Chrisnasthau Properties Ltd |
Registered number: |
09250890 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
419,000 |
|
|
419,000 |
|
Current assets |
Cash at bank and in hand |
|
|
22,060 |
|
|
20,447 |
|
Creditors: amounts falling due within one year |
4 |
|
(4,802) |
|
|
(5,940) |
|
Net current assets |
|
|
|
17,258 |
|
|
14,507 |
|
Total assets less current liabilities |
|
|
|
436,258 |
|
|
433,507 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(310,627) |
|
|
(318,723) |
|
Provisions for liabilities |
|
|
|
(16,720) |
|
|
(16,720) |
|
|
Net assets |
|
|
|
108,911 |
|
|
98,064 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
108,909 |
|
|
98,062 |
|
Shareholders' funds |
|
|
|
108,911 |
|
|
98,064 |
|
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
P Hartley |
Director |
Approved by the board on 28 October 2024 |
|
Chrisnasthau Properties Ltd |
Notes to the Accounts |
for the year ended 31 March 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover represents revenue earned from letting and is recognised upon receipt. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Office equipment |
over 5 years |
|
|
Investment properties |
|
Investment properties are initially recognised at cost and subsequently carried at fair value, determined annually on the open market basis. Changes in fair values are recognised in profit or loss. Investment properties are subject to renovations or improvements at regular intervals. The cost of major renovations and improvements is capitalised and the carrying amounts of the replaced components are recognised in profit or loss. The cost of maintenance, repairs and minor improvements is recognised in profit or loss when incurred. On disposal of an investment property, the difference between the disposal proceeds and the carrying amount is recognised in profit or loss. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment property |
£ |
|
Cost |
|
At 1 April 2023 |
419,000 |
|
At 31 March 2024 |
419,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
419,000 |
|
At 31 March 2023 |
419,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2024 |
|
2023 |
£ |
£ |
|
Historical cost |
331,000 |
|
331,000 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
331,000 |
|
331,000 |
|
|
|
|
|
|
|
|
|
|
|
The properties were revalued, at fair value, on 31/03/2020 by the managing director, Mr Paul Hartley. Fair value was ascertained by review of current prices on an active market for similar property in the same location and condition. No material change to values has occurred since the last revaluation. |
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
1,902 |
|
3,096 |
|
Corporation tax |
2,900 |
|
2,844 |
|
|
|
|
|
|
4,802 |
|
5,940 |
|
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Other creditors |
310,627 |
|
318,723 |
|
|
|
|
|
|
|
|
|
|
|
|
6 |
Related party transactions |
|
Mrs C and Mr P Hartley |
|
|
Included in other creditors are loans due to the directors totalling £310,004 (2023: £318,723). Mr and Mrs Hartley have assured they will not draw substantially upon the loans if to do so would effect the financial stability of the company. |
|
|
|
|
7 |
Other information |
|
|
Chrisnasthau Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
5A Church Road South |
|
Woolton Village |
|
Liverpool |
|
L25 7RJ |