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Company Registration No. 12371300 (England and Wales)
Chardale Country Homes Limited Unaudited accounts for the year ended 31 March 2024
Chardale Country Homes Limited Unaudited accounts Contents
Page
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Chardale Country Homes Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Debtors
1,605,654 
1,956,424 
Cash at bank and in hand
5,022 
151,906 
1,610,676 
2,108,330 
Creditors: amounts falling due within one year
(12,306)
(511,473)
Net current assets
1,598,370 
1,596,857 
Net assets
1,598,370 
1,596,857 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,598,270 
1,596,757 
Shareholders' funds
1,598,370 
1,596,857 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Michael Charles Clippingdale Director Company Registration No. 12371300
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Chardale Country Homes Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Chardale Country Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 12371300. The registered office is c/o Nicholson & Morgan, Solicitors, 14 Bell Villas, Ponteland, Newcastle upon Tyne, NE20 9BE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
In respect of property development, which is the speculative construction of residential properties for sale, turnover is recognised at legal completion in respect of the total proceeds of building and development. Turnover is measured at the fair value of consideration received or receivable for the property, net of discounts and VAT.
Inventories
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost of work in progress comprises direct materials, direct and sub-contract labour and those direct overheads that have been incurred in bringing the inventories to their present location and condition. Land held for development, which was acquired from the company's parent undertaking on a no gain/no loss basis for tax purposes, is recorded at cost less the held-over gain. The held-over gain is carried as a current asset and will be released to profit and loss as a non-allowable expense for tax purposes as the land is sold. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price, less estimated costs to complete and sell, is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit and loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Chardale Country Homes Limited Notes to the Accounts for the year ended 31 March 2024
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all 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.
Finance costs and income
The company recognises finance costs and income on bank borrowings, deposits and other borrowings in the Income Statement in the period to which they relate.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
84 
283 
Trade debtors
5,060 
5,494 
Amounts due from group undertakings etc.
1,600,000 
1,950,000 
Other debtors
510 
647 
1,605,654 
1,956,424 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,630 
760 
Taxes and social security
387 
340,513 
Accruals
10,289 
170,200 
12,306 
511,473 
6
Transactions with related parties
Included within debtors: amounts falling due within one year is a loan of £1,600,000 (2023: £1,950,000) to the company's parent company. The loan is interest-free and is repayable on demand.
7
Controlling party
The company's parent undertaking is Pigdon Farm Limited, whose place of business and registered office is 14 Bell Villas, Ponteland, Newcastle upon Tyne, NE20 9BE.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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