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REGISTERED NUMBER: 04592489 (England and Wales)











Chelmsford Properties Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024






Chelmsford Properties Limited (Registered number: 04592489)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Chelmsford Properties Limited

Company Information
for the Year Ended 30 November 2024







Directors: Mrs S M Nyari
J F Nyari





Secretary: S M Nyari





Registered office: Woodhouse
Woodhouse Lane
Little Waltham
Chelmsford
Essex
CM3 3PW





Registered number: 04592489 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Chelmsford Properties Limited (Registered number: 04592489)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £   
Fixed assets
Tangible assets 4 1,654 2,205
Investment property 5 2,630,000 2,630,000
2,631,654 2,632,205

Current assets
Debtors 6 21,299 19,511
Cash at bank 18,593 52,947
39,892 72,458
Creditors
Amounts falling due within one year 7 (444,700 ) (365,381 )
Net current liabilities (404,808 ) (292,923 )
Total assets less current liabilities 2,226,846 2,339,282

Creditors
Amounts falling due after more than one
year

8

(524,567

)

(664,567

)

Provisions for liabilities 10 (46,148 ) (46,148 )
Net assets 1,656,131 1,628,567

Chelmsford Properties Limited (Registered number: 04592489)

Balance Sheet - continued
30 November 2024

30.11.24 30.11.23
Notes £    £   
Capital and reserves
Called up share capital 11 2 2
Fair value reserve 12 979,392 979,392
Retained earnings 676,737 649,173
Shareholders' funds 1,656,131 1,628,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by:





J F Nyari - Director


Chelmsford Properties Limited (Registered number: 04592489)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. Statutory information

Chelmsford Properties 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.


Chelmsford Properties Limited (Registered number: 04592489)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred 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 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.

3. Employees and directors

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

4. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 December 2023
and 30 November 2024 53,086 18,996 2,626 74,708
Depreciation
At 1 December 2023 52,794 17,095 2,614 72,503
Charge for year 73 475 3 551
At 30 November 2024 52,867 17,570 2,617 73,054
Net book value
At 30 November 2024 219 1,426 9 1,654
At 30 November 2023 292 1,901 12 2,205

5. Investment property
Total
£   
Fair value
At 1 December 2023
and 30 November 2024 2,630,000
Net book value
At 30 November 2024 2,630,000
At 30 November 2023 2,630,000

Chelmsford Properties Limited (Registered number: 04592489)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. Investment property - continued

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2024 2,630,000

If investment properties had not been revalued they would have been included at the following historical cost:

30.11.24 30.11.23
£    £   
Cost 1,604,460 1,604,460

Investment properties were valued on an open market basis on 30 November 2024 by the director .

6. Debtors: amounts falling due within one year
30.11.24 30.11.23
£    £   
Trade debtors 11,252 7,481
Prepayments 10,047 12,030
21,299 19,511

7. Creditors: amounts falling due within one year
30.11.24 30.11.23
£    £   
Corporation tax 7,586 8,654
Other creditors 80,000 -
Directors' current accounts 342,855 339,709
Accruals and deferred income 14,259 17,018
444,700 365,381

8. Creditors: amounts falling due after more than one year
30.11.24 30.11.23
£    £   
Mortgage loans 524,567 664,567

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage loans 524,567 664,567

Chelmsford Properties Limited (Registered number: 04592489)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

9. Secured debts

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Mortgage loans 524,567 664,567

The mortgage loans are secured by charges on the company's properties.

10. Provisions for liabilities
30.11.24 30.11.23
£    £   
Deferred tax 46,148 46,148

Deferred
tax
£   
Balance at 1 December 2023 46,148
Balance at 30 November 2024 46,148

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
2 Ordinary £1 2 2

12. Reserves
Fair
value
reserve
£   
At 1 December 2023
and 30 November 2024 979,392

13. Related party disclosures

J F Nyari has given personal guarantees as security for the mortgage loans.