Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-3112022-08-01falsedevelopment of real estate1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10891352 2022-08-01 2023-07-31 10891352 2021-08-01 2022-07-31 10891352 2023-07-31 10891352 2022-07-31 10891352 c:Director2 2022-08-01 2023-07-31 10891352 d:CurrentFinancialInstruments 2023-07-31 10891352 d:CurrentFinancialInstruments 2022-07-31 10891352 d:Non-currentFinancialInstruments 2023-07-31 10891352 d:Non-currentFinancialInstruments 2022-07-31 10891352 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10891352 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 10891352 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 10891352 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 10891352 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 10891352 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 10891352 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 10891352 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 10891352 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-07-31 10891352 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-07-31 10891352 d:ShareCapital 2023-07-31 10891352 d:ShareCapital 2022-07-31 10891352 d:RetainedEarningsAccumulatedLosses 2023-07-31 10891352 d:RetainedEarningsAccumulatedLosses 2022-07-31 10891352 c:FRS102 2022-08-01 2023-07-31 10891352 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 10891352 c:FullAccounts 2022-08-01 2023-07-31 10891352 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10891352 2 2022-08-01 2023-07-31 10891352 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number:  10891352














CHRODA DEVELOPMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


 
CHRODA DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10891352

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
1,074,188
600,000

Debtors: amounts falling due within one year
 4 
23,734
250,642

Cash at bank and in hand
 5 
602,027
202,221

  
1,699,949
1,052,863

Creditors: amounts falling due within one year
 6 
(1,126,768)
(464,528)

Net current assets
  
 
 
573,181
 
 
588,335

Total assets less current liabilities
  
573,181
588,335

Creditors: amounts falling due after more than one year
 7 
(34,474)
(39,661)

  

Net assets
  
538,707
548,674


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
538,705
548,672

  
538,707
548,674


Page 1

 
CHRODA DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10891352
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr C Tushingham
Director

Date: 16 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CHRODA DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act
2006 and registered in England & Wales (no. 10891352). The registered office is Suite 205 Second Floor, No 1 Old Hall Street, Liverpool, Merseyside, England, L3 9GH.
These financial statements present information about the company as an individual undertaking. The
principal activity of the company is that of real estate development.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
CHRODA DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
CHRODA DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Debtors

2023
2022
£
£


Other debtors
23,734
250,642

23,734
250,642



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
602,027
202,221

602,027
202,221



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,189
5,191

Trade creditors
681
-

Corporation tax
124,300
126,638

Other taxation and social security
15,024
15,024

Other creditors
969,683
310,953

Accruals and deferred income
11,891
6,722

1,126,768
464,528



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
34,474
39,661

34,474
39,661


Page 5

 
CHRODA DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,189
5,191

Amounts falling due 1-2 years

Bank loans
5,320
5,320

Amounts falling due 2-5 years

Bank loans
16,782
16,782

Amounts falling due after more than 5 years

Bank loans
12,371
17,559

39,662
44,852



9.


Related party transactions

Included in debtors is an amount of £70 (2022: £249,215) owed from Chroda Limited, a connected company. The loan is repayable on demand and no interest has been charged.
Included in creditors is an amount of £527,360 (2022: £111,796) owed to the director and a connected person. The loan is repayable on demand and no interest has been charged.
Also included in creditors is an amount of £448,900 (2022: £199,157) owed to L & T Facilities Management Ltd, a connected company. The loan is repayable on demand and no interest has been charged.


10.


Controlling party

The company is under the control of the director.

 
Page 6