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REGISTERED NUMBER: 13136220 (England and Wales)















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: Mr R King





REGISTERED OFFICE: 1 & 2 Studley Court Mews
Studley Court
Guildford Road
Chobham
Surrey
GU24 8EB





REGISTERED NUMBER: 13136220 (England and Wales)





ACCOUNTANTS: THB LLP
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 4 191,168 191,168

CURRENT ASSETS
Cash at bank 27,346 20,229

CREDITORS
Amounts falling due within one year 5 195,919 191,714
NET CURRENT LIABILITIES (168,573 ) (171,485 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,595

19,683

CREDITORS
Amounts falling due after more than one year 6 59,700 59,700
NET LIABILITIES (37,105 ) (40,017 )

CAPITAL AND RESERVES
Called up share capital 7 60 60
Retained earnings 8 (37,165 ) (40,077 )
SHAREHOLDERS' FUNDS (37,105 ) (40,017 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2025 and were signed by:





Mr R King - Director


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 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.

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 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 191,168
NET BOOK VALUE
At 31 March 2024 191,168
At 31 March 2023 191,168

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other creditors 195,919 191,714

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 59,700 59,700

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 59,700 59,700

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
60 Ordinary £60 60 60

8. RESERVES
Retained
earnings
£   

At 1 April 2023 (40,077 )
Profit for the year 2,912
At 31 March 2024 (37,165 )

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.