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REGISTERED NUMBER: 07067232 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Steve Chadwick Residential Lettings
Limited
T/A
Martin & Co (Hinckley)

Steve Chadwick Residential Lettings
Limited (Registered number: 07067232)
T/A Martin & Co (Hinckley)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Steve Chadwick Residential Lettings
Limited
T/A Martin & Co (Hinckley)

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S A Chadwick





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW





REGISTERED NUMBER: 07067232 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Steve Chadwick Residential Lettings
Limited (Registered number: 07067232)
T/A Martin & Co (Hinckley)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 97,573 108,681
Tangible assets 5 63,074 81,920
Investments 6 - 6,065
160,647 196,666

CURRENT ASSETS
Debtors 7 37,104 59,760
Cash at bank - 1,501
37,104 61,261
CREDITORS
Amounts falling due within one year 8 (166,096 ) (182,202 )
NET CURRENT LIABILITIES (128,992 ) (120,941 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,655

75,725

CREDITORS
Amounts falling due after more than one
year

9

(11,072

)

(40,683

)

PROVISIONS FOR LIABILITIES (5,339 ) (7,638 )
NET ASSETS 15,244 27,404

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 12,209 26,955
Retained earnings 2,935 349
SHAREHOLDERS' FUNDS 15,244 27,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Steve Chadwick Residential Lettings
Limited (Registered number: 07067232)
T/A Martin & Co (Hinckley)

Balance Sheet - continued
31 March 2024


The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





S A Chadwick - Director


Steve Chadwick Residential Lettings
Limited (Registered number: 07067232)
T/A Martin & Co (Hinckley)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Steve Chadwick Residential Lettings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern
At the year end the company has net current liabilities of £128,992 (2023: £120,941). It is dependent on the continued support of the director for the continuance of trade. The director intends to continue with such support. On that basis the director considers it appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amounts paid in connection with the acquisition of several businesses in 2012, 2015 and 2018 are being amortised evenly over its estimated useful life of 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

The value of the Long leasehold asset is assessed annually and carried at fair value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

Steve Chadwick Residential Lettings
Limited (Registered number: 07067232)
T/A Martin & Co (Hinckley)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Fixed asset investments are measured at market value, any aggregate surplus or deficit arising from changes in market value are included in the profit and loss account for the period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
Goodwill fee Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 252,171 18,500 270,671
AMORTISATION
At 1 April 2023 143,490 18,500 161,990
Amortisation for year 11,108 - 11,108
At 31 March 2024 154,598 18,500 173,098
NET BOOK VALUE
At 31 March 2024 97,573 - 97,573
At 31 March 2023 108,681 - 108,681

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Long to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 75,000 13,484 21,880 5,806 116,170
Revaluations (17,000 ) - - - (17,000 )
At 31 March 2024 58,000 13,484 21,880 5,806 99,170
DEPRECIATION
At 1 April 2023 - 9,993 19,110 5,147 34,250
Charge for year - 698 692 456 1,846
At 31 March 2024 - 10,691 19,802 5,603 36,096
NET BOOK VALUE
At 31 March 2024 58,000 2,793 2,078 203 63,074
At 31 March 2023 75,000 3,491 2,770 659 81,920

Steve Chadwick Residential Lettings
Limited (Registered number: 07067232)
T/A Martin & Co (Hinckley)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

The director, a qualified surveyor, has valued the Long leasehold asset at 31 March 2024 on an open market value basis.

Cost or valuation at 31 March 2024 is represented by:

Improvements Fixtures
Long to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
Valuation in 2017 28,228 - - - 28,228
Valuation in 2021 5,050 - - - 5,050
Valuation in 2024 (17,000 ) - - - (17,000 )
Cost 41,722 13,484 21,880 5,806 82,892
58,000 13,484 21,880 5,806 99,170

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1 April 2023 6,065
Disposals (6,065 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 6,065


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 120 2,160
Other debtors 36,984 57,600
37,104 59,760

Other debtors includes prepayments and accrued income of £3,530 (2023: £3,520).

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 30,212 33,515
Trade creditors 7,486 5,789
Taxation and social security 27,903 36,191
Other creditors 100,495 106,707
166,096 182,202

Steve Chadwick Residential Lettings
Limited (Registered number: 07067232)
T/A Martin & Co (Hinckley)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Other creditors includes accruals and deferred income of £7,831 (2023: £7,243).

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 10,517 25,566
Other creditors 555 15,117
11,072 40,683

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 19,976 20,200
Bank loan - 6,517
19,976 26,717

The bank overdraft and loan are secured against the assets of the company.