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REGISTERED NUMBER: 02244344 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CHARING PARK INVESTMENTS LIMITED

CHARING PARK INVESTMENTS LIMITED (REGISTERED NUMBER: 02244344)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 2


CHARING PARK INVESTMENTS LIMITED (REGISTERED NUMBER: 02244344)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,332,243 883,130

CURRENT ASSETS
Debtors 6 66,967 14,466
Cash at bank 52,736 372,510
119,703 386,976
CREDITORS
Amounts falling due within one year 7 535,224 297,677
NET CURRENT (LIABILITIES)/ASSETS (415,521 ) 89,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

916,722

972,429

CREDITORS
Amounts falling due after more than one
year

8

(891,885

)

(1,019,719

)

PROVISIONS FOR LIABILITIES 11 (129,948 ) (34,483 )
NET LIABILITIES (105,111 ) (81,773 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 (105,211 ) (81,873 )
SHAREHOLDERS' FUNDS (105,111 ) (81,773 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





C Osman - Director


CHARING PARK INVESTMENTS LIMITED (REGISTERED NUMBER: 02244344)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Charing Park Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02244344

Registered office: 368 Forest Road
London
E17 5JF

The presentation currency of the financial statements is the Pound Sterling (£).


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 recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised.

Care related services

Turnover from a contract to provide care related services is recognised in the period in which services are provided on an accruals basis. Turnover recognised is dependent upon the type of care and funding that a resident receives. Any fees invoiced in advance are included within deferred income until the service is completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Fixtures, fittings and equipment - 25% on reducing balance

Financial instruments
The Company only enters into basic financial instruments 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 and loans to related parties.

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


CHARING PARK INVESTMENTS LIMITED (REGISTERED NUMBER: 02244344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company continues with the support of it's immediate and ultimate parent company Charing Care Limited which will not allow any of it's creditors to suffer as a result of the Director's decision to allow the company to continue to trade under the circumstances.

Thus the Director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 36 ) .

4. AUDITORS' REMUNERATION
2023 2022
£    £   
Fees payable to the Company's auditors for the audit of the Company's
financial statements

6,960

6,600

CHARING PARK INVESTMENTS LIMITED (REGISTERED NUMBER: 02244344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold and
property equipment Totals
£    £    £   
COST
At 1 January 2023 1,596,935 469,382 2,066,317
Additions 468,248 41,887 510,135
At 31 December 2023 2,065,183 511,269 2,576,452
DEPRECIATION
At 1 January 2023 771,640 411,547 1,183,187
Charge for year 36,091 24,931 61,022
At 31 December 2023 807,731 436,478 1,244,209
NET BOOK VALUE
At 31 December 2023 1,257,452 74,791 1,332,243
At 31 December 2022 825,295 57,835 883,130

Included in the cost of Freehold Property are qualifying Plant and Machinery of £636,740 (2022: £390,732) professionally valued in accordance with the Capital Allowances Act 1999 and 2001.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 50,381 10,713
Amounts owed by group undertakings 12,794 -
Other debtors 3,792 3,753
66,967 14,466

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 193,975 162,314
Trade creditors 28,530 39,495
Amounts owed to group undertakings 178,771 -
Taxation and social security 13,229 (3,624 )
Other creditors 120,719 99,492
535,224 297,677

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 891,885 1,019,719

CHARING PARK INVESTMENTS LIMITED (REGISTERED NUMBER: 02244344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 187,626 401,087

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 193,975 162,314

Amounts falling due between one and two years:
Bank loans - 1-2 years 193,975 162,314

Amounts falling due between two and five years:
Bank loans - 2-5 years 510,284 456,318

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 187,626 401,087

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 1,085,859 1,182,033

The bank loans are secured by way of a fixed charge over its freehold property shown in tangible fixed assets note and a fixed and floating charge over all assets of the company.

Loan 1:

The bank loan of £927,500 (2022: £982,658) is repayable over the period until November 2032. The rate of interest payable on the debt is 3.50% per annum over the Bank Base Rate.

Loan 2:

The Coronavirus Business Interruption Loan Scheme loan of £158,360 (2022: £199,375) is repayable over the period until April 2027.

The rate of interest payable on the debt is 3.53% per annum over the Floating Rate.

CHARING PARK INVESTMENTS LIMITED (REGISTERED NUMBER: 02244344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 129,948 34,483

Deferred
tax
£   
Balance at 1 January 2023 34,483
Provided during year 95,465
Balance at 31 December 2023 129,948

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 January 2023 (81,873 )
Deficit for the year (23,338 )
At 31 December 2023 (105,211 )

14. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Jeffrey Klein (Senior Statutory Auditor)
for and on behalf of Klein Evangelou

CHARING PARK INVESTMENTS LIMITED (REGISTERED NUMBER: 02244344)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


15. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

20232022
£   £   
Amounts owed to Group Undertakings(178,771)-
Amounts owed by Group Undertakings12,794-

20232022
£   £   
Management services charged by Group Undertakings46,12838,952


Related Party Relationship:

Group Undertakings:
Charing Gardens Limited
Charing Vale Limited

16. POST BALANCE SHEET EVENTS

No significant events are noted after the period ended 31 December 2023 to the date of signing this report.

17. CONTROLLING PARTY

The immediate and ultimate parent undertaking is Charing Care Limited, which prepares group financial
statements.

The registered office of Charing Care Limited is 368 Forest Road, London, E17 5JF.