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REGISTERED NUMBER: 06522598











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CHINEWOOD PROPERTIES (PORTUGAL) LIMITED

CHINEWOOD PROPERTIES (PORTUGAL) LIMITED (REGISTERED NUMBE

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

CHINEWOOD PROPERTIES (PORTUGAL) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: A N Ellis





SECRETARY: C Ellis





REGISTERED OFFICE: Old Library House
4 Dean Park Crescent
Bournemouth
Dorset
BH1 1LY





REGISTERED NUMBER: 06522598





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

CHINEWOOD PROPERTIES (PORTUGAL) LIMITED (REGISTERED NUMBE

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 717,000 717,000
717,000 717,000

CURRENT ASSETS
Debtors 107,047 6,021
Cash at bank 118,591 606
225,638 6,627
CREDITORS
Amounts falling due within one year 625,402 740,186
NET CURRENT LIABILITIES (399,764 ) (733,559 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,236

(16,559

)

CREDITORS
Amounts falling due after more than one
year

6

360,097

-
NET LIABILITIES (42,861 ) (16,559 )

CHINEWOOD PROPERTIES (PORTUGAL) LIMITED (REGISTERED NUMBE

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 17,636 17,636
Retained earnings (60,499 ) (34,197 )
(42,861 ) (16,559 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 April 2024 and were signed by:





A N Ellis - Director


CHINEWOOD PROPERTIES (PORTUGAL) LIMITED (REGISTERED NUMBE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Chinewood Properties (Portugal) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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,modified to include
the revaluation of investment properties.

Going concern
Despite net current liabilities of £759,861 (2022: £733,559) at the year-end, the accounts are prepared
on a going concern basis as the director is confident the company will continue to receive further financial support from related entities.

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 - 25% on cost

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.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially
recognised at cost, which includes the purchase cost and any directly attributable expenditure.
Subsequently it is measured at fair value at the reporting end date. Changes in fair value are 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.


CHINEWOOD PROPERTIES (PORTUGAL) LIMITED (REGISTERED NUMBE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 9,464
DEPRECIATION
At 1 April 2022
and 31 March 2023 9,464
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 717,000
NET BOOK VALUE
At 31 March 2023 717,000
At 31 March 2022 717,000

CHINEWOOD PROPERTIES (PORTUGAL) LIMITED (REGISTERED NUMBE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 17,636
Cost 699,364
717,000

The valuation of the investment property was reviewed at 31 March 2023 by the director, on an open
market basis. No depreciation is provided in respect of this property.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 360,097 -

7. RELATED PARTY DISCLOSURES

At the year-end the company owed £560,334 (2022: £692,125) to a company in which the director has
an interest.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CHINEWOOD PROPERTIES (PORTUGAL) LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chinewood Properties (Portugal) Limited for the year ended 31 March 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Chinewood Properties (Portugal) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chinewood Properties (Portugal) Limited and state those matters that we have agreed to state to the director of Chinewood Properties (Portugal) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chinewood Properties (Portugal) Limited and its director for our work or for this report.

It is your duty to ensure that Chinewood Properties (Portugal) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Chinewood Properties (Portugal) Limited. You consider that Chinewood Properties (Portugal) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chinewood Properties (Portugal) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE


30 April 2024