REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Chapman Management Services Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Chapman Management Services Ltd |
Chapman Management Services Ltd (Registered number: 07822495) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Chapman Management Services Ltd |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
48 Hucclecote Road |
Gloucester |
Gloucestershire |
GL3 3RS |
BANKERS: |
Bridle Road |
Bootle |
Merseyside |
L30 4GB |
Chapman Management Services Ltd (Registered number: 07822495) |
Statement of Financial Position |
31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
Chapman Management Services Ltd (Registered number: 07822495) |
Statement of Financial Position - continued |
31 March 2024 |
The financial statements were approved by the director and authorised for issue on |
Chapman Management Services Ltd (Registered number: 07822495) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Chapman Management Services Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Going concern |
Despite net current liabilities of £158,551 at 31 March 2024, the accounts have been prepared on a going concern basis. The director has reviewed future cash flows and expressed her willingness to financially support the company for the foreseeable future and therefore considers it appropriate to prepare the financial statements on a going concern basis. |
Chapman Management Services Ltd (Registered number: 07822495) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 April 2023 |
Additions |
At 31 March 2024 |
Depreciation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 April 2023 |
Additions |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
If investment property had not been revalued it would have been included at the historical cost of £1,767,498 (2023 - £1,162,924) |
The director having reviewed the local property market has valued investment properties at 31 March 2024. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Other debtors |
Chapman Management Services Ltd (Registered number: 07822495) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans |
Santander UK Plc has registered a fixed charge against the investment properties along with a further debenture registering a fixed and floating charge over the remaining company assets. |
The company director, Mrs A J Chapman, has provided a personal guarantee to Santander UK Plc for £50,000. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023: |
31/3/24 | 31/3/23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The prior year loan to the directors was repaid in full during the year. Interest of £6,119 (2023 - £5,332) was charged on the loan to the directors. |
The directors loaned funds to the company during the year. A loan of £498,784 exists at the year end. The loan, included within other creditors, is interest free and has no formal repayment terms. |
Chapman Management Services Ltd (Registered number: 07822495) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
11. | RELATED PARTY DISCLOSURES |
Medical Graphics UK Ltd |
A company controlled by the director Mrs A J Chapman |
During the year, management fees totalling £541,062 (2023 - £328,000) were charged to Medical Graphics UK Ltd. |
Medical Graphics UK Ltd rents a property owned by Chapman Management Services Ltd. Rent and service charges of £55,000 (2023 - £51,290) were received during the year. |
At 31 March 2024, Medical Graphics UK Ltd owed the company £NIL (2023 - £NIL). |
Chapman Management Holdings Limited |
Parent company |
At 31 March 2024, Chapman Management Services Ltd owed the company £1 (2023 - £1). The balance is interest free and has no fixed repayment terms. |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate parent undertaking is Chapman Management Holdings Limited, a company registered in England and Wales. The company is controlled by Mrs A J Chapman, director of Chapman Management Services Ltd. Chapman Management Holdings Limited, which shares the same registered office as Chapman Management Services Ltd, has taken the option under Section 399(2A) of the Companies Act 2006 not to prepare consolidated financial statements. |