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REGISTERED NUMBER: 09949528 (England and Wales)















CHATTERTONS PROFESSIONAL SERVICES
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






CHATTERTONS PROFESSIONAL SERVICES
LIMITED (REGISTERED NUMBER: 09949528)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


CHATTERTONS PROFESSIONAL SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: E F Conway
R R Ludlow



REGISTERED OFFICE: 5 South Street
Horncastle
Lincolnshire
LN9 6DS



REGISTERED NUMBER: 09949528 (England and Wales)



SENIOR STATUTORY AUDITOR: Tara Bellamy FCA



AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

CHATTERTONS PROFESSIONAL SERVICES
LIMITED (REGISTERED NUMBER: 09949528)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 350,000 490,000
Tangible assets 5 1,524,096 1,559,483
1,874,096 2,049,483

CURRENT ASSETS
Debtors 6 678,433 165,053

CREDITORS
Amounts falling due within one year 7 1,286,638 1,207,115
NET CURRENT LIABILITIES (608,205 ) (1,042,062 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,265,891 1,007,421

CREDITORS
Amounts falling due after more than one year 8 (363,037 ) (110,777 )

PROVISIONS FOR LIABILITIES (16,556 ) (16,556 )
NET ASSETS 886,298 880,088

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 886,297 880,087
SHAREHOLDERS' FUNDS 886,298 880,088

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 30 September 2024 and were signed on its behalf by:





R R Ludlow - Director


CHATTERTONS PROFESSIONAL SERVICES
LIMITED (REGISTERED NUMBER: 09949528)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

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

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, 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.
Land and buildings - 2% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

CHATTERTONS PROFESSIONAL SERVICES
LIMITED (REGISTERED NUMBER: 09949528)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Management charge
Management charge income is recognised on an arm's length basis.

Interest
Interest income is recognised using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 1,400,000
AMORTISATION
At 1 May 2023 910,000
Charge for year 140,000
At 30 April 2024 1,050,000
NET BOOK VALUE
At 30 April 2024 350,000
At 30 April 2023 490,000

5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 May 2023
and 30 April 2024 1,769,342
DEPRECIATION
At 1 May 2023 209,859
Charge for year 35,387
At 30 April 2024 245,246
NET BOOK VALUE
At 30 April 2024 1,524,096
At 30 April 2023 1,559,483

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 662,000 161,000
Other debtors 16,433 4,053
678,433 165,053

CHATTERTONS PROFESSIONAL SERVICES
LIMITED (REGISTERED NUMBER: 09949528)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Amounts owed by group undertakings that are due within one year are unsecured, repayable on demand and interest free.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,056,001 1,070,545
Taxation and social security 63,700 44,037
Other creditors 166,937 92,533
1,286,638 1,207,115

Amounts owed to group undertakings that are due within one year are unsecured, repayable on demand and interest free.

Interest on directors' account balances is awarded at 5% above the Bank of England base rate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 363,037 110,777

Interest on directors' account balances is awarded at 5% above the Bank of England base rate.

9. SECURED DEBTS

There are fixed and floating charges over the freehold property of the company held by NatWest Bank Plc.

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value £    £   

1 Ordinary £1 1 1
1 1

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

The Report of the Auditors was unqualified.

Tara Bellamy FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

12. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 99,000 -

13. POST BALANCE SHEET EVENTS

On 28 May 2024, the company exchanged contracts on the purchase of a freehold property. The purchase completed on 7 June 2024.

14. ULTIMATE CONTROLLING PARTY

The controlling party is Chattertons Group Limited.