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Registration number: 06996262

Churchtown Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Churchtown Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Churchtown Developments Limited

Company Information

Directors

Mr Paul Dennis

Mrs Suzanne Dennis

Company secretary

Mr Paul Dennis

Registered office

C/o McGinty Demack
Vermont House
Bradley Lane
Wigan
Lancashire
WN6 0XF

Accountants

McGinty Demack Limited
Chartered Certified Accountants
Vermont House
Bradley Lane
Standish
Wigan
WN6 0XF

 

Churchtown Developments Limited

(Registration number: 06996262)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

233,629

234,255

Current assets

 

Debtors

5

2,621

-

Cash at bank and in hand

 

163,734

161,384

 

166,355

161,384

Creditors: Amounts falling due within one year

6

(51,832)

(65,795)

Net current assets

 

114,523

95,589

Total assets less current liabilities

 

348,152

329,844

Creditors: Amounts falling due after more than one year

6

(28,128)

(28,128)

Net assets

 

320,024

301,716

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

319,024

300,716

Shareholders' funds

 

320,024

301,716

For the financial year ending 31 August 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.

 

Churchtown Developments Limited

(Registration number: 06996262)
Balance Sheet as at 31 August 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 February 2024 and signed on its behalf by:
 

.........................................
Mr Paul Dennis
Company secretary and director

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

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

The address of its registered office is:
C/o McGinty Demack
Vermont House
Bradley Lane
Wigan
Lancashire
WN6 0XF
England

The principal place of business is:
Bowling Green House Farm
Broadhey Lane
High Moor
Wrightington
Lancashire
WN6 9BD

These financial statements were authorised for issue by the Board on 6 February 2024.

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.

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

25% Reducing balance

Motor vehicles

25% Reducing balance

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.

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 2).

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Properties under construction
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

7,558

17,190

230,286

1,797

256,831

Additions

-

-

-

300

300

At 31 August 2023

7,558

17,190

230,286

2,097

257,131

Depreciation

At 1 September 2022

7,218

14,895

-

463

22,576

Charge for the year

85

574

-

267

926

At 31 August 2023

7,303

15,469

-

730

23,502

Carrying amount

At 31 August 2023

255

1,721

230,286

1,367

233,629

At 31 August 2022

340

2,295

230,286

1,334

234,255

5

Debtors

Current

2023
£

2022
£

Other debtors

2,621

-

6

Creditors

Creditors: amounts falling due within one year

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

28,897

38,490

Taxation and social security

 

7,400

10,268

Accruals and deferred income

 

780

780

Other creditors

 

14,755

16,257

 

51,832

65,795

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

28,128

28,128

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

28,128

28,128

2023
£

2022
£

Current loans and borrowings

Bank borrowings

28,897

38,490

9

Related party transactions

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,576

10,144