Company registration number 08699316 (England and Wales)
EDEN PROPERTIES CHESTERFIELD LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
EDEN PROPERTIES CHESTERFIELD LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
EDEN PROPERTIES CHESTERFIELD LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
2,000,000
1,350,000
Current assets
Debtors
4
34,935
34,935
Net current assets
34,935
34,935
Total assets less current liabilities
2,034,935
1,384,935
Provisions for liabilities
(275,405)
(112,905)
Net assets
1,759,530
1,272,030
Capital and reserves
Called up share capital
5
100
100
Revaluation reserve
6
913,753
426,253
Profit and loss reserves
845,677
845,677
Total equity
1,759,530
1,272,030

The notes on pages 3 to 5 form part of these financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 November 2024 and are signed on its behalf by:
D M Beckford
J A G Harris
Director
Director
Company registration number 08699316 (England and Wales)
EDEN PROPERTIES CHESTERFIELD LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 March 2022
100
426,253
872,774
1,299,127
Year ended 28 February 2023:
Loss and total comprehensive income
-
-
(27,097)
(27,097)
Balance at 28 February 2023
100
426,253
845,677
1,272,030
Year ended 28 February 2024:
Profit and total comprehensive income
-
-
487,500
487,500
Other movements
-
487,500
(487,500)
-
Balance at 28 February 2024
100
913,753
845,677
1,759,530

The notes on pages 3 to 5 form part of these financial statements.

EDEN PROPERTIES CHESTERFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Eden Properties Chesterfield Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pronto Industrial Paints Ltd Stainsby Close, Holmewood Industrial Estate, Holmewood, Chesterfield, S42 5UG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Investment property

The investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from a change in fair value is recognised as a profit or loss in the income statement but transferred to a non-distributable reserve (revaluation reserve) to represent non-distributable earnings.

1.3
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

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

 

EDEN PROPERTIES CHESTERFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 March 2023
1,350,000
Additions
650,000
At 28 February 2024
2,000,000

The fair value of the investment property has been arrived at on the basis of a professional valuation carried out by Sanderson Weatherall on 21 August 2024. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. Subsequently the directors have used this professional valuation, together with a review of conditions existing at 31 March 2024, to arrive at a valuation of the property as at 31 March 2024.

 

The fair value at 28 February 2024 is represented by the cost of £813,750 and the valuation in 2024 of £1,186,250.

 

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
34,935
34,935
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
6
Revaluation reserve

The revaluation reserve represents the non distributable fair value uplift on the investment property less the associated deferred taxation liability.

EDEN PROPERTIES CHESTERFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 5 -
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Sara Dawson
Statutory Auditor:
Taylor Dawson Plumb Limited
Date of audit report:
26 November 2024
8
Parent company

The ultimate parent company is Pronto Industrial Paints Limited. The registered office is Stainsby Close, Holmewood Industrial Estate, Chesterfield, Derbyshire, S42 5UG.

2024-02-282023-03-01falsefalsefalse26 November 2024CCH SoftwareCCH Accounts Production 2024.310Dormant company

D M BeckfordJ A G Harris
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