REGISTERED NUMBER: |
CHAPMORE END PROPERTIES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
REGISTERED NUMBER: |
CHAPMORE END PROPERTIES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
CHAPMORE END PROPERTIES LIMITED (REGISTERED NUMBER: 09145231) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CHAPMORE END PROPERTIES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
6-7 Castle Gate |
Castle Street |
Hertford |
Hertfordshire |
SG14 1HD |
CHAPMORE END PROPERTIES LIMITED (REGISTERED NUMBER: 09145231) |
BALANCE SHEET |
31 JULY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Investments | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CHAPMORE END PROPERTIES LIMITED (REGISTERED NUMBER: 09145231) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
1. | STATUTORY INFORMATION |
Chapmore End Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the 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 |
Long leasehold | - |
Grants received |
Grants received are accounted for using the accrual model and are recognised in the profit and loss in the periods in which the related costs or expenses are recognised. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
CHAPMORE END PROPERTIES LIMITED (REGISTERED NUMBER: 09145231) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
4. | TANGIBLE FIXED ASSETS |
Long |
leasehold |
£ |
COST |
At 1 August 2022 |
and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CURRENT ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Other investments |
The two properties were originally purchased in 2015 for £1,090,634. The directors believe that the cost is similar to market value at the year end. |
The Freehold of Nineveh House was purchased on 15 October 2021. The total costs were £1,380,209. On the same date a 999-year headlease was created. The freehold interest of the property subject to the 999-year lease was valued at £8,000 by Flude Property Consultants (RICS) on 21 May 2021. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
8. | RELATED PARTY DISCLOSURES |
During the year loans were received from the directors, J Smith and A Barry. There was no set repayment date and no interest was charged. The amount owed to the directors at the year end was £214,218 (2022 - £73,729) and £903,392 (2022: £903,392) respectively. |
The company purchased the Freehold of Nineveh House in 2022. Included in this transaction was the creation of a 999-year headlease which was bought by A Batty's SIPP (A Batty is the director of the company) for £1,311,288. The SIPP has sublet the property back to Chapmore End Properties Limited for 25 years at £67,500 per annum. These transactions are all at market value. |
CHAPMORE END PROPERTIES LIMITED (REGISTERED NUMBER: 09145231) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
9. | ULTIMATE CONTROLLING PARTY |
During the year, A Batty and J Smith, the directors, controlled the company by virtue of a controlling interest of 100% of the issued ordinary share capital. |
10. | GOING CONCERN |
The directors recognise that the company has an insolvent balance sheet and confirm that they will continue to support the company personally until it is in a solvent position again. |