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Registered Number: 13516995
England and Wales

 

 

 

CHURCHDOWN CAPITAL LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,347    2,619 
Investments 4 1,385,783    1,385,783 
1,387,130    1,388,402 
Current assets      
Debtors 8,501    840 
Investments 118,928    101,253 
Cash at bank and in hand 21,491    8,285 
148,920    110,378 
Creditors: amount falling due within one year (785,284)   (801,099)
Net current assets (636,364)   (690,721)
 
Total assets less current liabilities 750,766    697,681 
Creditors: amount falling due after more than one year (736,743)   (715,203)
Provisions for liabilities (5,069)   (736)
Net assets 8,954    (18,258)
 

Capital and reserves
     
Called up share capital 5 120    120 
Profit and loss account 8,834    (18,378)
Shareholders' funds 8,954    (18,258)
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 26 November 2024 and were signed by:


-------------------------------
David Peniket
Director
1
General Information
Churchdown Capital Ltd is a private company, limited by shares, registered in England and Wales, registration number 13516995, registration address 2 Claridge Court, Lower Kings Road, Berkhamsted, Berkhamsted, HP4 2AF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the the rental of property, the policies adopted are as follows:
  • Rental of Property: Turnover from the rental of property is recognised on an accrual basis in line with the contract in place with the tenant. Rents are recognised when due for payment.
  • Other revenue: Recognition is when it is received or when the right to receive payment is established.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the company has legal right to set off against current tax liabilities and if they both relate to income tax levied by the same taxation authority on the same entity.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.


Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Current asset investments
Current asset investments are initially recognised at cost and subsequently measured at fair value. Fair value gains and losses are included in the income statement in the period in which they arise. 
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Estimates and judgements
Preparation of the financial statements requires management to make significant judgements and estimates. The following are significant management judgements in applying the accounting policies of the group that have the most significant effect on the financial statements.
  • Valuation of investment property
As with any valuation there is an element of subjectivity, the Director has valued the investment properties based on his skill and judgement, having had extensive experience in the property sector. The Director believes the carrying value reflects the true fair market value at the date of the report taking into account all current market conditions. 

  • Going Concern
The Director has a reasonable expectation that the company has adequate resources to
continue in operational existence for the foreseeable future and, accordingly, considers that it is appropriate to adopt the going concern basis in preparing these financial statements.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees and Directors

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 April 2023 5,088    5,088 
Additions (2,469)   (2,469)
Disposals  
At 31 March 2024 2,619    2,619 
Depreciation
At 01 April 2023  
Charge for year 1,272    1,272 
On disposals  
At 31 March 2024 1,272    1,272 
Net book values
Closing balance as at 31 March 2024 1,347    1,347 
Opening balance as at 01 April 2023 2,619    2,619 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2023 1,385,783    1,385,783 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2024 1,385,783    1,385,783 
Other Investments consists of Investment Properties owned by the company. The director has reviewed the value of the properties using their skill and judgement along with relevant research on the market. The director has concluded that the assets are carried at a fair market value and no adjustment is necessary.

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
5 Ordinary A shares of £1.00 each  
5 Ordinary B shares of £1.00 each  
5 Ordinary C shares of £1.00 each  
5 Ordinary D shares of £1.00 each  
120    120 

6.

Director’s loan

Director's Loan Account

The company owed its shareholders £774,891 (2023: £774,891) at the year end by way of interest free loan, payable on demand.
2