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Registration number: 09094056

Chalkboard Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Chalkboard Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Chalkboard Properties Limited

Company Information

Directors

NJ Eves

D Chalkin

Registered office

5 Nursery Avenue
Hale
Altrincham
Cheshire
WA15 0JP

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Chalkboard Properties Limited

(Registration number: 09094056)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

225,000

180,000

Current assets

 

Debtors

5

104,663

54,374

Cash at bank and in hand

 

597

41,709

 

105,260

96,083

Creditors: Amounts falling due within one year

6

(150,767)

(149,549)

Net current liabilities

 

(45,507)

(53,466)

Total assets less current liabilities

 

179,493

126,534

Creditors: Amounts falling due after more than one year

6

(77,650)

(77,650)

Provisions for liabilities

(17,031)

(8,481)

Net assets

 

84,812

40,403

Capital and reserves

 

Called up share capital

7

20

20

Retained earnings

84,792

40,383

Shareholders' funds

 

84,812

40,403

 

Chalkboard Properties Limited

(Registration number: 09094056)
Balance Sheet as at 30 June 2023

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 11 March 2024 and signed on its behalf by:
 

.........................................
D Chalkin
Director

 

Chalkboard Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
5 Nursery Avenue
Hale
Altrincham
Cheshire
WA15 0JP
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Chalkboard Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 July

180,000

Fair value adjustments

45,000

At 30 June

225,000

 

Chalkboard Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

1,188

-

Other debtors

103,475

54,374

 

104,663

54,374

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

1,867

769

Accruals and deferred income

1,680

1,680

Other creditors

147,220

147,100

150,767

149,549

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

77,650

77,650

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

20

20

20

20

         
 

Chalkboard Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

77,650

77,650

9

Related party transactions

Transactions with directors

2023

At 1 July 2022
£

Repayments by director
£

At 30 June 2023
£

D Chalkin

Transactions with director

(146,750)

(120)

(146,870)

       
     

NJ Eves

Transactions with Director

10

-

10

       
     

 

2022

At 1 July 2021
£

Repayments by director
£

At 30 June 2022
£

D Chalkin

Transactions with director

(146,630)

(120)

(146,750)

       
     

NJ Eves

Transactions with Director

10

-

10