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REGISTERED NUMBER: 11956049 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CHELICO HOLDINGS LTD

CHELICO HOLDINGS LTD (REGISTERED NUMBER: 11956049)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHELICO HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R A J Cousins
A E G Cousins
R J A Cousins
A R G Cousins





REGISTERED OFFICE: Five Ways
57/59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS





REGISTERED NUMBER: 11956049 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS

CHELICO HOLDINGS LTD (REGISTERED NUMBER: 11956049)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 68,624 89,249
Investments 5 1,280 1,280
Investment property 6 8,200,000 8,200,000
8,269,904 8,290,529

CURRENT ASSETS
Debtors 7 3,037,375 2,375,362
Cash at bank 418,468 1,508,787
3,455,843 3,884,149
CREDITORS
Amounts falling due within one year 8 196,859 313,592
NET CURRENT ASSETS 3,258,984 3,570,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,528,888

11,861,086

PROVISIONS FOR LIABILITIES 826,899 562,291
NET ASSETS 10,701,989 11,298,795

CAPITAL AND RESERVES
Called up share capital 2,560 2,560
Fair value reserve 9 7,497,782 7,762,389
Retained earnings 3,201,647 3,533,846
SHAREHOLDERS' FUNDS 10,701,989 11,298,795

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

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

CHELICO HOLDINGS LTD (REGISTERED NUMBER: 11956049)

BALANCE SHEET - continued
31 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 4 September 2024 and were signed on its behalf by:





A E G Cousins - Director


CHELICO HOLDINGS LTD (REGISTERED NUMBER: 11956049)

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

1. STATUTORY INFORMATION

Chelico Holdings 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
The investment of £1,280 relates to a 100% ownership in Cousins Holdings Ltd for 1,280 shares.

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.

CHELICO HOLDINGS LTD (REGISTERED NUMBER: 11956049)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 157,442 12,827 170,269
Additions - 4,185 4,185
At 31 March 2024 157,442 17,012 174,454
DEPRECIATION
At 1 April 2023 71,961 9,059 81,020
Charge for year 21,370 3,440 24,810
At 31 March 2024 93,331 12,499 105,830
NET BOOK VALUE
At 31 March 2024 64,111 4,513 68,624
At 31 March 2023 85,481 3,768 89,249

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1,280
NET BOOK VALUE
At 31 March 2024 1,280
At 31 March 2023 1,280

CHELICO HOLDINGS LTD (REGISTERED NUMBER: 11956049)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 8,200,000
NET BOOK VALUE
At 31 March 2024 8,200,000
At 31 March 2023 8,200,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2014 1,455,072
Valuation in 2016 1,662,135
Valuation in 2017 1,222,376
Valuation in 2018 959,329
Cost 2,901,088
8,200,000

The directors have given due consideration to the present value of the investment property and confirm that the current market value as at 31st March 2024 is £8,200,000.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,041 22,196
Amounts owed by group undertakings 3,006,863 2,346,863
Other debtors 8,471 6,303
3,037,375 2,375,362

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,066 4,295
Taxation and social security 61,600 76,454
Other creditors 128,193 232,843
196,859 313,592

CHELICO HOLDINGS LTD (REGISTERED NUMBER: 11956049)

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

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023 7,762,389
Non distributable reserve (264,607 )

At 31 March 2024 7,497,782

The non distributable reserve movement is made up of the deferred tax calculated during the year.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31st March 2024, within Other Creditors, the company owed Mr A E G Cousins £312, Mr R A J Cousins £936, Mr R J A Cousins £10,936 and Mr A R G Cousins £10,936.

11. RELATED PARTY DISCLOSURES

The following amount is owed from an associated company as at 31st March 2024:

Cousins Holdings Limited: As at 31st March 2024 £1,397,363 (2023: £1,397,363)
Elgor Limited: As at 31st March 2024 £1,609,500 (2023: £949,500)

12. ULTIMATE CONTROLLING PARTY

The company is owned in equal shares by the brothers, A R G Cousins, R J A Cousins, and R A J Cousin.