2023-07-012024-06-302024-06-30false00483305Chartres Investment Company 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Chartres Investment Company Limited

Registered Number
00483305
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

Chartres Investment Company Limited
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

S J Dickinson
A Parsons
J M Rainbow

Registered Address

C/O Armstrong Watson 1st Floor
One Strawberry Lane
Newcastle Upon Tyne
NE1 4BX

Registered Number

00483305 (England and Wales)
Chartres Investment Company Limited
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments4402,180361,522
Investment property35,205,0006,519,274
5,607,1806,880,796
Current assets
Debtors5105,487140,420
Cash at bank and on hand353,425222,983
458,912363,403
Creditors amounts falling due within one year6(343,372)(499,368)
Net current assets (liabilities)115,540(135,965)
Total assets less current liabilities5,722,7206,744,831
Creditors amounts falling due after one year7(593,771)(1,067,280)
Net assets5,128,9495,677,551
Capital and reserves
Called up share capital15,00015,000
Profit and loss account5,113,9495,662,551
Shareholders' funds85,128,9495,677,551
The financial statements were approved and authorised for issue by the Board of Directors on 27 November 2024, and are signed on its behalf by:
S J Dickinson
Director
Registered Company No. 00483305
Chartres Investment Company Limited
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents the amount derived from the letting of freehold and leasehold properties and is stated after the deduction of value added tax, where appropriate. Lease incentives are allocated over the period of the lease.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investments
Listed investments are measured at fair value where the difference between cost and fair value is material. Changes in fair value are included in the Income Statement.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is revalued to its fair value at each reporting date and any changes in fair value are recognised in the income statement.
2.Average number of employees

20242023
Average number of employees during the year32
3.Investment property
The investment properties were valued by the directors at 30 June 2024, at market value for existing use. On a historical cost basis these would have been included at an original cost of £6,581,203 (2023:£7,522,812).

£
Fair value at 01 July 236,519,274
Disposals(625,000)
Fair value adjustments(689,274)
At 30 June 245,205,000
4.Fixed asset investments
The company holds investments in listed instruments. The fair value of these investments has been determined based on the quoted market price at the balance sheet date.

Other investments1

Total

££
Cost or valuation
At 01 July 23361,522361,522
Additions60,35760,357
Revaluations39,06739,067
Disposals(58,766)(58,766)
At 30 June 24402,180402,180
Net book value
At 30 June 24402,180402,180
At 30 June 23361,522361,522

Notes

1Other investments other than loans
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables40,24359,365
Other debtors1,667872
Prepayments and accrued income63,57780,183
Total105,487140,420
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables56,0054,457
Bank borrowings and overdrafts54,947216,456
Taxation and social security59,42695,109
Other creditors35,48733,960
Accrued liabilities and deferred income137,507149,386
Total343,372499,368
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts593,7711,067,280
Total593,7711,067,280
The bank loan is repayable in quarterly instalments at an interest rate of 2.4295% over the Bank of England base rate. The bank loans are secured by charges held over all of the freehold properties held within the company portfolio.
8.Fair value reserve
Included within the profit and loss account is a non-distributable revaluation reserve. This reserve records the cumulative fair value movements on investment properties and equity investments valued above original cost.

£
Fair value reserve at 01 July 23840,922
Transferred in period(178,677)
At 30 June 24662,245