Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Mr R J Harfield 10/05/2001 Mrs A Harfield 10/05/2001 Mr C D Harfield 10/05/2001 20 February 2025 The principal activity of the company continued to be that of management and letting of property. 04210141 2024-05-31 04210141 bus:Director1 2024-05-31 04210141 bus:Director2 2024-05-31 04210141 bus:Director3 2024-05-31 04210141 2023-05-31 04210141 core:CurrentFinancialInstruments 2024-05-31 04210141 core:CurrentFinancialInstruments 2023-05-31 04210141 core:ShareCapital 2024-05-31 04210141 core:ShareCapital 2023-05-31 04210141 core:RetainedEarningsAccumulatedLosses 2024-05-31 04210141 core:RetainedEarningsAccumulatedLosses 2023-05-31 04210141 2023-06-01 2024-05-31 04210141 bus:FilletedAccounts 2023-06-01 2024-05-31 04210141 bus:SmallEntities 2023-06-01 2024-05-31 04210141 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04210141 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04210141 bus:Director1 2023-06-01 2024-05-31 04210141 bus:Director2 2023-06-01 2024-05-31 04210141 bus:Director3 2023-06-01 2024-05-31 04210141 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Company No: 04210141 (England and Wales)

CHERITON PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

CHERITON PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

CHERITON PROPERTIES LIMITED

BALANCE SHEET

As at 31 May 2024
CHERITON PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 777,000 777,000
777,000 777,000
Current assets
Debtors 4 322,538 318,453
Cash at bank and in hand 33,472 25,955
356,010 344,408
Creditors: amounts falling due within one year 5 ( 594,950) ( 595,138)
Net current liabilities (238,940) (250,730)
Total assets less current liabilities 538,060 526,270
Provision for liabilities 6 ( 40,576) ( 40,576)
Net assets 497,484 485,694
Capital and reserves
Called-up share capital 4 4
Profit and loss account 497,480 485,690
Total shareholders' funds 497,484 485,694

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Cheriton Properties Limited (registered number: 04210141) were approved and authorised for issue by the Board of Directors on 20 February 2025. They were signed on its behalf by:

Mr R J Harfield
Director
Mr C D Harfield
Director
CHERITON PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
CHERITON PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cheriton Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 180-198 St Georges Road, Bolton, BL1 2PH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents rental income relating to the year and, as such, income is adjusted for deferred and
accrued amounts for rentals received in advance or arrears.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as
reported in the profit and loss account because it excludes items of income or expense that are taxable or
deductible in other years and it further excludes items that are never taxable or deductible. The company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the
reporting end date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Investment property

Investment property
£
Valuation
As at 01 June 2023 777,000
As at 31 May 2024 777,000

The directors consider the property to be stated at its approximate fair value at the balance sheet date.
The original combined cost of the properties concerned is £384,907.

4. Debtors

2024 2023
£ £
Other debtors 322,538 318,453

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 2,766 3,047
Other creditors 592,184 592,091
594,950 595,138

6. Provision for liabilities

2024 2023
£ £
Deferred tax 40,576 40,576