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Registration number: 07035581

Charterglobe Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

image-name
 

Charterglobe Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Charterglobe Ltd

Company Information

Director

Miss Lucy Del Pattinson

Registered office

Lion House
400 Durham Road
Birtley
Co Durham
DH3 1LS

Accountants

Chuhan and Singh Partnership Limited
Chartered Accountants
81 Borough Road
Middlesbrough
TS1 3AA

 

Charterglobe Ltd

(Registration number: 07035581)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

581

Investment property

5

2,741,417

2,741,417

 

2,741,417

2,741,998

Current assets

 

Debtors

6

23,674

17,184

Cash at bank and in hand

 

8,933

12,454

 

32,607

29,638

Creditors: Amounts falling due within one year

7

(1,404,878)

(1,353,009)

Net current liabilities

 

(1,372,271)

(1,323,371)

Total assets less current liabilities

 

1,369,146

1,418,627

Creditors: Amounts falling due after more than one year

7

(905,397)

(966,693)

Provisions for liabilities

-

(111)

Net assets

 

463,749

451,823

Capital and reserves

 

Called up share capital

100

100

Retained earnings

463,649

451,723

Shareholders' funds

 

463,749

451,823

 

Charterglobe Ltd

(Registration number: 07035581)
Balance Sheet as at 31 January 2024 (continued)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 July 2024
 

.........................................
Miss Lucy Del Pattinson
Director

 

Charterglobe Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:
Lion House
400 Durham Road
Birtley
Co Durham
DH3 1LS

These financial statements were authorised for issue by the director on 25 July 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland'.

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Revenue recognition

Turnover represents rental income. Rental income is recognised on an accruals basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Charterglobe Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

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

20% straight line

Computer equipment

50% straight line

Investment properties

Investment properties are shown at cost. The director does not believe that the market value is materially different to the value shown in the accounts.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Charterglobe Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

8,482

5,242

13,724

At 31 January 2024

8,482

5,242

13,724

Depreciation

At 1 February 2023

8,482

4,660

13,142

Charge for the year

-

582

582

At 31 January 2024

8,482

5,242

13,724

Carrying amount

At 31 January 2024

-

-

-

At 31 January 2023

-

581

581

5

Investment properties

2024
£

At 1 February 2023

2,741,417

At 31 January 2024

2,741,417

Investment properties are shown at cost. The director does not believe that the market value is materially different to the value shown in the accounts.

 

Charterglobe Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

2,503

1,035

Amounts owed by related parties

8

10,000

9,810

Prepayments

 

11,171

6,339

   

23,674

17,184

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

61,303

61,303

Trade creditors

 

3,367

7,753

Taxation and social security

 

2,899

12,462

Accruals and deferred income

 

13,272

9,712

Other creditors

 

1,324,037

1,261,779

 

1,404,878

1,353,009

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

905,397

966,693

Included within creditors due within one year and due within more than one year is a secured
bank loan of £966,700 (2023: £1,027,996).

This bank loan is secured by way of a mortgage debenture over the investment properties of the
company.

 

Charterglobe Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

8

Related party transactions

Included in debtors is £10,000 (2023: £9,810) owed by a company in which the director, or her close family members, have an interest.

Included in creditors due within one year is £1,289,037 (2023: £1,226,779) owed to the company director and her close family members.

Also included in creditors due within one year is £35,000 (2023: £35,000) owed to a company in which the director, or her close family members, have an interest.