Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Mr Nicholas James Watkins 07/07/2022 10 October 2024 The principal activity of the Company during the financial period was Real estate agency. 14220333 2024-07-31 14220333 bus:Director1 2024-07-31 14220333 2023-07-31 14220333 core:CurrentFinancialInstruments 2024-07-31 14220333 core:CurrentFinancialInstruments 2023-07-31 14220333 core:ShareCapital 2024-07-31 14220333 core:ShareCapital 2023-07-31 14220333 core:RetainedEarningsAccumulatedLosses 2024-07-31 14220333 core:RetainedEarningsAccumulatedLosses 2023-07-31 14220333 core:OfficeEquipment 2023-07-31 14220333 core:ComputerEquipment 2023-07-31 14220333 core:OfficeEquipment 2024-07-31 14220333 core:ComputerEquipment 2024-07-31 14220333 2023-08-01 2024-07-31 14220333 bus:FilletedAccounts 2023-08-01 2024-07-31 14220333 bus:SmallEntities 2023-08-01 2024-07-31 14220333 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 14220333 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14220333 bus:Director1 2023-08-01 2024-07-31 14220333 core:OfficeEquipment 2023-08-01 2024-07-31 14220333 core:ComputerEquipment 2023-08-01 2024-07-31 14220333 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 14220333 (England and Wales)

CHESTER LAND AND DEVELOPMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

CHESTER LAND AND DEVELOPMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

CHESTER LAND AND DEVELOPMENT LIMITED

BALANCE SHEET

As at 31 July 2024
CHESTER LAND AND DEVELOPMENT LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,920 2,291
4,920 2,291
Current assets
Debtors 4 114,305 233,058
Cash at bank and in hand 127,741 26,311
242,046 259,369
Creditors: amounts falling due within one year 5 ( 55,018) ( 80,634)
Net current assets 187,028 178,735
Total assets less current liabilities 191,948 181,026
Provision for liabilities ( 1,230) ( 573)
Net assets 190,718 180,453
Capital and reserves
Called-up share capital 100 100
Profit and loss account 190,618 180,353
Total shareholders' funds 190,718 180,453

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Chester Land and Development Limited (registered number: 14220333) were approved and authorised for issue by the Director on 10 October 2024. They were signed on its behalf by:

Mr Nicholas James Watkins
Director
CHESTER LAND AND DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
CHESTER LAND AND DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chester Land and Development Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, reducing balance basis over its expected useful life, as follows:

Office equipment 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 August 2023 909 1,860 2,769
Additions 1,945 1,807 3,752
At 31 July 2024 2,854 3,667 6,521
Accumulated depreciation
At 01 August 2023 117 361 478
Charge for the financial year 610 513 1,123
At 31 July 2024 727 874 1,601
Net book value
At 31 July 2024 2,127 2,793 4,920
At 31 July 2023 792 1,499 2,291

4. Debtors

2024 2023
£ £
Trade debtors 55,350 6,000
Amounts owed by director 58,915 227,018
Other debtors 40 40
114,305 233,058

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 38
Accruals 1,700 1,500
Taxation and social security 53,318 79,096
55,018 80,634

6. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Advance to director 58,915 227,018

Interest at the rate of 2.25% is charged on the overdrawn loan amount.