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REGISTERED NUMBER: 11872208 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2023

for

Chenery Taylor Management Company Ltd

Chenery Taylor Management Company Ltd (Registered number: 11872208)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Chenery Taylor Management Company Ltd (Registered number: 11872208)

Balance Sheet
31st December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 5 19,908 9,506
Investments 6 90,500 400
Investment property 7 1,153,232 1,081,653
1,263,640 1,091,559

Current assets
Debtors 8 27,077 23,009
Cash at bank 441 35,629
27,518 58,638
Creditors
Amounts falling due within one year 9 151,222 184,055
Net current liabilities (123,704 ) (125,417 )
Total assets less current liabilities 1,139,936 966,142

Creditors
Amounts falling due after more than one
year

10

(412,077

)

(452,944

)

Provisions for liabilities (4,977 ) (2,376 )
Net assets 722,882 510,822

Capital and reserves
Called up share capital 12 405 405
Retained earnings 13 722,477 510,417
Shareholders' funds 722,882 510,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Chenery Taylor Management Company Ltd (Registered number: 11872208)

Balance Sheet - continued
31st December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14th March 2024 and were signed by:





Mr J A Taylor - Director


Chenery Taylor Management Company Ltd (Registered number: 11872208)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. Statutory information

Chenery Taylor Management Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11872208

Registered office: Archdale Barn
14 Back Lane
West Winch
Kings Lynn
Norfolk
PE33 0LF

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Given the straightforward operations and financial position of the company, there are not considered to be any key sources of judgement or estimation uncertainty within these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% p.a. reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Chenery Taylor Management Company Ltd (Registered number: 11872208)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Chenery Taylor Management Company Ltd (Registered number: 11872208)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

5. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1st January 2023 10,334
Additions 12,303
At 31st December 2023 22,637
Depreciation
At 1st January 2023 828
Charge for year 1,901
At 31st December 2023 2,729
Net book value
At 31st December 2023 19,908
At 31st December 2022 9,506

Chenery Taylor Management Company Ltd (Registered number: 11872208)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


6. Fixed asset investments

2023 2022
£ £
Shares in group undertakings 500 400
Loans to group undertakings 90,000 -
90,500 400

Additional information is as follows:
Shares in
group
undertakings
£
Cost
At 1st January 2023 400
Additions 100
At 31st December 2023 500
Net book value
At 31st December 2023 500
At 31st December 2022 400
Loans to
group
undertakings
£
New in year 90,000
At 31st December 2023 90,000

7. Investment property
Total
£
Fair value
At 1st January 2023 1,081,653
Additions 71,579
At 31st December 2023 1,153,232
Net book value
At 31st December 2023 1,153,232
At 31st December 2022 1,081,653

The freehold investment property was valued in December 2023 by the directors based upon the market prices at that time taking into account existing tenancies (where this has an effect upon the value of the property).

Chenery Taylor Management Company Ltd (Registered number: 11872208)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


8. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 21,600 4,170
Other debtors 5,477 18,839
27,077 23,009

9. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 46,737 47,056
Trade creditors 52,097 75,628
Taxation and social security 50,520 9,390
Other creditors 1,868 51,981
151,222 184,055

10. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 412,077 452,944

11. Secured debts

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 458,814 500,000

Security has been provided by the company in respect of bank loans that it has entered into by way of a debenture which pledges a fixed charge and floating charge as security, covering the land and buildings held in the company; however incurred, whether now or in the future.

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
400 Ordinary A £1 400 400
5 Ordinary B £1 5 5
405 405

Chenery Taylor Management Company Ltd (Registered number: 11872208)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


13. Reserves

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.