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REGISTERED NUMBER: 10601669 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

CHARLOTTE STREET PROPERTY COMPANY
LIMITED

CHARLOTTE STREET PROPERTY COMPANY
LIMITED (REGISTERED NUMBER: 10601669)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHARLOTTE STREET PROPERTY COMPANY
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: P Thaker
Mrs J P Thaker





REGISTERED OFFICE: 9 Lingwell Road
London
SW17 7NH





REGISTERED NUMBER: 10601669 (England and Wales)






CHARLOTTE STREET PROPERTY COMPANY
LIMITED (REGISTERED NUMBER: 10601669)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 8,430,000 7,230,000

CURRENT ASSETS
Debtors 5 4,699 141,033
Cash at bank 130,239 37,604
134,938 178,637
CREDITORS
Amounts falling due within one year 6 (181,859 ) (229,020 )
NET CURRENT LIABILITIES (46,921 ) (50,383 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,383,079

7,179,617

CREDITORS
Amounts falling due after more than one
year

7

(3,580,828

)

(3,539,920

)

PROVISIONS FOR LIABILITIES 9 (141,446 ) -
NET ASSETS 4,660,805 3,639,697

CAPITAL AND RESERVES
Called up share capital 10 1,100 1,100
Share premium 11 3,560,873 3,560,873
Fair value reserve 11 917,522 -
Retained earnings 11 181,310 77,724
SHAREHOLDERS' FUNDS 4,660,805 3,639,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

CHARLOTTE STREET PROPERTY COMPANY
LIMITED (REGISTERED NUMBER: 10601669)

BALANCE SHEET - continued
31ST MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th August 2024 and were signed on its behalf by:




P Thaker - Director



Mrs J P Thaker - Director


CHARLOTTE STREET PROPERTY COMPANY
LIMITED (REGISTERED NUMBER: 10601669)

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

1. STATUTORY INFORMATION

Charlotte Street Property Company Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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 2 (2023 - 2 ) .

CHARLOTTE STREET PROPERTY COMPANY
LIMITED (REGISTERED NUMBER: 10601669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 7,230,000
Revaluations 1,200,000
At 31st March 2024 8,430,000
NET BOOK VALUE
At 31st March 2024 8,430,000
At 31st March 2023 7,230,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2024 679,318
Cost 7,750,682
8,430,000

If Investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 7,750,682 7,750,682

Investment properties were valued on an open market basis on 31st March 2024 by Parimal Thaker, director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors and prepayments 4,699 -
Deferred tax asset - 141,033
4,699 141,033

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 74,918 74,918
Tax 67,862 34,316
Other creditors and accruals 18,423 19,786
Directors' current accounts 20,656 100,000
181,859 229,020

CHARLOTTE STREET PROPERTY COMPANY
LIMITED (REGISTERED NUMBER: 10601669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 3,214,473 3,273,565
Directors' loan accounts 366,355 266,355
3,580,828 3,539,920

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,289,391 3,348,483

Cynergy Bank, Landbay, Paragon and Quantum Mortgages holds security in the form of charges over the company's investment properties.

9. PROVISIONS FOR LIABILITIES
2024
£   
Deferred tax 141,446

Deferred
tax
£   
Balance at 1st April 2023 (141,033 )
Provided during year 282,479
Balance at 31st March 2024 141,446

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary A 1 1,000 1,000
100 Ordinary B 1 100 100
1,100 1,100

CHARLOTTE STREET PROPERTY COMPANY
LIMITED (REGISTERED NUMBER: 10601669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

11. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1st April 2023 77,724 3,560,873 - 3,638,597
Profit for the year 1,121,108 1,121,108
Dividends (100,000 ) (100,000 )
Deferred tax transfer 282,478 - (282,478 ) -
Revaluation transfer (1,200,000 ) - 1,200,000 -
At 31st March 2024 181,310 3,560,873 917,522 4,659,705