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REGISTERED NUMBER: 03620334 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

CHURCHGATE INVESTMENTS (U.K.) LIMITED

CHURCHGATE INVESTMENTS (U.K.) LIMITED (REGISTERED NUMBER: 03620334)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CHURCHGATE INVESTMENTS (U.K.) LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J E Billingham



SECRETARY: D Billingham



REGISTERED OFFICE: c/o BTMR Limited
Century Buildings
14 St. Mary's Parsonage
Manchester
M3 2DF



REGISTERED NUMBER: 03620334 (England and Wales)



ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Barclays Bank Plc
25 James Street
Harrogate
North Yorkshire
HG1 1QX

CHURCHGATE INVESTMENTS (U.K.) LIMITED (REGISTERED NUMBER: 03620334)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 756,237 757,165

CURRENT ASSETS
Debtors 5 241,112 239,213
Cash at bank 7,357 4,013
248,469 243,226
CREDITORS
Amounts falling due within one year 6 546,447 512,303
NET CURRENT LIABILITIES (297,978 ) (269,077 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

458,259

488,088

CREDITORS
Amounts falling due after more than one
year

7

220,000

260,000
NET ASSETS 238,259 228,088

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 238,255 228,084
SHAREHOLDERS' FUNDS 238,259 228,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





J E Billingham - Director


CHURCHGATE INVESTMENTS (U.K.) LIMITED (REGISTERED NUMBER: 03620334)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Churchgate Investments (U.K.) 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.

Turnover
Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 750,978 29,935 1,382 782,295
DEPRECIATION
At 1 January 2023 - 23,748 1,382 25,130
Charge for year - 928 - 928
At 31 December 2023 - 24,676 1,382 26,058
NET BOOK VALUE
At 31 December 2023 750,978 5,259 - 756,237
At 31 December 2022 750,978 6,187 - 757,165

CHURCHGATE INVESTMENTS (U.K.) LIMITED (REGISTERED NUMBER: 03620334)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 24,970 28,846
Amounts owed by related parties 207,990 196,656
Other debtors 8,152 13,711
241,112 239,213

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 40,000 40,000
Trade creditors 1,675 9,602
Amounts owed to related parties 9,518 9,518
Taxation and social security 20,598 13,419
Other creditors 474,656 439,764
546,447 512,303

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 220,000 260,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 60,000 100,000

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 260,000 300,000

Bank loan balances are secured by a fixed charge over land owned by the company at 32 George Street Birmingham and floating charge over other assets of the company.

Additionally, bank debt is secured by way of a debenture in the bank's standard form. The company has also granted a cross guarantee in favour of monies owed to the bank by Churchgate Commercial Holdings Limited, Prosperity Wealth Secured Loan Note Limited, Prosperity Living Limited (formerly PDC Investments UK Limited) and Prosperity Wealth Group Limited, companies that are under common control and ownership.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Billingham by virtue of his 100% shareholding.