Chipro Lettings Ltd 09010078 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 09010078 2022-10-01 2023-09-30 09010078 2023-09-30 09010078 bus:OrdinaryShareClass1 2023-09-30 09010078 core:CurrentFinancialInstruments 2023-09-30 09010078 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 09010078 core:Non-currentFinancialInstruments 2023-09-30 09010078 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 09010078 bus:SmallEntities 2022-10-01 2023-09-30 09010078 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 09010078 bus:FullAccounts 2022-10-01 2023-09-30 09010078 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 09010078 bus:RegisteredOffice 2022-10-01 2023-09-30 09010078 bus:CompanySecretaryDirector1 2022-10-01 2023-09-30 09010078 bus:Director1 2022-10-01 2023-09-30 09010078 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 09010078 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 09010078 countries:EnglandWales 2022-10-01 2023-09-30 09010078 2022-09-30 09010078 2021-10-01 2022-09-30 09010078 2022-09-30 09010078 bus:OrdinaryShareClass1 2022-09-30 09010078 core:CurrentFinancialInstruments 2022-09-30 09010078 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 09010078 core:Non-currentFinancialInstruments 2022-09-30 09010078 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09010078

Chipro Lettings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Chipro Lettings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Chipro Lettings Ltd

Company Information

Directors

Mr Thomas Francis Robinson

Mr Jonathan Robinson

Company secretary

Mr Jonathan Robinson

Registered office

4 Beckham Place
Edward Street
Norwich
Norfolk
NR3 3DZ

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Chipro Lettings Ltd

(Registration number: 09010078)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

292,000

542,000

Current assets

 

Debtors

5

123,959

36,297

Cash at bank and in hand

 

3,654

725

 

127,613

37,022

Creditors: Amounts falling due within one year

6

(171,948)

(316,110)

Net current liabilities

 

(44,335)

(279,088)

Total assets less current liabilities

 

247,665

262,912

Creditors: Amounts falling due after more than one year

6

(48,729)

(191,146)

Provisions for liabilities

(15,845)

(15,845)

Net assets

 

183,091

55,921

Capital and reserves

 

Called up share capital

7

1,000

1,000

Other reserves

67,551

67,551

Retained earnings

114,540

(12,630)

Shareholders' funds

 

183,091

55,921

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Chipro Lettings Ltd

(Registration number: 09010078)
Balance Sheet as at 30 September 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:

.........................................

Mr Jonathan Robinson
Company secretary and director

 

Chipro Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Beckham Place
Edward Street
Norwich
Norfolk
NR3 3DZ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Chipro Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Chipro Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 October

542,000

Disposals

(250,000)

At 30 September

292,000

There has been no valuation of investment property by an independent valuer.

 

Chipro Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

115,639

36,297

Other debtors

8,320

-

 

123,959

36,297

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,178

2,495

Taxation and social security

200

200

Accruals and deferred income

1,800

1,175

Other creditors

167,770

312,240

171,948

316,110

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

48,729

191,146

 

Chipro Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

48,729

191,146

9

Related party transactions

At the year end the company owed to the directors £45,908 (2022: £37,399).