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Registration number: 03759772

Chiltlee Manor Investments Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 December 2023

 

Chiltlee Manor Investments Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Chiltlee Manor Investments Limited

(Registration number: 03759772)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

363,648

284,983

Current assets

 

Debtors

5

2,900

6,450

Cash at bank and in hand

 

170,619

146,037

 

173,519

152,487

Creditors: Amounts falling due within one year

6

(7,647)

(8,810)

Net current assets

 

165,872

143,677

Total assets less current liabilities

 

529,520

428,660

Provisions for liabilities

(66,919)

(51,790)

Net assets

 

462,601

376,870

Capital and reserves

 

Called up share capital

45,000

45,000

Fair value reserve

289,915

225,808

Profit and loss account

127,686

106,062

Shareholders' funds

 

462,601

376,870

For the financial year ending 31 December 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 19 April 2024 and signed on its behalf by:
 

 

Chiltlee Manor Investments Limited

(Registration number: 03759772)
Statement of Financial Position as at 31 December 2023

.........................................
J Doubtfire
Director

 

Chiltlee Manor Investments Limited

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

1

General information

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

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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 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.

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

 

Chiltlee Manor Investments Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.

No depreciation is charged on these investment properties.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Chiltlee Manor Investments Limited

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

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

284,983

284,983

Revaluations

79,236

79,236

Disposals

(571)

(571)

At 31 December 2023

363,648

363,648

Carrying amount

At 31 December 2023

363,648

363,648

At 31 December 2022

284,983

284,983

Included within the net book value of land and buildings above is £363,648 (2022 - £284,983) in respect of freehold land and buildings.
 

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

100

50

Amounts owed by related parties

7

2,800

6,400

 

2,900

6,450

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Taxation and social security

5,052

7,421

Accruals and deferred income

1,695

1,389

Other creditors

900

-

7,647

8,810

7

Related party transactions

The ultimate parent undertaking, Chiltlee Manor Residents Association Limited, has given an unlimited guarantee in respect of the financial obligations and liabilities of Chiltlee Manor Investments Limited.

Chiltlee Manor Investments Limited has loaned Chiltlee Manor Residents Association Limited the sum of £2,800 (2022: £6,400). The loan is interest free and unsecured with no fixed repayment date.

 

Chiltlee Manor Investments Limited

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

8

Parent and ultimate parent undertaking

The company's immediate parent is Chiltlee Manor Residents Association Limited, incorporated in England and Wales. The registered office of the parent undertaking is 38 Newtown Road, Liphook, Hampshire, GU30 7DX.