrived at on the basis of a valuation carried out by the companies directors, on an open market value basis. The valuation was arrived at by reference to market evidence of transaction prices for similar properties.

6. Debtors

2023 2022
£ £
Other debtors 2,189 461

7. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 3,301 12,141

8. Creditors: amounts falling due within one year

2023 2022
£ £
Other loans 239,991 245,158
Accruals 871 1,587
240,862 246,745