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Registration number: 01888347

Churchgate Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Churchgate Developments Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Churchgate Developments Limited

(Registration number: 01888347)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

164

218

Investments

5

100

100

 

264

318

Current assets

 

Debtors

6

1,128,235

1,116,623

Cash at bank and in hand

 

87,816

202,104

 

1,216,051

1,318,727

Creditors: Amounts falling due within one year

7

(962,970)

(979,222)

Net current assets

 

253,081

339,505

Net assets

 

253,345

339,823

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

252,345

338,823

Shareholders' funds

 

253,345

339,823

 

Churchgate Developments Limited

(Registration number: 01888347)
Statement of Financial Position as at 31 August 2024 (continued)

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.

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 13 February 2025 and signed on its behalf by:
 


Mr J W Crowther
Director

 

Churchgate 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 and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

Principal activity

The principal activity of the company is home building, estates development and building contractors.

2

Accounting policies

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

 

Churchgate Developments Limited

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

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Churchgate Developments Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 September 2023

291

291

At 31 August 2024

291

291

Depreciation

At 1 September 2023

73

73

Charge for the year

54

54

At 31 August 2024

127

127

Carrying amount

At 31 August 2024

164

164

At 31 August 2023

218

218

 

Churchgate Developments Limited

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

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 September 2023

100

Provision

Carrying amount

At 31 August 2024

100

At 31 August 2023

100

6

Debtors

2024
£

2023
£

Trade debtors

9,050

-

Amounts owed by related parties

1,062,172

1,060,336

Other debtors

56,904

56,184

Prepayments

109

103

1,128,235

1,116,623

 

Churchgate Developments Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

22,457

16,559

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9,521

11,598

Taxation and social security

-

314

Accruals and deferred income

4,055

5,055

Other creditors

926,937

945,696

962,970

979,222

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Director

(85,140)

20,506

(1,747)

(66,381)

         
       

 

2023

At 1 September 2022
£

Advances to director
£

At 31 August 2023
£

Director

(83,016)

(2,124)

(85,140)