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REGISTERED NUMBER: 04126271 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Choma Property Rental Limited

Choma Property Rental Limited (Registered number: 04126271)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Balance Sheet 1

Notes to the Financial Statements 3


Choma Property Rental Limited (Registered number: 04126271)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 458,000 742,000

CURRENT ASSETS
Debtors 5 14,551 14,226
Cash at bank 120,183 87,840
134,734 102,066
CREDITORS
Amounts falling due within one year 6 101,687 89,483
NET CURRENT ASSETS 33,047 12,583
TOTAL ASSETS LESS CURRENT
LIABILITIES

491,047

754,583

CREDITORS
Amounts falling due after more than
one year

7

-

(174,714

)

PROVISIONS FOR LIABILITIES (33,283 ) (9,534 )
NET ASSETS 457,764 570,335

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 8 164,265 234,920
Non distributable reserve 8 38,000 38,000
Retained earnings 8 255,497 297,413
SHAREHOLDERS' FUNDS 457,764 570,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Choma Property Rental Limited (Registered number: 04126271)

Balance Sheet - continued
31 December 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:





Ms A Choma - Director


Choma Property Rental Limited (Registered number: 04126271)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Choma Property Rental Limited is a private company limited by shares in England. Its registered number is 04126271 and its registered office is Ploughroyd Barn, Addersgate Lane, Shibden, Halifax, HX3 7TD.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable in the year from tenants.

Investment property
Investment properties are shown at their most recent valuation. The directors consider there would be undue cost and effort to measure the properties at fair value at each reporting date.

Bank loans
Bank loans are initially recognised at their transaction price and are subsequently valued at each year end based on the capital repayments made in the year.

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

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 742,000
Disposals (284,000 )
At 31 December 2022 458,000
NET BOOK VALUE
At 31 December 2022 458,000
At 31 December 2021 742,000

The purchase price of the investment properties was £241,823.

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2022 458,000

Choma Property Rental Limited (Registered number: 04126271)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

31.12.22 31.12.21
£    £   
Cost 241,823 466,766

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other debtors 14,551 14,226

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 89,550 76,303
Taxation and social security 3,502 4,321
Other creditors 8,635 8,859
101,687 89,483

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans - 174,714

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 97,114

8. RESERVES
Non
Retained Revaluation distributable
earnings reserve reserve Totals
£    £    £    £   

At 1 January 2022 297,413 234,920 38,000 570,333
Deficit for the year (41,916 ) (41,916 )
Sale of property - (70,655 ) - (70,655 )
At 31 December 2022 255,497 164,265 38,000 457,762