Registered number
09534984
Choice Properties Limited
Filleted Accounts
29 February 2024
Choice Properties Limited
Registered number: 09534984
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 425,917 435,417
Current assets
Debtors 4 531,281 413,528
Cash at bank and in hand 40,850 120,192
572,131 533,720
Creditors: amounts falling due within one year 5 (75,183) (67,442)
Net current assets 496,948 466,278
Net assets 922,865 901,695
Capital and reserves
Called up share capital 100 100
Profit and loss account 922,765 901,595
Shareholders' funds 922,865 901,695
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Vinod Bhandari
Director
Approved by the board on 9 July 2024
Choice Properties Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2023 475,000
At 29 February 2024 475,000
Depreciation
At 1 March 2023 39,583
Charge for the year 9,500
At 29 February 2024 49,083
Net book value
At 29 February 2024 425,917
At 28 February 2023 435,417
4 Debtors 2024 2023
£ £
Trade debtors 23,357 23,357
Amounts owed by group undertakings and undertakings in which the company has a participating interest 507,924 390,171
531,281 413,528
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 2,857 5,398
Other creditors 72,326 62,044
75,183 67,442
6 Other information
Choice Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Newlands
Chorleywood Road
Rickmansworth
Hertfordshire
WD3 3EP
Choice Properties Limited 09534984 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts July 2024 Vinod Bhandari No description of principal activity 09534984 2022-03-01 2023-02-28 09534984 core:WithinOneYear 2023-02-28 09534984 core:ShareCapital 2023-02-28 09534984 core:RetainedEarningsAccumulatedLosses 2023-02-28 09534984 2023-03-01 2024-02-29 09534984 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09534984 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09534984 bus:Director40 2023-03-01 2024-02-29 09534984 1 2023-03-01 2024-02-29 09534984 2 2023-03-01 2024-02-29 09534984 core:LandBuildings 2023-03-01 2024-02-29 09534984 countries:England 2023-03-01 2024-02-29 09534984 bus:FRS102 2023-03-01 2024-02-29 09534984 bus:FilletedAccounts 2023-03-01 2024-02-29 09534984 2024-02-29 09534984 core:WithinOneYear 2024-02-29 09534984 core:ShareCapital 2024-02-29 09534984 core:RetainedEarningsAccumulatedLosses 2024-02-29 09534984 core:LandBuildings 2024-02-29 09534984 2023-02-28 09534984 core:LandBuildings 2023-02-28 iso4217:GBP xbrli:pure