Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr J C Milford 07/02/1991 21 November 2024 The principal activity of the company during the financial year was that of estate management and development. 00975527 2024-03-31 00975527 bus:Director1 2024-03-31 00975527 2023-03-31 00975527 core:CurrentFinancialInstruments 2024-03-31 00975527 core:CurrentFinancialInstruments 2023-03-31 00975527 core:Non-currentFinancialInstruments 2024-03-31 00975527 core:Non-currentFinancialInstruments 2023-03-31 00975527 core:ShareCapital 2024-03-31 00975527 core:ShareCapital 2023-03-31 00975527 core:RetainedEarningsAccumulatedLosses 2024-03-31 00975527 core:RetainedEarningsAccumulatedLosses 2023-03-31 00975527 core:OtherPropertyPlantEquipment 2023-03-31 00975527 core:OtherPropertyPlantEquipment 2024-03-31 00975527 core:CurrentFinancialInstruments core:Secured 2024-03-31 00975527 bus:OrdinaryShareClass1 2024-03-31 00975527 2023-04-01 2024-03-31 00975527 bus:FilletedAccounts 2023-04-01 2024-03-31 00975527 bus:SmallEntities 2023-04-01 2024-03-31 00975527 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00975527 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00975527 bus:Director1 2023-04-01 2024-03-31 00975527 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00975527 2022-04-01 2023-03-31 00975527 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 00975527 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 00975527 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00975527 (England and Wales)

CHARDSTOCK MANOR ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CHARDSTOCK MANOR ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CHARDSTOCK MANOR ESTATES LIMITED

BALANCE SHEET

As at 31 March 2024
CHARDSTOCK MANOR ESTATES LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 689 861
Investment property 4 3,508,418 3,325,705
3,509,107 3,326,566
Current assets
Debtors 5 2,286 6,878
Cash at bank and in hand 16,616 11,645
18,902 18,523
Creditors: amounts falling due within one year 6 ( 133,603) ( 131,869)
Net current liabilities (114,701) (113,346)
Total assets less current liabilities 3,394,406 3,213,220
Creditors: amounts falling due after more than one year 7 ( 31,622) ( 46,234)
Provision for liabilities ( 668,700) ( 623,000)
Net assets 2,694,084 2,543,986
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 2,693,984 2,543,886
Total shareholder's funds 2,694,084 2,543,986

For the financial 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.

Director's responsibilities:

The financial statements of Chardstock Manor Estates Limited (registered number: 00975527) were approved and authorised for issue by the Director on 21 November 2024. They were signed on its behalf by:

Mr J C Milford
Director
CHARDSTOCK MANOR ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CHARDSTOCK MANOR ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chardstock Manor Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The Company's registered office and principal place of business is The Court, Chardstock, Axminster, EX13 7BS, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Rental income is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the tenant. Rental income from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 14,067 14,067
At 31 March 2024 14,067 14,067
Accumulated depreciation
At 01 April 2023 13,206 13,206
Charge for the financial year 172 172
At 31 March 2024 13,378 13,378
Net book value
At 31 March 2024 689 689
At 31 March 2023 861 861

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 3,325,705
Fair value movement 182,713
As at 31 March 2024 3,508,418

The investment property has been valued at 31 March 2024 by a director of the company. There has been no valuation of the investment property carried out via an independent valuer.

5. Debtors

2024 2023
£ £
Trade debtors 1,950 6,374
Prepayments 336 504
2,286 6,878

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 14,657 13,884
Amounts owed to director 110,778 109,378
Accruals 3,112 3,308
Taxation and social security 5,056 5,299
133,603 131,869

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 31,622 46,234

The company's loans are secured against the freehold property owned by the company.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

As at 31 March 2024 the profit and loss account included £2,330,406 (2023 - £2,193,493) of non-distributable reserves. This relates to the revaluation surplus on investment properties, after taking into account deferred taxation on this revaluation surplus.