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REGISTERED NUMBER: 09331026 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Choice Housing Limited

Choice Housing Limited (Registered number: 09331026)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 4


Choice Housing Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R W Mellors
Miss A E Mellors





REGISTERED OFFICE: Turbine Business Centre
Coach Close
Shireoaks
Worksop
Nottinghamshire
S81 8AP





REGISTERED NUMBER: 09331026 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Choice Housing Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Choice Housing Limited for the year ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Choice Housing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Choice Housing Limited and state those matters that we have agreed to state to the Board of Directors of Choice Housing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Choice Housing Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Choice Housing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Choice Housing Limited. You consider that Choice Housing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Choice Housing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES


1 October 2024

Choice Housing Limited (Registered number: 09331026)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,396 1,274
Investment property 5 185,000 175,765
201,396 177,039

CURRENT ASSETS
Debtors 6 94,764 83,339
Cash at bank 60,613 6,290
155,377 89,629
CREDITORS
Amounts falling due within one year 7 67,307 63,950
NET CURRENT ASSETS 88,070 25,679
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,466

202,718

CREDITORS
Amounts falling due after more than one
year

8

(12,231

)

(22,435

)

PROVISIONS FOR LIABILITIES (10,202 ) (6,492 )
NET ASSETS 267,033 173,791

RESERVES
Fair value reserve 9 25,676 18,750
Income and expenditure account 241,357 155,041
267,033 173,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:




R W Mellors - Director


Choice Housing Limited (Registered number: 09331026)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Choice Housing Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit.

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Choice Housing Limited (Registered number: 09331026)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 6,316 1,778 2,119 10,213
Additions 10,915 4,965 2,525 18,405
At 31 March 2024 17,231 6,743 4,644 28,618
DEPRECIATION
At 1 April 2023 6,316 1,677 946 8,939
Charge for year 1,092 1,267 924 3,283
At 31 March 2024 7,408 2,944 1,870 12,222
NET BOOK VALUE
At 31 March 2024 9,823 3,799 2,774 16,396
At 31 March 2023 - 101 1,173 1,274

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 175,765
Revaluations 9,235
At 31 March 2024 185,000
NET BOOK VALUE
At 31 March 2024 185,000
At 31 March 2023 175,765

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 20,000
Valuation in 2023 5,000
Valuation in 2024 9,235
Cost 150,765
185,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 150,765 150,765

Investment property was valued on an open market basis on 31 March 2024 by the director .

Choice Housing Limited (Registered number: 09331026)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 77,681 71,323
Other debtors 17,083 12,016
94,764 83,339

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,204 9,952
Trade creditors 15,778 23,069
Taxation and social security 25,187 11,601
Other creditors 16,138 19,328
67,307 63,950

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,231 22,435

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023 18,750
Property revaluation 9,235
Deferred tax movement (2,309 )

At 31 March 2024 25,676