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Registered number: 02582713
Charmcroft Management Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 02582713
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 671,919 672,548
671,919 672,548
Creditors: Amounts Falling Due Within One Year 5 (21,386 ) (18,433 )
NET CURRENT ASSETS (LIABILITIES) (21,386 ) (18,433 )
TOTAL ASSETS LESS CURRENT LIABILITIES 650,533 654,115
Creditors: Amounts Falling Due After More Than One Year 6 (121,014 ) (121,014 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (90,693 ) (69,345 )
NET ASSETS 438,826 463,756
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 438,726 463,656
SHAREHOLDERS' FUNDS 438,826 463,756
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs N Linderman
Director
11 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Charmcroft Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02582713 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NA
Fixtures and fittings 25% Reducing Balance
2.4. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Fixtures and fittings Total
£ £ £
Cost
As at 1 April 2023 670,633 112,058 782,691
As at 31 March 2024 670,633 112,058 782,691
...CONTINUED
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Depreciation
As at 1 April 2023 - 110,143 110,143
Provided during the period - 629 629
As at 31 March 2024 - 110,772 110,772
Net Book Value
As at 31 March 2024 670,633 1,286 671,919
As at 1 April 2023 670,633 1,915 672,548
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 3,483 4,686
Director's loan account 17,903 13,747
21,386 18,433
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 121,014 121,014
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
9. Related Party Transactions
The following related party transactions were undertaken during the year:
The director of the company withdrew amounts totalling £6,560 (2023: £30,650), introduced amounts totalling £9,716 (2023: £43,085) and was paid dividends totalling £1,000 (2023: £2,000). At the balance sheet date the company owed the director £17,903 (2023: £13,747).
Dividends were paid to the director in respect of her shareholding totalling £1,000 (2023: £2,000).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'
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