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REGISTERED NUMBER: 08492904 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023

FOR

CHROME CLASSIC INVESTMENTS LIMITED

CHROME CLASSIC INVESTMENTS LIMITED (REGISTERED NUMBER: 08492904)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHROME CLASSIC INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTORS: P Ataliotis
A D Sunter





REGISTERED OFFICE: Unit 28
Drum Industrial Estate
Third Avenue
Chester Le Street
Co. Durham
DH2 1AY





REGISTERED NUMBER: 08492904 (England and Wales)





ACCOUNTANTS: Avraam Associates Limited
Chartered Accountants
495 Green Lanes
London
N13 4BS

CHROME CLASSIC INVESTMENTS LIMITED (REGISTERED NUMBER: 08492904)

BALANCE SHEET
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,845 69,170
Investments 5 279,477 336,439
Investment property 6 13,310,897 12,295,848
13,642,219 12,701,457

CURRENT ASSETS
Debtors 7 33,957 61,343
Cash at bank and in hand 36,977 58,773
70,934 120,116
CREDITORS
Amounts falling due within one year 8 505,476 5,959,694
NET CURRENT LIABILITIES (434,542 ) (5,839,578 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,207,677 6,861,879

CREDITORS
Amounts falling due after more than one
year

9

(5,235,500

)

-

PROVISIONS FOR LIABILITIES 11 (230,918 ) (13,142 )
NET ASSETS 7,741,259 6,848,737

CAPITAL AND RESERVES
Called up share capital 12 102 102
Share premium 198 198
Non distributable reserve 13 653,871 -
Retained earnings 7,087,088 6,848,437
SHAREHOLDERS' FUNDS 7,741,259 6,848,737

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 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.

CHROME CLASSIC INVESTMENTS LIMITED (REGISTERED NUMBER: 08492904)

BALANCE SHEET - continued
30TH APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th January 2024 and were signed on its behalf by:




A D Sunter - Director



P Ataliotis - Director


CHROME CLASSIC INVESTMENTS LIMITED (REGISTERED NUMBER: 08492904)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023

1. STATUTORY INFORMATION

Chrome Classic Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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 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 each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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.

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 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CHROME CLASSIC INVESTMENTS LIMITED (REGISTERED NUMBER: 08492904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st May 2022
and 30th April 2023 214,783
DEPRECIATION
At 1st May 2022 145,613
Charge for year 17,325
At 30th April 2023 162,938
NET BOOK VALUE
At 30th April 2023 51,845
At 30th April 2022 69,170

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Other investments not loans 279,477 336,439

Additional information is as follows:
Other
investments
£   
COST
At 1st May 2022 2
Disposals (2 )
At 30th April 2023 -
NET BOOK VALUE
At 30th April 2023 -
At 30th April 2022 2

Investments (neither listed nor unlisted) were as follows:
2023 2022

CHROME CLASSIC INVESTMENTS LIMITED (REGISTERED NUMBER: 08492904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

5. FIXED ASSET INVESTMENTS - continued
£    £   
Other 336,437 336,437
Disposals (56,960 ) -
279,477 336,437

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2022 12,295,848
Additions 143,221
Revaluations 871,828
At 30th April 2023 13,310,897
NET BOOK VALUE
At 30th April 2023 13,310,897
At 30th April 2022 12,295,848

Fair value at 30th April 2023 is represented by:
£   
Valuation in 2023 13,310,897

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

2023 2022
£    £   
Cost 12,439,069 -

The investment properties were valued on an open market basis on 16th November 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,709 29,053
Other debtors 22,248 32,290
33,957 61,343

CHROME CLASSIC INVESTMENTS LIMITED (REGISTERED NUMBER: 08492904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 5,148,139
Trade creditors 1,956 8,987
Taxation and social security 108,214 119,910
Other creditors 395,306 682,658
505,476 5,959,694

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 5,235,500 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 5,235,500 5,148,139

The bank has a mortgage debenture incorporating a fixed and floating charge over the current assets of the company.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 230,918 13,142

Deferred
tax
£   
Balance at 1st May 2022 13,142
Charge to Income Statement during year 217,776
Balance at 30th April 2023 230,918

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
2 A Ordinary £1 2 2
102 102

CHROME CLASSIC INVESTMENTS LIMITED (REGISTERED NUMBER: 08492904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

13. RESERVES
Non
distributable
reserve
£   
Transfer 653,871

At 30th April 2023 653,871