Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-302023-12-3012022-12-31falseNo description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02245802 2022-12-31 2023-12-30 02245802 2021-12-31 2022-12-30 02245802 2023-12-30 02245802 2022-12-30 02245802 2021-12-31 02245802 c:Director1 2022-12-31 2023-12-30 02245802 d:OfficeEquipment 2022-12-31 2023-12-30 02245802 d:OfficeEquipment 2023-12-30 02245802 d:OfficeEquipment 2022-12-30 02245802 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-31 2023-12-30 02245802 d:FreeholdInvestmentProperty 2023-12-30 02245802 d:FreeholdInvestmentProperty 2022-12-30 02245802 d:CurrentFinancialInstruments 2023-12-30 02245802 d:CurrentFinancialInstruments 2022-12-30 02245802 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-30 02245802 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-30 02245802 d:ShareCapital 2023-12-30 02245802 d:ShareCapital 2022-12-30 02245802 d:RetainedEarningsAccumulatedLosses 2023-12-30 02245802 d:RetainedEarningsAccumulatedLosses 2022-12-30 02245802 c:FRS102 2022-12-31 2023-12-30 02245802 c:AuditExempt-NoAccountantsReport 2022-12-31 2023-12-30 02245802 c:FullAccounts 2022-12-31 2023-12-30 02245802 c:PrivateLimitedCompanyLtd 2022-12-31 2023-12-30 02245802 d:AcceleratedTaxDepreciationDeferredTax 2023-12-30 02245802 d:AcceleratedTaxDepreciationDeferredTax 2022-12-30 02245802 d:TaxLossesCarry-forwardsDeferredTax 2023-12-30 02245802 d:TaxLossesCarry-forwardsDeferredTax 2022-12-30 02245802 e:PoundSterling 2022-12-31 2023-12-30 iso4217:GBP xbrli:pure

Registered number: 02245802









CHESTNUT (LB) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 DECEMBER 2023

 
CHESTNUT (LB) LIMITED
REGISTERED NUMBER: 02245802

BALANCE SHEET
AS AT 30 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
768
1,180

Investment property
 5 
970,000
970,000

  
970,768
971,180

Current assets
  

Debtors: amounts falling due within one year
 6 
194
130

Cash at bank and in hand
 7 
17,004
58,259

  
17,198
58,389

Creditors: amounts falling due within one year
 8 
(234,705)
(298,810)

Net current liabilities
  
 
 
(217,507)
 
 
(240,421)

Total assets less current liabilities
  
753,261
730,759

Provisions for liabilities
  

Deferred tax
 10 
(52,597)
(52,519)

Net assets
  
700,664
678,240


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
699,664
677,240

  
700,664
678,240


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
CHESTNUT (LB) LIMITED
REGISTERED NUMBER: 02245802
    
BALANCE SHEET (CONTINUED)
AS AT 30 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
T R Dell
Director
Date: 10 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CHESTNUT (LB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

1.


General information

Chestnut (LB) Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Home Barn, Grove, Leighton Buzzard, Bedfordshire, LU7 0QU.
The Company's principal activity is that of rental of both private and commercial properties.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
CHESTNUT (LB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
CHESTNUT (LB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
CHESTNUT (LB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 31 December 2022
2,289



At 30 December 2023

2,289



Depreciation


At 31 December 2022
1,109


Charge for the year on owned assets
412



At 30 December 2023

1,521



Net book value



At 30 December 2023
768



At 30 December 2022
1,180


5.


Investment property


Freehold investment property

£



Valuation


At 31 December 2022
970,000



At 30 December 2023
970,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
645,905
645,905

Page 6

 
CHESTNUT (LB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Prepayments and accrued income
194
130



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
17,004
58,259



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
220,000

Trade creditors
-
2,400

Corporation tax
4,134
11,429

Other creditors
227,931
62,341

Accruals and deferred income
2,640
2,640

234,705
298,810



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
220,000




Page 7

 
CHESTNUT (LB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
52,519
55,518


Charged to profit or loss
78
(2,999)



At end of year
52,597
52,519

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(146)
(224)

Surplus on revaluation
52,743
52,743

52,597
52,519

 
Page 8