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Company Registration No. 10789985 (England and Wales)
Charnley Property Limited Unaudited accounts for the year ended 29 April 2024
Charnley Property Limited Unaudited accounts Contents
Page
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Charnley Property Limited Company Information for the year ended 29 April 2024
Director
Peter Charnley
Company Number
10789985 (England and Wales)
Registered Office
Hare House 732 Whittingham Lane Preston PR3 2JJ
Accountants
The Tax Farm Hare House 732 Whittingham Lane Preston PR3 2JJ
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Charnley Property Limited Statement of financial position as at 29 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
1,115,000 
980,000 
Current assets
Debtors
152,514 
147,538 
Cash at bank and in hand
221,043 
193,393 
373,557 
340,931 
Creditors: amounts falling due within one year
(397,751)
(391,023)
Net current liabilities
(24,194)
(50,092)
Total assets less current liabilities
1,090,806 
929,908 
Creditors: amounts falling due after more than one year
(474,754)
(485,843)
Provisions for liabilities
Deferred tax
(116,760)
(83,010)
Net assets
499,292 
361,055 
Capital and reserves
Called up share capital
20 
20 
Profit and loss account
499,272 
361,035 
Shareholders' funds
499,292 
361,055 
For the year ending 29 April 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 17 January 2025 and were signed on its behalf by
Peter Charnley Director Company Registration No. 10789985
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Charnley Property Limited Notes to the Accounts for the year ended 29 April 2024
1
Statutory information
Charnley Property Limited is a private company, limited by shares, registered in England and Wales, registration number 10789985. The registered office is Hare House, 732 Whittingham Lane, Preston, PR3 2JJ.
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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Turnover
Turnover represents amounts receivable for rents and goods and services net of VAT and trade discounts.
4
Investment property
2024 
£ 
Fair value at 30 April 2023
980,000 
Net gain from fair value adjustments
135,000 
At 29 April 2024
1,115,000 
The fair values of the investment properties have been arrived at on the basis of a valuation carried out by the directors at the year end.
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Charnley Property Limited Notes to the Accounts for the year ended 29 April 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
5,773 
797 
Other debtors
146,741 
146,741 
152,514 
147,538 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,134 
10,134 
Taxes and social security
12,328 
9,825 
Other creditors
21,902 
17,989 
Loans from directors
353,387 
353,075 
397,751 
391,023 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
474,754 
485,843 
8
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of investment property
116,760 
83,010 
2024 
2023 
£ 
£ 
Provision at start of year
83,010 
67,106 
Charged to the profit and loss account
33,750 
15,904 
Provision at end of year
116,760 
83,010 
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Charnley Property Limited Notes to the Accounts for the year ended 29 April 2024
9
Transactions with related parties
The following amounts were outstanding at the reporting end date: Amounts due from related parties P&D Property (Oldham) Limited £3,500 (2023 - £3,500) 60 Church Street Limited £142,541 (2023 - £142,541) Lancaster Properties Lettings Limited £400 (2023 - £400) D&P Lancaster Limited £300 (2023 - £300) The amount outstanding from P&D Property (Oldham) Limited, a company in which Mr P. Charnley is a director and shareholder, is in respect of a loan. No interest was charged on the loan during the period. The amount outstanding from 60 Church Street Limited, a company in which Mr P. Charnley is a director and shareholder, is in respect of a loan. No interest was charged on the loan during the period. The amount outstanding from Lancaster Property Lettings Limited, a company in which Mr P. Charnley is a director and shareholder, is in respect of a loan. No interest was charged on the loan during the period. The amount outstanding from D&P Lancaster Limited, a company in which Mr P. Charnley is a director and shareholder, is in respect of a loan. No interest was charged on the loan during the period.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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