IRIS Accounts Production v24.3.2.46 08993312 Board of Directors 31.5.23 30.5.24 30.5.24 4/2/2025 false true false false true false Auditors Opinion Ordinary 0.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089933122023-05-30089933122024-05-30089933122023-05-312024-05-30089933122022-05-30089933122022-05-312023-05-30089933122023-05-3008993312ns15:EnglandWales2023-05-312024-05-3008993312ns14:PoundSterling2023-05-312024-05-3008993312ns10:Director12023-05-312024-05-3008993312ns10:PrivateLimitedCompanyLtd2023-05-312024-05-3008993312ns10:SmallEntities2023-05-312024-05-3008993312ns10:Audited2023-05-312024-05-3008993312ns10:SmallCompaniesRegimeForDirectorsReport2023-05-312024-05-3008993312ns10:SmallCompaniesRegimeForAccounts2023-05-312024-05-3008993312ns10:FullAccounts2023-05-312024-05-3008993312ns10:OrdinaryShareClass22023-05-312024-05-3008993312ns10:Director22023-05-312024-05-3008993312ns10:Director32023-05-312024-05-3008993312ns10:Director52023-05-312024-05-3008993312ns10:Director62023-05-312024-05-3008993312ns10:CompanySecretary12023-05-312024-05-3008993312ns10:RegisteredOffice2023-05-312024-05-3008993312ns5:CurrentFinancialInstruments2024-05-3008993312ns5:CurrentFinancialInstruments2023-05-3008993312ns5:ShareCapital2024-05-3008993312ns5:ShareCapital2023-05-3008993312ns5:CapitalRedemptionReserve2024-05-3008993312ns5:CapitalRedemptionReserve2023-05-3008993312ns5:ComputerEquipment2023-05-3008993312ns5:ComputerEquipment2023-05-312024-05-3008993312ns5:ComputerEquipment2024-05-3008993312ns5:ComputerEquipment2023-05-3008993312ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3008993312ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3008993312ns10:OrdinaryShareClass22024-05-30
REGISTERED NUMBER: 08993312 (England and Wales)













CRANBORNE CHASE ASSET FINANCE LTD

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MAY 2024






CRANBORNE CHASE ASSET FINANCE LTD (REGISTERED NUMBER: 08993312)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CRANBORNE CHASE ASSET FINANCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MAY 2024







DIRECTORS: Sheikh M B E B M Al Khalifa
Mr C W Griffiths
Mr E M Thomas
Mr J V S Lee
Mr P Redelinghuys





SECRETARY: Mr E M Thomas





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 08993312 (England and Wales)





AUDITORS: Rawlinson & Hunter Audit LLP
Statutory Auditor, Chartered Accountants
Eighth Floor, 6 New Street Square
New Fetter Lane
London
EC4A 3AQ

CRANBORNE CHASE ASSET FINANCE LTD (REGISTERED NUMBER: 08993312)

BALANCE SHEET
30 MAY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 2,086 3,219
Investments 5 - -
2,086 3,219

CURRENT ASSETS
Debtors 6 83,523 104,305
Cash at bank 93,242 97,801
176,765 202,106
CREDITORS
Amounts falling due within one year 7 61,566 101,028
NET CURRENT ASSETS 115,199 101,078
TOTAL ASSETS LESS CURRENT LIABILITIES 117,285 104,297

CAPITAL AND RESERVES
Called up share capital 8 20 100
Capital redemption reserve 80 -
Retained earnings 117,185 104,197
SHAREHOLDERS' FUNDS 117,285 104,297

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2025 and were signed on its behalf by:





Mr E M Thomas - Director


CRANBORNE CHASE ASSET FINANCE LTD (REGISTERED NUMBER: 08993312)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024


1. STATUTORY INFORMATION

Cranborne Chase Asset Finance Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, based on services rendered and in accordance with underlying contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment 33.3%

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Investments in jointly controlled entities
Investments in jointly controlled entities are recognised at cost less impairment.

CRANBORNE CHASE ASSET FINANCE LTD (REGISTERED NUMBER: 08993312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2024


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS 102 Section 1A requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements that have been made in arriving at the amounts recognised in the financial statements and the key areas of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities in the financial statements are noted below;

(i) Carrying value of investments in jointly controlled entities

In line with the accounting policy, the investment in the jointly controlled entity is held at cost less impairment, in line with FRS 102. The company estimates the recoverable amount of the investment and whether this is lower than the cost it is held at in the financial statements. When assessing the carrying value, management considers factors such as current and forecast financial performance, the appropriateness of discount factors used, as well as projected net asset values.

In 2022, the company recognised a 100% impairment of the investment. During the prior period, 50% of the impairment value was reimbursed by the joint venture partner and credited to the income statement. As of the current year, the investment remains fully impaired, with no further changes to its valuation or additional reimbursements received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 31 May 2023 12,337
Additions 939
At 30 May 2024 13,276
DEPRECIATION
At 31 May 2023 9,118
Charge for year 2,072
At 30 May 2024 11,190
NET BOOK VALUE
At 30 May 2024 2,086
At 30 May 2023 3,219

5. FIXED ASSET INVESTMENTS

The company has a 50% partnership in a joint venture, Swallowcliffe Finance Limited ("SFL"). The joint venture is held at a carrying value of £nil (2023 - £nil).

The initial cost of Cranborne Chase share in the joint venture prior to recognizing the impairment amounted to £68,364.

CRANBORNE CHASE ASSET FINANCE LTD (REGISTERED NUMBER: 08993312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 83,523 104,305

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 18,589 48,875
Taxation and social security 10,859 11,755
Other creditors 32,118 40,398
61,566 101,028

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
200 Ordinary 10p 20 100

On 21 May 2024, the company purchased 600 ordinary shares at a purchase price of £1 per share from Star Capital Investments Europe SARL and 200 ordinary shares at a purchase price of £1 per share from Charles Keay. These shares were cancelled following the purchase and resulted in the reduction of the company's issued share capital.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

William Watson (Senior Statutory Auditor)
for and on behalf of Rawlinson & Hunter Audit LLP

10. ULTIMATE CONTROLLING PARTY

Prior to the share purchase, as outlined in the called up share capital disclosure note above, Star Capital Investments Europe SARL was the ultimate parent company. Following the transaction and cancellation of shares, the ultimate controlling party of the company is the director, Mr E M Thomas.