Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true12023-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalse1false 12970021 2023-04-01 2024-03-31 12970021 2022-04-01 2023-03-31 12970021 2024-03-31 12970021 2023-03-31 12970021 c:Director1 2023-04-01 2024-03-31 12970021 d:FreeholdInvestmentProperty 2024-03-31 12970021 d:FreeholdInvestmentProperty 2023-03-31 12970021 d:CurrentFinancialInstruments 2024-03-31 12970021 d:CurrentFinancialInstruments 2023-03-31 12970021 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12970021 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12970021 d:ShareCapital 2024-03-31 12970021 d:ShareCapital 2023-03-31 12970021 d:RetainedEarningsAccumulatedLosses 2024-03-31 12970021 d:RetainedEarningsAccumulatedLosses 2023-03-31 12970021 c:OrdinaryShareClass1 2023-04-01 2024-03-31 12970021 c:OrdinaryShareClass1 2024-03-31 12970021 c:OrdinaryShareClass1 2023-03-31 12970021 c:FRS102 2023-04-01 2024-03-31 12970021 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12970021 c:FullAccounts 2023-04-01 2024-03-31 12970021 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12970021 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12970021









CHILTERN PROPERTIES (HITCHIN) LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CHILTERN PROPERTIES (HITCHIN) LIMITED
REGISTERED NUMBER: 12970021

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,000,000
1,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
5,675
9,501

Cash at bank
  
226,586
168,930

Current liabilities
  
232,261
178,431

Creditors: amounts falling due within one year
 6 
(1,057,138)
(1,061,529)

Net current liabilities
  
 
 
(824,877)
 
 
(883,098)

Total assets less current liabilities
  
175,123
116,902

  

Net assets
  
175,123
116,902


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
175,023
116,802

  
175,123
116,902


Page 1

 
CHILTERN PROPERTIES (HITCHIN) LIMITED
REGISTERED NUMBER: 12970021

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Mr M A Shadbolt
Director

Date: 22 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CHILTERN PROPERTIES (HITCHIN) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Chiltern Properties (Hitchin) Limited is a private company limited by shares, incorporated in England and Wales, United Kingdom. The address of the registered office is 6 Tilehouse Street, Hitchin, Herts, United Kingdom, SG5 2DW. This Company is part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CHILTERN PROPERTIES (HITCHIN) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Debtors

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

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
CHILTERN PROPERTIES (HITCHIN) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
CHILTERN PROPERTIES (HITCHIN) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,000,000



At 31 March 2024
1,000,000

The 2024 valuations were made by M A Shadbolt, a director of the company, on an open market value for existing use basis.



At 31 March 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,000,000
1,000,000


5.


Debtors

2024
2023
£
£


Trade debtors
5,675
9,501



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
18,756
22,160

Trade creditors
31
583

Amounts owed to group undertakings
1,000,000
1,000,000

Corporation tax
19,407
16,389

Accruals and deferred income
18,944
22,397

1,057,138
1,061,529


Page 6

 
CHILTERN PROPERTIES (HITCHIN) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



8.


Related party transactions

During the year the Company operated loans with Tilehouse Properties Limited, a company under common control. The amount payable to Tilehouse Properties Limited at the year end was £1,000,000 (2023 - £1,000,000). These loans are interest free and repayable on demand.


9.


Controlling party

The Company is a wholly owned subsidiary of Opensale Limited, a company registered in England and Wales. The address of the registered office is 6 Tilehouse Street, Hitchin, Herts, United Kingdom, SG5 2DW.

Page 7