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REGISTERED NUMBER: 07822495 (England and Wales)















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: Mrs A J Chapman



REGISTERED OFFICE: Unit B, 6400 Severn Drive
Tewkesbury Business Park
Tewkesbury
Gloucestershire
GL20 8SF



REGISTERED NUMBER: 07822495 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Santander UK Plc
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 18,153 13,926
Investment property 5 1,833,952 1,229,378
1,852,105 1,243,304

CURRENT ASSETS
Debtors 6 202,548 495,680
Cash at bank 362,281 40,425
564,829 536,105
CREDITORS
Amounts falling due within one year 7 723,380 161,612
NET CURRENT (LIABILITIES)/ASSETS (158,551 ) 374,493
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,693,554

1,617,797

CREDITORS
Amounts falling due after more than one
year

8

(519,625

)

(549,306

)

PROVISIONS FOR LIABILITIES (18,367 ) (20,095 )
NET ASSETS 1,155,562 1,048,396

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 49,841 49,841
Retained earnings 1,105,720 998,554
SHAREHOLDERS' FUNDS 1,155,562 1,048,396

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 director and authorised for issue on 14 October 2024 and were signed by:





Mrs A J Chapman - Director


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 50% on reducing balance
Motor vehicles - 25% on reducing balance

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 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 April 2023 21,577 1,599 - 23,176
Additions - - 11,850 11,850
At 31 March 2024 21,577 1,599 11,850 35,026
Depreciation
At 1 April 2023 8,034 1,216 - 9,250
Charge for year 4,469 191 2,963 7,623
At 31 March 2024 12,503 1,407 2,963 16,873
Net book value
At 31 March 2024 9,074 192 8,887 18,153
At 31 March 2023 13,543 383 - 13,926

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023 1,229,378
Additions 604,574
At 31 March 2024 1,833,952
Net book value
At 31 March 2024 1,833,952
At 31 March 2023 1,229,378

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 202,548 495,680

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 76,200 76,200
Amounts owed to group undertakings 1 1
Taxation and social security 145,729 83,789
Other creditors 501,450 1,622
723,380 161,612

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 519,625 549,306

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Bank loans 595,825 625,506

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
£    £   
N J Chapman and Mrs A J Chapman
Balance outstanding at start of year 495,394 43,171
Amounts advanced - 782,313
Amounts repaid (495,394 ) (330,090 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 495,394

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.