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REGISTERED NUMBER: 01039944 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Chesterhill Investments Limited

Chesterhill Investments Limited (Registered number: 01039944)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Chesterhill Investments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B A Binstock FCA
P E Binstock
S D Cole



SECRETARY: S D Cole



REGISTERED OFFICE: Albany House
10 Wood Street
Barnet
Herts
EN5 4BW



REGISTERED NUMBER: 01039944 (England and Wales)



ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE



SOLICITORS: Penman Sedgwick LLP
5 George Street
Watford
Herts
WD18 0SQ

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Chesterhill Investments 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 Balance Sheet. 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 Chesterhill Investments Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, 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 Chesterhill Investments 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 Chesterhill Investments Limited and state those matters that we have agreed to state to the Board of Directors of Chesterhill Investments 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 Chesterhill Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chesterhill Investments 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 Chesterhill Investments Limited. You consider that Chesterhill Investments 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 Chesterhill Investments 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.






Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE


3 October 2024

Chesterhill Investments Limited (Registered number: 01039944)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 400,400 400,400
Investment property 5 10,940,296 10,638,854
11,340,696 11,039,254

CURRENT ASSETS
Stocks 30,031,308 29,520,364
Debtors 6 1,091,909 987,741
Cash at bank and in hand 68 81,937
31,123,285 30,590,042
CREDITORS
Amounts falling due within one year 7 1,602,325 1,298,654
NET CURRENT ASSETS 29,520,960 29,291,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,861,656

40,330,642

CREDITORS
Amounts falling due after more than one year 8 (15,000,000 ) (15,000,000 )

PROVISIONS FOR LIABILITIES 10 (1,386,369 ) (1,386,369 )
NET ASSETS 24,475,287 23,944,273

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 24,475,187 23,944,173
SHAREHOLDERS' FUNDS 24,475,287 23,944,273

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 profit or loss 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.

Chesterhill Investments Limited (Registered number: 01039944)

Balance Sheet - continued
31 March 2024


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 3 October 2024 and were signed on its behalf by:





B A Binstock FCA - Director


Chesterhill Investments Limited (Registered number: 01039944)

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

1. STATUTORY INFORMATION

Chesterhill Investments 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.

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.

Investments in associates
Investments in associate undertakings are recognised at cost.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Turnover
Turnover represents the net sale proceeds from properties previously held as trading stock together with the amount of gross rents receivable. A sale of a property is recognised on an unconditional exchange of contracts.

Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. FIXED ASSET INVESTMENTS
Group Other
Investments investments Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 400 400,000 400,400
NET BOOK VALUE
At 31 March 2024 400 400,000 400,400
At 31 March 2023 400 400,000 400,400

Chesterhill Investments Limited (Registered number: 01039944)

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

4. FIXED ASSET INVESTMENTS - continued

None of the subsidiary undertakings traded during the year.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 10,638,854
Additions 301,442
At 31 March 2024 10,940,296
NET BOOK VALUE
At 31 March 2024 10,940,296
At 31 March 2023 10,638,854

Some of the investment properties were valued on an open market basis in December 2021 by BNP Paribas. Where an investment property was not valued by BNP Paribas the directors have given their assessment of value on the same basis.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 344,007 268,979
Other debtors 747,902 718,762
1,091,909 987,741

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts (see note 9) 142,308 -
Trade creditors 47,533 11,762
Taxation and social security 270,695 226,843
Other creditors 1,141,789 1,060,049
1,602,325 1,298,654

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans (see note 9) 15,000,000 15,000,000

Chesterhill Investments Limited (Registered number: 01039944)

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

9. LOANS

An analysis of the maturity of loans is given below:

31/3/24 31/3/23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 142,308 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 15,000,000 15,000,000

The company has loan facilities totalling £15,000,000 as at 31 March 2024, all of which had been drawn at the balance sheet date.

These bank loans are secured by fixed and floating charges over properties owned by the company. The loans are repayable as follows:

Repayable 22/04/2025, £15,000,000.

Each loan attracts an average interest rate of 2.15% above Bank of England base rate.

10. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£    £   
Deferred tax 1,386,369 1,386,369

Deferred
tax
£   
Balance at 1 April 2023 1,386,369
Balance at 31 March 2024 1,386,369

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
600 A shares 0.10 60 60
200 B shares 0.10 20 20
200 C shares 0.10 20 20
100 100

Chesterhill Investments Limited (Registered number: 01039944)

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

12. RESERVES
Retained
earnings
£   

At 1 April 2023 23,944,173
Profit for the year 699,014
Dividends (168,000 )
At 31 March 2024 24,475,187

13. OTHER FINANCIAL COMMITMENTS

At 31 March 2024 the company was committed to paying rent of £26,000 (2023: £26,000) under a non-cancellable operating lease which expires in over five years.

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £168,000 were paid to the directors .

Chesterhill Investments Limited paid rent of £26,750 (2023: £26,000) to IPS Pension Builder, a scheme in which Mr and Mrs Binstock are members and trustees.

A donation of £100,000 (2023: £100,000) was paid to Chesterhill Charitable Trust Ltd during the year. B A Binstock and P E Binstock are also directors of this charitable company.

At the year end Mr Binstock was owed £313 (2023: £291) by the company.

Within other debtors is £704,137 (2023: £698,553) owed by Startlink Ltd., a company in which the director, B Binstock, is a director and shareholder.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B A Binstock FCA.