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REGISTERED NUMBER: 05075820 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CHARING VALE LIMITED

CHARING VALE LIMITED (REGISTERED NUMBER: 05075820)

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 VALE LIMITED (REGISTERED NUMBER: 05075820)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 565,119 583,084
565,120 583,085

CURRENT ASSETS
Debtors 7 93,944 89,538
Cash at bank and in hand 752,272 632,876
846,216 722,414
CREDITORS
Amounts falling due within one year 8 244,411 193,424
NET CURRENT ASSETS 601,805 528,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,166,925

1,112,075

CREDITORS
Amounts falling due after more than one
year

9

(69,667

)

(113,667

)

PROVISIONS FOR LIABILITIES 11 (6,470 ) (6,527 )
NET ASSETS 1,090,788 991,881

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 1,090,688 991,781
SHAREHOLDERS' FUNDS 1,090,788 991,881

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 VALE LIMITED (REGISTERED NUMBER: 05075820)

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


1. STATUTORY INFORMATION

Charing Vale 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: 05075820

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 VALE LIMITED (REGISTERED NUMBER: 05075820)

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 Directors decision to allow the company to continue to trade under the circumstances.

Thus the Directors continue 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 23 (2022 - 21 ) .

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

6,480

6,000

CHARING VALE LIMITED (REGISTERED NUMBER: 05075820)

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


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold and
property equipment Totals
£    £    £   
COST
At 1 January 2023 1,130,700 197,853 1,328,553
Additions - 7,044 7,044
At 31 December 2023 1,130,700 204,897 1,335,597
DEPRECIATION
At 1 January 2023 575,422 170,047 745,469
Charge for year 16,296 8,713 25,009
At 31 December 2023 591,718 178,760 770,478
NET BOOK VALUE
At 31 December 2023 538,982 26,137 565,119
At 31 December 2022 555,278 27,806 583,084

Included in the cost of Freehold Property are qualifying Plant and Machinery of £322,528 professionally valued in accordance with the Capital Allowances Act 1999 and 2001.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,880 6,538
Amounts owed by connected undertakings 80,000 80,000
Other debtors 3,064 3,000
93,944 89,538

CHARING VALE LIMITED (REGISTERED NUMBER: 05075820)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 44,000 44,000
Trade creditors 18,456 17,775
Amounts owed to group undertakings 12,794 -
Taxation and social security 52,189 21,528
Other creditors 116,972 110,121
244,411 193,424

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 69,667 113,667

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 44,000 44,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 44,000 44,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 25,667 69,667

The Coronavirus Business Interruption Loan Scheme (CBILS) loan of £113,667 (2022: £157,667) and is repayable over the period until June 2026.

The rate of interest payable on the debt is 3.05% per annum over the Bank Base Rate.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,470 6,527

Deferred
tax
£   
Balance at 1 January 2023 6,527
Provided during year (57 )
Balance at 31 December 2023 6,470

CHARING VALE LIMITED (REGISTERED NUMBER: 05075820)

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


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 991,781
Profit for the year 98,907
At 31 December 2023 1,090,688

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

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(12,794)-
Amounts owed by Connected Undertakings80,00080,000

20232022
£   £   
Management services charged by Group Undertakings27,00022,800


Related Party Relationship:

Group Undertakings:
Charing Gardens Limited
Charing Park Investments Limited

Connected Undertakings:
CHC Assets Limited

Connected Undertakings
A company having the same or predominantly the same shareholders and or Board of Directors but which neither is a parent, subsidiary, fellow subsidiary nor associated company.

CHARING VALE LIMITED (REGISTERED NUMBER: 05075820)

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


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.