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REGISTERED NUMBER: 04554917 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CHARING HILL LIMITED

CHARING HILL LIMITED (REGISTERED NUMBER: 04554917)

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 HILL LIMITED (REGISTERED NUMBER: 04554917)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 2,150,400 2,107,056
2,150,400 2,107,056

CURRENT ASSETS
Debtors 7 3,051,943 1,674,118
Cash at bank and in hand 2,657,977 4,118,198
5,709,920 5,792,316
CREDITORS
Amounts falling due within one year 8 633,149 499,694
NET CURRENT ASSETS 5,076,771 5,292,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,227,171

7,399,678

CREDITORS
Amounts falling due after more than one
year

9

(2,420,210

)

(2,488,537

)

PROVISIONS FOR LIABILITIES 12 (71,267 ) (68,208 )
NET ASSETS 4,735,694 4,842,933

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 4,735,594 4,842,833
SHAREHOLDERS' FUNDS 4,735,694 4,842,933

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 HILL LIMITED (REGISTERED NUMBER: 04554917)

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


1. STATUTORY INFORMATION

Charing Hill 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: 04554917

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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 - 2% on cost
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 HILL LIMITED (REGISTERED NUMBER: 04554917)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2022 - 47 ) .

4. AUDITORS' REMUNERATION
Period
1.7.22
Year Ended to
31.12.23 31.12.22
£    £   
Fees payable to the Company's auditors for the audit of the Company's
financial statements

8,400

7,680

CHARING HILL LIMITED (REGISTERED NUMBER: 04554917)

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 296,000
AMORTISATION
At 1 January 2023
and 31 December 2023 296,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold and
property equipment Totals
£    £    £   
COST
At 1 January 2023 3,076,703 591,159 3,667,862
Additions 98,043 37,186 135,229
At 31 December 2023 3,174,746 628,345 3,803,091
DEPRECIATION
At 1 January 2023 1,046,020 514,786 1,560,806
Charge for year 63,495 28,390 91,885
At 31 December 2023 1,109,515 543,176 1,652,691
NET BOOK VALUE
At 31 December 2023 2,065,231 85,169 2,150,400
At 31 December 2022 2,030,683 76,373 2,107,056

Included in the cost of Freehold Property are qualifying Plant and Machinery of £687,109 professionally valued in accordance with the Capital Allowances Act 2001.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 39,728 21,918
Amounts owed by connected undertakings 3,009,636 1,650,000
Other debtors 2,579 2,200
3,051,943 1,674,118

CHARING HILL LIMITED (REGISTERED NUMBER: 04554917)

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) 183,612 183,612
Trade creditors 10,017 16,110
Taxation and social security 202,154 113,706
Other creditors 237,366 186,266
633,149 499,694

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 2,420,210 2,488,537

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,685,762 1,754,089

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 183,612 183,612

Amounts falling due between one and two years:
Bank loans - 1-2 years 183,612 183,612

Amounts falling due between two and five years:
Bank loans - 2-5 years 550,836 550,836

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,685,762 1,754,089

CHARING HILL LIMITED (REGISTERED NUMBER: 04554917)

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


11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 2,603,822 2,672,149

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.

The bank loan of £2,603,822 (2022:£2,672,149) is repayable over the period until August 2042. The rate of interest payable on the debt is 2.00% per annum over the Bank Base Rate.

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 71,267 68,208

Deferred
tax
£   
Balance at 1 January 2023 68,208
Charge to Statement of Income and Retained Earnings during year 3,059
Balance at 31 December 2023 71,267

13. CALLED UP SHARE CAPITAL

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

14. RESERVES
Retained
earnings
£   

At 1 January 2023 4,842,833
Profit for the year 536,411
Dividends (643,650 )
At 31 December 2023 4,735,594

CHARING HILL LIMITED (REGISTERED NUMBER: 04554917)

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


15. 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

16. RELATED PARTY DISCLOSURES

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

2023 2022
£    £   
Amounts owed by Connected Undertakings 3,009,636 1,650,000

2023 2022
£    £   
Management services charged by Connected Undertakings 63,000 53,196


Related Party Relationship:

Connected Undertakings
Charing Gardens Limited
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.

17. POST BALANCE SHEET EVENTS

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

18. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C Osman.