0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 324,939 324,939 324,939 xbrli:pure xbrli:shares iso4217:GBP 9996048 2023-01-01 2023-12-31 9996048 2023-12-31 9996048 2022-12-31 9996048 2022-01-01 2022-12-31 9996048 2022-12-31 9996048 2021-12-31 9996048 bus:Director1 2023-01-01 2023-12-31 9996048 core:WithinOneYear 2023-12-31 9996048 core:WithinOneYear 2022-12-31 9996048 core:AfterOneYear 2023-12-31 9996048 core:AfterOneYear 2022-12-31 9996048 core:ShareCapital 2023-12-31 9996048 core:ShareCapital 2022-12-31 9996048 core:SharePremium 2023-12-31 9996048 core:SharePremium 2022-12-31 9996048 core:RetainedEarningsAccumulatedLosses 2023-12-31 9996048 core:RetainedEarningsAccumulatedLosses 2022-12-31 9996048 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 9996048 core:Non-currentFinancialInstruments 2023-12-31 9996048 core:Non-currentFinancialInstruments 2022-12-31 9996048 bus:SmallEntities 2023-01-01 2023-12-31 9996048 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 9996048 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 9996048 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 9996048 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 9996048
CHELSEA REAL PROPERTIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
CHELSEA REAL PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
324,939
324,939
Current assets
Debtors
5
315,990
367,300
Cash at bank and in hand
81
73
----------
----------
316,071
367,373
Creditors: amounts falling due within one year
6
447,773
491,393
----------
----------
Net current liabilities
131,702
124,020
----------
----------
Total assets less current liabilities
193,237
200,919
Creditors: amounts falling due after more than one year
7
30,093
35,649
----------
----------
Net assets
163,144
165,270
----------
----------
Capital and reserves
Called up share capital
100
100
Share premium account
159,670
159,670
Profit and loss account
3,374
5,500
----------
----------
Shareholders funds
163,144
165,270
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CHELSEA REAL PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 18 September 2024 , and are signed on behalf of the board by:
A Shaikh
Director
Company registration number: 9996048
CHELSEA REAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Century House, 100 Menzies Road, Hastings, TN38 9BB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Going concern
In accordance with the director's responsibilities, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the director has considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The director has reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis in preparing these financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
4. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
324,939
----------
Impairment
At 1 January 2023 and 31 December 2023
----------
Carrying amount
At 31 December 2023
324,939
----------
At 31 December 2022
324,939
----------
5. Debtors
2023
2022
£
£
Amounts due from related parties
315,900
367,300
Other debtors
90
----------
----------
315,990
367,300
----------
----------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,556
5,556
Trade creditors
29
Accruals and deferred income
534
250
Other creditors
29,999
30,000
Amounts owed to related parties
411,684
455,558
----------
----------
447,773
491,393
----------
----------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
30,093
35,649
---------
---------
IIncluded within creditors: amounts falling due after more than one year is an amount of £7,870 (2022: £13,426) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8. Related party transactions
At 31 December 2023, creditors, amounts falling due within one year, included amounts owed to related parties amounting to £169,506 (2022: £210,709), in respect of a director's loan account. The loan is interest free, unsecured and repayable on demand. At 31 December 2023, creditors, amounts falling due within one year, included amounts owed to related parties amounting to £242,178 (2022: £244,849), in respect of amounts owed to companies under common control and connected individuals. The loans are interest free, unsecured and repayable on demand. At 31 December 2023, debtors, amounts falling due within one year, included amounts owed by related parties amounting to £315,900 (2022: £367,300). The company is exempt from disclosing related party transactions with other companies that are wholly owned within the group.