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Registration number: 13304039

Chequers Estate Agents (Barnstaple) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Chequers Estate Agents (Barnstaple) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Chequers Estate Agents (Barnstaple) Limited

Company Information

Director

Mr R Bushnell

Registered office

66-67 Boutport Street
Barnstaple
Devon
EX31 1HG

Accountants

Ward and Co Chartered Accountants
West Penhill Farm
Fremington
Barnstaple
Devon
EX31 2NG

 

Chequers Estate Agents (Barnstaple) Limited

(Registration number: 13304039)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

87,500

100,000

Tangible assets

5

29,529

57,711

 

117,029

157,711

Current assets

 

Debtors

6

12,875

3,276

Cash at bank and in hand

 

6,666

29,768

 

19,541

33,044

Creditors: Amounts falling due within one year

7

(11,691)

(11,096)

Net current assets

 

7,850

21,948

Total assets less current liabilities

 

124,879

179,659

Creditors: Amounts falling due after more than one year

7

(253,000)

(200,000)

Net liabilities

 

(128,121)

(20,341)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(128,122)

(20,342)

Shareholders' deficit

 

(128,121)

(20,341)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 November 2024
 

 

Chequers Estate Agents (Barnstaple) Limited

(Registration number: 13304039)
Balance Sheet as at 31 July 2024

.........................................
Mr R Bushnell
Director

 

Chequers Estate Agents (Barnstaple) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
66-67 Boutport Street
Barnstaple
Devon
EX31 1HG

These financial statements were authorised for issue by the director on 19 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

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.

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.

 

Chequers Estate Agents (Barnstaple) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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

Freehold

No Depreciation

Plant & Machinery

2 Year Straight Line on Current Item

Motor Vehicles

25% Reducing Balance

Fixtures & Fittings

15% Reducing Balance

Computer Equipment

3 Year Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 3).

 

Chequers Estate Agents (Barnstaple) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

125,000

125,000

At 31 July 2024

125,000

125,000

Amortisation

At 1 August 2023

25,000

25,000

Amortisation charge

12,500

12,500

At 31 July 2024

37,500

37,500

Carrying amount

At 31 July 2024

87,500

87,500

At 31 July 2023

100,000

100,000

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

45,000

20,954

-

65,954

Additions

-

873

24,374

25,247

Disposals

(45,000)

-

-

(45,000)

At 31 July 2024

-

21,827

24,374

46,201

Depreciation

At 1 August 2023

-

8,243

-

8,243

Charge for the year

-

6,043

2,386

8,429

At 31 July 2024

-

14,286

2,386

16,672

Carrying amount

At 31 July 2024

-

7,541

21,988

29,529

At 31 July 2023

45,000

12,711

-

57,711

Included within the net book value of land and buildings above is £0 (2023 - £45,000) in respect of freehold land and buildings.
 

 

Chequers Estate Agents (Barnstaple) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Debtors

2024
£

2023
£

Trade debtors

8,932

-

Prepayments

3,943

3,276

12,875

3,276

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

7,105

5,330

Taxation and social security

3,379

5,542

Accruals and deferred income

1,207

224

11,691

11,096

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

253,000

200,000

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1