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Registration number: 06996262

Churchtown Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Churchtown Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Churchtown Developments Limited

Company Information

Directors

Mr Paul Dennis

Mrs Suzanne Dennis

Company secretary

Mr Paul Dennis

Registered office

C/o McGinty Demack
Vermont House
Bradley Lane
Wigan
Lancashire
WN6 0XF

Accountants

McGinty Demack Limited
Chartered Certified Accountants
Vermont House
Bradley Lane
Standish
Wigan
WN6 0XF

 

Churchtown Developments Limited

(Registration number: 06996262)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

232,862

233,629

Current assets

 

Debtors

5

3,316

2,621

Cash at bank and in hand

 

157,420

163,734

 

160,736

166,355

Creditors: Amounts falling due within one year

6

(101,492)

(51,832)

Net current assets

 

59,244

114,523

Total assets less current liabilities

 

292,106

348,152

Creditors: Amounts falling due after more than one year

6

-

(28,128)

Net assets

 

292,106

320,024

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

291,106

319,024

Shareholders' funds

 

292,106

320,024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Churchtown Developments Limited

(Registration number: 06996262)
Balance Sheet as at 31 August 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 November 2024 and signed on its behalf by:
 

.........................................
Mr Paul Dennis
Company secretary and director

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/o McGinty Demack
Vermont House
Bradley Lane
Wigan
Lancashire
WN6 0XF
United Kingdom

The principal place of business is:
Bowling Green House Farm
Broadhey Lane
High Moor
Wrightington
Lancashire
WN6 9BD

These financial statements were authorised for issue by the Board on 18 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

25% Reducing balance

Motor vehicles

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Improvements to leasehold property
 £

Other tangible assets
£

Cost or valuation

At 1 September 2023

75,103

7,558

17,190

155,183

2,097

At 31 August 2024

75,103

7,558

17,190

155,183

2,097

Depreciation

At 1 September 2023

-

7,303

15,469

-

730

Charge for the year

-

64

430

-

273

At 31 August 2024

-

7,367

15,899

-

1,003

Carrying amount

At 31 August 2024

75,103

191

1,291

155,183

1,094

At 31 August 2023

75,103

255

1,721

155,183

1,367

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Total
£

Cost or valuation

At 1 September 2023

257,131

At 31 August 2024

257,131

Depreciation

At 1 September 2023

23,502

Charge for the year

767

At 31 August 2024

24,269

Carrying amount

At 31 August 2024

232,862

At 31 August 2023

233,629

Included within the net book value of land and buildings above is £75,103 (2023 - £75,103) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Other debtors

3,316

2,621

 

3,316

2,621

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

19,551

28,897

Taxation and social security

 

9,447

7,399

Accruals and deferred income

 

926

780

Other creditors

 

71,568

14,756

 

101,492

51,832

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

28,128

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

-

28,128

 

Churchtown Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

19,551

28,897