Chevron Investment Holdings Limited 12172320 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is letting of residentail property Digita Accounts Production Advanced 6.30.9574.0 true 12172320 2023-01-01 2023-12-31 12172320 2023-12-31 12172320 bus:OrdinaryShareClass1 2023-12-31 12172320 bus:OrdinaryShareClass2 2023-12-31 12172320 bus:OrdinaryShareClass3 2023-12-31 12172320 bus:OrdinaryShareClass4 2023-12-31 12172320 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12172320 core:Non-currentFinancialInstruments 2023-12-31 12172320 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 12172320 core:FurnitureFittingsToolsEquipment 2023-12-31 12172320 bus:SmallEntities 2023-01-01 2023-12-31 12172320 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12172320 bus:FilletedAccounts 2023-01-01 2023-12-31 12172320 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12172320 bus:RegisteredOffice 2023-01-01 2023-12-31 12172320 bus:Director1 2023-01-01 2023-12-31 12172320 bus:Director2 2023-01-01 2023-12-31 12172320 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12172320 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 12172320 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 12172320 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 12172320 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12172320 core:FurnitureFittings 2023-01-01 2023-12-31 12172320 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 12172320 countries:England 2023-01-01 2023-12-31 12172320 2022-12-31 12172320 core:FurnitureFittingsToolsEquipment 2022-12-31 12172320 2022-01-01 2022-12-31 12172320 2022-12-31 12172320 bus:OrdinaryShareClass1 2022-12-31 12172320 bus:OrdinaryShareClass2 2022-12-31 12172320 bus:OrdinaryShareClass3 2022-12-31 12172320 bus:OrdinaryShareClass4 2022-12-31 12172320 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 12172320 core:Non-currentFinancialInstruments 2022-12-31 12172320 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 12172320 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12172320

Chevron Investment Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Chevron Investment Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Chevron Investment Holdings Limited

Company Information

Directors

Mr A Shafqat

Dr S R Rais

Registered office

35 Potters Lane
Barnet
EN5 5BE

Accountants

Munslows Accountants Ltd
Chartered Certified Accountants
32 High Street
Wall Heath
Kingswinford
West Midlands
DY6 0HB

 

Chevron Investment Holdings Limited

(Registration number: 12172320)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,062

2,124

Investment property

5

453,251

453,251

 

454,313

455,375

Current assets

 

Cash at bank and in hand

 

10,154

9,686

Creditors: Amounts falling due within one year

6

(136,567)

(140,436)

Net current liabilities

 

(126,413)

(130,750)

Total assets less current liabilities

 

327,900

324,625

Creditors: Amounts falling due after more than one year

6

(325,932)

(325,932)

Net assets/(liabilities)

 

1,968

(1,307)

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

1,964

(1,311)

Shareholders' funds/(deficit)

 

1,968

(1,307)

For the financial year ending 31 December 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.

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 18 November 2024 and signed on its behalf by:
 

.........................................
Mr A Shafqat
Director

 

Chevron Investment Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
35 Potters Lane
Barnet
EN5 5BE

These financial statements were authorised for issue by the Board on 18 November 2024.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Chevron Investment Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

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 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.

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.

3

Staff numbers

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

 

Chevron Investment Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

4,249

4,249

At 31 December 2023

4,249

4,249

Depreciation

At 1 January 2023

2,125

2,125

Charge for the year

1,062

1,062

At 31 December 2023

3,187

3,187

Carrying amount

At 31 December 2023

1,062

1,062

At 31 December 2022

2,124

2,124

5

Investment properties

2023
£

At 1 January

453,251

At 31 December

453,251

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

 

Chevron Investment Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

289

-

Accruals and deferred income

550

550

Other creditors

135,728

139,886

136,567

140,436

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

325,932

325,932

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

Ordinary A shares of £1 each

1

1

1

1

Ordinary B shares of £1 each

1

1

1

1

Ordinary C shares of £1 each

1

1

1

1

4

4

4

4

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

325,932

325,932