Company Registration No. 03535938 (England and Wales)
CHESHIRE PROPERTY COMPANY LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2023
30 November 2023
PAGES FOR FILING WITH REGISTRAR
CHESHIRE PROPERTY COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
CHESHIRE PROPERTY COMPANY LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
333
426
Investment properties
4
125,000
125,000
125,333
125,426
Current assets
Debtors
5
1,658
1,658
Cash at bank and in hand
8,009
3,647
9,667
5,305
Creditors: amounts falling due within one year
6
(11,164)
(11,626)
Net current liabilities
(1,497)
(6,321)
Total assets less current liabilities
123,836
119,105
Creditors: amounts falling due after more than one year
7
(85,015)
(84,381)
Provisions for liabilities
(19,880)
(19,880)
Net assets
18,941
14,844
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
18,841
14,744
Total equity
18,941
14,844
CHESHIRE PROPERTY COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 August 2024 and are signed on its behalf by:
Mr P Faulkner
Director
Company Registration No. 03535938
CHESHIRE PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information
Cheshire Property Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 52 Charlecote Road, Poynton, Stockport, Cheshire, United Kingdom, SK12 1DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, being that of property rental, inspection and mortgage underwriting.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
33 1/3% reducing balance basis
Fixtures, fittings & equipment
20% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
CHESHIRE PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 and 30 November 2023
4,818
Depreciation and impairment
At 1 December 2022
4,392
Depreciation charged in the year
94
At 30 November 2023
4,486
Carrying amount
At 30 November 2023
332
At 30 November 2022
426
4
Investment property
2023
£
Fair value
At 1 December 2022 and 30 November 2023
125,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director .The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,658
1,658
CHESHIRE PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,540
3,540
Corporation tax
100
100
Other creditors
7,524
7,986
11,164
11,626
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
85,015
84,381