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Registration number: 5260189

Charis House Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Charis House Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Charis House Limited

Company Information

Directors

Mr V Mangaleshwaran

Mrs V Mangaleshwaran

Miss M Mangaleshwaran

Miss A Mangaleshwaran

Company secretary

Mrs V Mangaleshwaran

Registered office

22 Avondale Gardens
Hounslow
Middlesex
TW4 5HX

Accountants

EKWilliams Accountants Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

Charis House Limited

(Registration number: 5260189)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,349,538

1,344,172

Current assets

 

Debtors

5

48,965

51,614

Cash at bank and in hand

 

1,040,379

1,072,092

 

1,089,344

1,123,706

Creditors: Amounts falling due within one year

6

(292,727)

(245,011)

Net current assets

 

796,617

878,695

Total assets less current liabilities

 

2,146,155

2,222,867

Creditors: Amounts falling due after more than one year

6

(464,677)

(530,826)

Provisions for liabilities

(50,172)

(37,111)

Net assets

 

1,631,306

1,654,930

Capital and reserves

 

Called up share capital

150

150

Retained earnings

1,631,156

1,654,780

Shareholders' funds

 

1,631,306

1,654,930

 

Charis House Limited

(Registration number: 5260189)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 March 2024 and signed on its behalf by:
 

.........................................
Mr V Mangaleshwaran
Director

   
     
 

Charis House Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
22 Avondale Gardens
Hounslow
Middlesex
TW4 5HX
United Kingdom

These financial statements were authorised for issue by the Board on 14 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Charis House Limited

Notes to the Financial Statements for the Year Ended 31 October 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.

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 and fittings

15% Reducing balance

Office equipment

15% Reducing balance

Motor Vehicles

15% Reducing balance

Property

No Depreciation

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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Charis House Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

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 68 (2022 - 68).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

1,148,849

417,771

105,100

1,671,720

Additions

-

40,782

-

40,782

At 31 October 2023

1,148,849

458,553

105,100

1,712,502

Depreciation

At 1 November 2022

-

269,081

58,467

327,548

Charge for the year

-

28,421

6,995

35,416

At 31 October 2023

-

297,502

65,462

362,964

Carrying amount

At 31 October 2023

1,148,849

161,051

39,638

1,349,538

At 31 October 2022

1,148,849

148,690

46,633

1,344,172

The company's property is subject to a legal charge with Santander.

 

Charis House Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

5

Debtors

2023
£

2022
£

Trade debtors

38,569

50,614

Prepayments

2,796

-

Other debtors

7,600

1,000

48,965

51,614

Current

2023
£

2022
£

Trade debtors

38,569

50,614

Prepayments

2,796

-

Other debtors

7,600

1,000

 

48,965

51,614

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

47,980

57,985

Taxation and social security

 

77,309

115,631

Accruals and deferred income

 

3,000

3,000

Other creditors

 

164,438

68,395

 

292,727

245,011

Included in creditors due within 1 year is £47,980 (2022: £57,985) which is secured.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

464,677

530,826

Included in creditors due in more than 1 year is £464,677 (2022: £530,826) which is secured.