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REGISTERED NUMBER: 03196105 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

CHAPELLANE LIMITED

CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHAPELLANE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: I J Tims
A R Tims





SECRETARY: I J Tims





REGISTERED OFFICE: Twickenham Trading Estate
Rugby Road
Twickenham
Middlesex
TW1 1AU





REGISTERED NUMBER: 03196105 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 11,334 11,334
Investment property 5 3,505,000 3,505,000
3,516,334 3,516,334

CURRENT ASSETS
Debtors 6 1,885 1,787
Cash at bank 46,512 22,431
48,397 24,218
CREDITORS
Amounts falling due within one year 7 1,062,658 39,550
NET CURRENT LIABILITIES (1,014,261 ) (15,332 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,502,073

3,501,002

CREDITORS
Amounts falling due after more than one year 8 (615,000 ) (1,675,243 )

PROVISIONS FOR LIABILITIES 10 (152,961 ) (152,961 )
NET ASSETS 1,734,112 1,672,798

CAPITAL AND RESERVES
Called up share capital 11 2,001 2,001
Retained earnings 1,732,111 1,670,797
SHAREHOLDERS' FUNDS 1,734,112 1,672,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105)

BALANCE SHEET - continued
30 APRIL 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 30 October 2024 and were signed on its behalf by:





I J Tims - Director


CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Chapellane 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.

Turnover
Turnover represents income from the rental of investment properties.

Rental income is recognised in the period in which it relates to.

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

Investment property
In accordance with FRS 102; Investment property is property (land or building, or part of a building, or both) held by the owner or by the lessee under a finance lease to earn rentals or for capital appreciation or both. An entity shall measure investment property at its initial recognition. The cost of a purchased investment property comprises its purchase price and any directly attributable expenditure such as legal and brokerage fees, property transfer taxes and other transaction costs. Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The directors consider that the value included in the accounts is a fair valuation of the property's market value at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

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

CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. FIXED ASSET INVESTMENTS
Interest
in
associate
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 11,334
NET BOOK VALUE
At 30 April 2024 11,334
At 30 April 2023 11,334

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 3,505,000
NET BOOK VALUE
At 30 April 2024 3,505,000
At 30 April 2023 3,505,000

Investment property was valued on an open market basis on 30 April 2024 by the directors. On a historical cost basis the investment properties would have been included at an original cost of £2,329,749 (2023 - £2,329,749).

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 1,175,251
Cost 2,329,749
3,505,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors - 120
Other debtors 1,885 1,667
1,885 1,787

CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 1,039,692 15,960
Trade creditors 900 1,140
Taxation and social security 17,004 17,343
Other creditors 5,062 5,107
1,062,658 39,550

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1,040,243
Other creditors 615,000 635,000
615,000 1,675,243

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 1,039,692 1,056,203

The bank loans are secured over the company's investment properties.

10. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 152,961 152,961

Deferred
tax
£   
Balance at 1 May 2023 152,961
Balance at 30 April 2024 152,961

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2,001 Ordinary £1 2,001 2,001

12. RELATED PARTY DISCLOSURES

At the year end the company owed the shareholders £615,000 (2023 - £635,000) The loan is interest free.