Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Alan Brian Macaulay 23/01/2019 Tracey Elizabeth Macaulay 23/01/2019 02 September 2024 The principal activity of the company during the year continued to be that of property letting. SC618941 2024-01-31 SC618941 bus:Director1 2024-01-31 SC618941 bus:Director2 2024-01-31 SC618941 2023-01-31 SC618941 core:CurrentFinancialInstruments 2024-01-31 SC618941 core:CurrentFinancialInstruments 2023-01-31 SC618941 core:Non-currentFinancialInstruments 2024-01-31 SC618941 core:Non-currentFinancialInstruments 2023-01-31 SC618941 core:ShareCapital 2024-01-31 SC618941 core:ShareCapital 2023-01-31 SC618941 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC618941 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC618941 2022-01-31 SC618941 bus:OrdinaryShareClass1 2024-01-31 SC618941 bus:OrdinaryShareClass2 2024-01-31 SC618941 bus:OrdinaryShareClass3 2024-01-31 SC618941 bus:OrdinaryShareClass4 2024-01-31 SC618941 bus:OrdinaryShareClass5 2024-01-31 SC618941 2023-02-01 2024-01-31 SC618941 bus:FilletedAccounts 2023-02-01 2024-01-31 SC618941 bus:SmallEntities 2023-02-01 2024-01-31 SC618941 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC618941 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC618941 bus:Director1 2023-02-01 2024-01-31 SC618941 bus:Director2 2023-02-01 2024-01-31 SC618941 2022-02-01 2023-01-31 SC618941 core:CurrentFinancialInstruments 2023-02-01 2024-01-31 SC618941 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 SC618941 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC618941 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 SC618941 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 SC618941 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 SC618941 bus:OrdinaryShareClass3 2023-02-01 2024-01-31 SC618941 bus:OrdinaryShareClass3 2022-02-01 2023-01-31 SC618941 bus:OrdinaryShareClass4 2023-02-01 2024-01-31 SC618941 bus:OrdinaryShareClass4 2022-02-01 2023-01-31 SC618941 bus:OrdinaryShareClass5 2023-02-01 2024-01-31 SC618941 bus:OrdinaryShareClass5 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC618941 (Scotland)

CHAAT PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

CHAAT PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024

Contents

CHAAT PROPERTIES LTD

BALANCE SHEET

AS AT 31 JANUARY 2024
CHAAT PROPERTIES LTD

BALANCE SHEET (continued)

AS AT 31 JANUARY 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 80,788 80,788
80,788 80,788
Current assets
Debtors 4 92 600
Cash at bank and in hand 21,802 23,306
21,894 23,906
Creditors: amounts falling due within one year 5 ( 88,247) ( 88,555)
Net current liabilities (66,353) (64,649)
Total assets less current liabilities 14,435 16,139
Creditors: amounts falling due after more than one year 6 ( 5,537) ( 9,602)
Provision for liabilities 7, 8 0 ( 10)
Net assets 8,898 6,527
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 8,798 6,427
Total shareholders' funds 8,898 6,527

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Chaat Properties Ltd (registered number: SC618941) were approved and authorised for issue by the Board of Directors on 02 September 2024. They were signed on its behalf by:

Tracey Elizabeth Macaulay
Director
CHAAT PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
CHAAT PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chaat Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Klein Brak Lodge, Finavon, Forfar, DD8 3PW, United Kingdom.

The financial statements have been prepared under the historical cost convention and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the rental income from that of a rental property.

Turnover is recognised when the company has entitlement to the income in exchange for the provision of services.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 February 2023 80,788
As at 31 January 2024 80,788

Valuation

The directors have assessed the fair value of the investment property at 31 January 2024 and believe that there is no material change from the prior period.

4. Debtors

2024 2023
£ £
Other debtors 92 600

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 4,066 3,966
Taxation and social security 554 85
Other creditors 83,627 84,504
88,247 88,555

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 5,537 9,602

There are no amounts included above in respect of which any security has been given by the small entity.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 0 10

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 10) 0
Credited/(charged) to the Profit and Loss Account 10 ( 10)
At the end of financial year 0 ( 10)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
35 A ordinary shares of £ 1.00 each 35 35
35 B ordinary shares of £ 1.00 each 35 35
10 C ordinary shares of £ 1.00 each 10 10
10 D ordinary shares of £ 1.00 each 10 10
10 E ordinary shares of £ 1.00 each 10 10
100 100