2023-07-012024-06-302024-06-30false02267116Chestnut Properties (Penrith) 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Chestnut Properties (Penrith) Limited

Registered Number
02267116
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

Chestnut Properties (Penrith) Limited
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Delia Audrey Astle-Haigh
Lewis Cooke
Kathleen Glendinning
Liam Glendinning
Raymond Glendinning
Richard Alan Haigh
Ian Heath
Lauren Lamour
Stephen Moffat
Vanessa Ann Moffat
Steve Mounsey
Chelsea Nicholson

Registered Address

15 Chestnut Close
Penrith
CA11 8TL

Registered Number

02267116 (England and Wales)
Chestnut Properties (Penrith) Limited
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets316
16
Current assets
Cash at bank and on hand12,9308,545
12,9308,545
Creditors amounts falling due within one year5(817)(6,436)
Net current assets (liabilities)12,1132,109
Total assets less current liabilities12,1142,115
Net assets12,1142,115
Capital and reserves
Called up share capital99
Profit and loss account12,1052,106
Shareholders' funds12,1142,115
The financial statements were approved and authorised for issue by the Board of Directors on 6 August 2024, and are signed on its behalf by:
Richard Alan Haigh
Director
Registered Company No. 02267116
Chestnut Properties (Penrith) Limited
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery10
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in notes. Prepayments are not financial instruments. Cash at bank – is classified as a basic financial instrument and is measured at face value. Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in notes. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 July 2319192
At 30 June 2419192
Depreciation and impairment
At 01 July 23-8686
Charge for year-55
At 30 June 24-9191
Net book value
At 30 June 241-1
At 30 June 23156
4.Impairment of tangible fixed assets
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.
5.Creditors: amounts due within one year

2024

2023

££
Other creditors2675,886
Accrued liabilities and deferred income550550
Total8176,436
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.