REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
CHARLES ELLIOTT ASSETS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
CHARLES ELLIOTT ASSETS LIMITED |
CHARLES ELLIOTT ASSETS LIMITED (REGISTERED NUMBER: 13136220) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CHARLES ELLIOTT ASSETS LIMITED |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 & 2 Studley Court Mews |
Studley Court |
Guildford Road |
Chobham |
Surrey |
GU24 8EB |
CHARLES ELLIOTT ASSETS LIMITED (REGISTERED NUMBER: 13136220) |
Balance Sheet |
31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
CHARLES ELLIOTT ASSETS LIMITED (REGISTERED NUMBER: 13136220) |
Balance Sheet - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
CHARLES ELLIOTT ASSETS LIMITED (REGISTERED NUMBER: 13136220) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Charles Elliott Assets Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
The directors have considered the requirement for the financial statements to present a true and fair view in accordance with applicable accounting standards. Under FRS 102, investment property should be measured at fair value at each reporting date where this can be reliably determined without undue cost or effort. |
For the current reporting period, the directors have not obtained an external valuation of the investment property, as they believe that obtaining such a valuation would involve disproportionate cost and effort. Instead, the directors have assessed the carrying value based on their knowledge of the property market, recent comparable transactions, and other relevant information. |
The directors are satisfied that the carrying value of the investment property continues to reflect its fair value and that the financial statements remain free from material misstatement in this regard. |
Taxation |
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current 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. |
Going concern |
The financial statements have been prepared on a going concern basis. The directors have assessed the company’s ability to continue as a going concern and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements do not include any adjustments that would be necessary if the company were unable to continue as a going concern. |
Turnover |
Rental income from investment property is recognised on a straight-line basis over the term of the lease in accordance with the accruals principle. Lease incentives granted or received are recognised as an adjustment to rental income on a straight-line basis over the lease term. |
Income is recognised only when it is probable that the economic benefits associated with the transaction will flow to the company and the amount of income can be measured reliably. |
CHARLES ELLIOTT ASSETS LIMITED (REGISTERED NUMBER: 13136220) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/24 | 31/3/23 |
value: | £ | £ |
Ordinary | £60 | 60 | 60 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2023 | ( |
) |
Profit for the year |
At 31 March 2024 | ( |
) |
CHARLES ELLIOTT ASSETS LIMITED (REGISTERED NUMBER: 13136220) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr R King. |