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REGISTERED NUMBER: 10461532 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Charltons Property Ltd

Charltons Property Ltd (Registered number: 10461532)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Charltons Property Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: P J Charlton
D G Charlton
A D Charlton





REGISTERED OFFICE: Sawmills
Buckland Down
Frome
Somerset
BA11 2RH





REGISTERED NUMBER: 10461532 (England and Wales)

Charltons Property Ltd (Registered number: 10461532)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,660,000 2,660,000

CURRENT ASSETS
Debtors 5 29,285 38,507
Cash at bank 121,411 124,912
150,696 163,419
CREDITORS
Amounts falling due within one year 6 140,257 143,392
NET CURRENT ASSETS 10,439 20,027
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,670,439

2,680,027

CREDITORS
Amounts falling due after more than one
year

7

(1,676,297

)

(1,721,588

)

PROVISIONS FOR LIABILITIES (192,640 ) (169,523 )
NET ASSETS 801,502 788,916

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Other reserves 585,627 608,744
Retained earnings 212,875 177,172
SHAREHOLDERS' FUNDS 801,502 788,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





P J Charlton - Director


Charltons Property Ltd (Registered number: 10461532)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Charltons Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises of rental income receivable and is recognised in accordance with the terms of the tenants' lease agreements.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

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 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 2,660,000
NET BOOK VALUE
At 30 November 2023 2,660,000
At 30 November 2022 2,660,000

Charltons Property Ltd (Registered number: 10461532)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2018 810,561
Valuation in 2021 (40,000 )
Cost 1,889,439
2,660,000

If freehold investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,889,439 1,889,439

Freehold investment property was valued on an open market basis basis on 19 October 2021 by ETP .

In the opinion of the directors the above valuation remains appropriate as at the balance sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,386 26,227
Other debtors 19,899 2,508
Amounts due by related undertakings - 9,772
29,285 38,507

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 55,790 55,193
Trade creditors 12,686 3,798
Tax 10,461 16,349
Social security and other taxes 2,634 2,964
VAT 1,542 2,026
Other creditors 22,122 26,678
Directors' current accounts 22,203 22,203
Accruals and deferred income 12,819 14,181
140,257 143,392

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 55,790 55,193
Bank loans - 2-5 years 143,747 153,664
Bank loans more 5 yr by instal 1,476,760 1,512,731
1,676,297 1,721,588

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,476,760 1,512,731

Charltons Property Ltd (Registered number: 10461532)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,732,087 1,776,781

Bank borrowings are secured by a fixed and floating charge over the assets and undertaking of the company.

9. RELATED PARTY DISCLOSURES

At the balance sheet date, £nil (2022: £9,771) was due to the company from a company under common control. The loan is interest free and repayable on demand.