Company Registration No. 04331655 (England and Wales)
Chelmer & Blackwater Properties Limited
Annual report and unaudited financial statements
for the year ended 30 April 2024
Chelmer & Blackwater Properties Limited
Company information
Directors
S P Marriage
W F Marriage
C P Jacobs
R S Porter
N B Edwards
Secretary
N B Edwards
Company number
04331655
Registered office
The Navigation Office Paper Mill Lock
North Hill, Little Baddow
Chelmsford
Essex
CM3 4BS
Accountants
Saffery LLP
St John's Court
Easton Street
High Wycombe
HP11 1JX
Chelmer & Blackwater Properties Limited
Contents
Page
Directors' report
1
Accountants' report
2
Income statement
3
Statement of financial position
4
Notes to the financial statements
5 - 7
Chelmer & Blackwater Properties Limited
Directors' report
For the year ended 30 April 2024
1
The directors present their annual report and financial statements for the year ended 30 April 2024.
Principal activities
The principal activity of the company continued to be that of holding land and property.
On 8 April 2024, all property owned by the company was transferred to its parent company at book value of £240,000. At the balance sheet date the company has no assets or liabilities and will remain dormant.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
S P Marriage
W F Marriage
C P Jacobs
R S Porter
N B Edwards
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
N B Edwards
Director
13 January 2025
Chelmer & Blackwater Properties Limited
Accountants' report to the Board of Directors on the preparation of the unaudited statutory financial statements of Chelmer & Blackwater Properties Limited for the year ended 30 April 2024
2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chelmer & Blackwater Properties Limited for the year ended 30 April 2024 set out on pages 3 to 7 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulation.
This report is made solely to the Board of Directors of Chelmer & Blackwater Properties Limited, as a body, in accordance with the terms of our engagement letter dated 6 August 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Chelmer & Blackwater Properties Limited and state those matters that we have agreed to state to the Board of Directors of Chelmer & Blackwater Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chelmer & Blackwater Properties Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Chelmer & Blackwater Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chelmer & Blackwater Properties Limited. You consider that Chelmer & Blackwater Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Chelmer & Blackwater Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Saffery LLP
16 January 2025
St John's Court
Easton Street
High Wycombe
HP11 1JX
Chelmer & Blackwater Properties Limited
Income statement
For the year ended 30 April 2024
3
2024
2023
£
£
Turnover
-
-
Release of inter-company loan
74,592
Profit before taxation
74,592
Tax on profit
Profit for the financial year
74,592
Chelmer & Blackwater Properties Limited
Statement of financial position
As at 30 April 2024
4
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
240,000
Current assets
Cash at bank and in hand
2
Creditors: amounts falling due within one year
4
(314,594)
Net current liabilities
(314,592)
Net assets/(liabilities)
(74,592)
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(1)
(74,593)
Total equity
(74,592)
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 13 January 2025 and are signed on its behalf by:
N B Edwards
Director
Company Registration No. 04331655
Chelmer & Blackwater Properties Limited
Notes to the financial statements
For the year ended 30 April 2024
5
1
Accounting policies
Company information
Chelmer & Blackwater Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Navigation Office Paper Mill Lock, North Hill, Little Baddow, Chelmsford, Essex, CM3 4BS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Nil
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position 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.
Chelmer & Blackwater Properties Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
1
Accounting policies (continued)
6
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
Chelmer & Blackwater Properties Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
7
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 May 2023
240,000
Disposals
(240,000)
At 30 April 2024
Depreciation and impairment
At 1 May 2023 and 30 April 2024
Carrying amount
At 30 April 2024
At 30 April 2023
240,000
The fixed assets represent the freehold property of Chelmer & Blackwater Properties Limited stated at historic cost of £240,000 less accumulated depreciation of £0. The directors have decided not to depreciate the assets. The property is subject to a management agreement with Essex Waterways Limited. Because of this, the fixed assets of the company are not readily realisable.
On 8 April 2024, all property owned by the company was transferred to The Company of Proprietors of the Chelmer and Blackwater Navigation Limited, its parent company, at book value of £240,000.
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
314,594
At the beginning of the year, a Promissory Note of £314,594 was due to The Company of Proprietors of Chelmer and Blackwater Navigation Limited, the parent company. On 8 April 2024, £240,000 has been settled via property transfer and the remaining balance was waived by a formal deed of release.
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
6
Parent company
The parent company is The Company of Proprietors of the Chelmer and Blackwater Navigation Limited.