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Logo On Report
Registered Number: 12855591
England and Wales

 

 

 

CHY ULA LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 610,420    610,420 
610,420    610,420 
Current assets      
Debtors 81   
Cash at bank and in hand 4,025    1,213 
4,106    1,213 
Creditors: amount falling due within one year (222,812)   (236,429)
Net current assets (218,706)   (235,216)
 
Total assets less current liabilities 391,714    375,204 
Creditors: amount falling due after more than one year (324,416)   (334,530)
Net assets 67,298    40,674 
 

Capital and reserves
     
Called up share capital 4 100   
Profit and loss account 67,198    40,674 
Shareholders' funds 67,298    40,674 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 20 September 2024 and were signed on its behalf by:


-------------------------------
Peter Timothy Fraser
Director
1
General Information
Chy Ula Limited is a private company, limited by shares, registered in England and Wales, registration number 12855591, registration address Chy Ula, 5 Henliston Drive, Helston, TR13 8BW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 (as applied to small entities by Section 1A of the standard)
Rent received
Rental income is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 March 2023 610,420    610,420 
Additions  
Disposals  
At 29 February 2024 610,420    610,420 
Depreciation
At 01 March 2023  
Charge for year  
On disposals  
At 29 February 2024  
Net book values
Closing balance as at 29 February 2024 610,420    610,420 
Opening balance as at 01 March 2023 610,420    610,420 


4.

Share Capital

Authorised
40 Class 1 shares of £1.00 each
60 Class 2 shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
40 Class 1 shares of £1.00 each 40    40 
60 Class 2 shares of £1.00 each 60    60 
100    100 

2