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REGISTERED NUMBER: 01152821 (England and Wales)















CHRISGATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2024






CHRISGATE LIMITED (REGISTERED NUMBER: 01152821)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


CHRISGATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: Mr T P Cain



SECRETARY: Mr P J Hulance



REGISTERED OFFICE: 167 Victoria Road
Old Town
SWINDON
Wiltshire
SN1 3BU



REGISTERED NUMBER: 01152821 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: HSBC Bank Plc
Unit 6 The Lock
Canal Walk
SWINDON
Wiltshire
SN1 1LD

CHRISGATE LIMITED (REGISTERED NUMBER: 01152821)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,023 1,023
Property, plant and equipment 5 4,772 6,256
Investments 6 4,500 4,500
Investment property 7 1,229,999 1,459,999
1,240,294 1,471,778

CURRENT ASSETS
Debtors 8 1,149,851 1,025,435
Cash at bank 72 95
1,149,923 1,025,530
CREDITORS
Amounts falling due within one year 9 947,842 778,903
NET CURRENT ASSETS 202,081 246,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,442,375

1,718,405

CREDITORS
Amounts falling due after more than
one year

10

647,483

809,114
NET ASSETS 794,892 909,291

CAPITAL AND RESERVES
Called up share capital 13 3,000 3,000
Retained earnings 14 791,892 906,291
SHAREHOLDERS' FUNDS 794,892 909,291

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

CHRISGATE LIMITED (REGISTERED NUMBER: 01152821)

STATEMENT OF FINANCIAL POSITION - continued
31ST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th March 2025 and were signed by:





Mr T P Cain - Director


CHRISGATE LIMITED (REGISTERED NUMBER: 01152821)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Chrisgate Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01152821 and the registered office is 167 Victoria Road, Old Town, Swindon, Wiltshire, SN1 3BU.

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:
- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.
- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.
- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.
- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
Turnover represents rents receivable during the period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Freehold ground rent are being amortised evenly over their estimated useful life of nil years.

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 cost and 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on reducing balance and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


CHRISGATE LIMITED (REGISTERED NUMBER: 01152821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2023
and 31st March 2024 1,023
NET BOOK VALUE
At 31st March 2024 1,023
At 31st March 2023 1,023

CHRISGATE LIMITED (REGISTERED NUMBER: 01152821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 54,653
DEPRECIATION
At 1st April 2023 48,397
Charge for year 1,484
At 31st March 2024 49,881
NET BOOK VALUE
At 31st March 2024 4,772
At 31st March 2023 6,256

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaki
£   
COST
At 1st April 2023
and 31st March 2024 4,500
NET BOOK VALUE
At 31st March 2024 4,500
At 31st March 2023 4,500

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 1,459,999
Disposals (230,000 )
At 31st March 2024 1,229,999
NET BOOK VALUE
At 31st March 2024 1,229,999
At 31st March 2023 1,459,999

CHRISGATE LIMITED (REGISTERED NUMBER: 01152821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


7. INVESTMENT PROPERTY - continued

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2010 262,953
Valuation in 2012 (111,154 )
Valuation in 2014 74,940
Valuation in 2015 235,366
Valuation in 2016 120,000
Valuation in 2017 89,044
Valuation in 2019 (291,514 )
Valuation in 2021 124,429
Valuation in 2022 95,000
Valuation in 2023 (330,502 )
Cost 961,437
1,229,999

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 961,437 1,138,373

The director has reviewed the fair values of the investment properties during the year and consider the carrying values at the balance sheet date to be appropriate.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,461 18,551
Other debtors 1,128,390 1,006,884
1,149,851 1,025,435

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,551 -
Trade creditors 10,684 3,618
Amounts owed to group undertakings 867,268 733,682
Taxation and social security 15,946 14,902
Other creditors 44,393 26,701
947,842 778,903

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 647,483 809,114

CHRISGATE LIMITED (REGISTERED NUMBER: 01152821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 647,483 809,114

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 657,034 809,114

The bank loans and overdrafts are secured on the investment properties which the loans originally funded, together with a fixed and floating charge over the assets of the company.

12. DEFERRED TAX
£   
Balance at 1st April 2023 (6,506 )
Credit to Statement of Income and Retained Earnings during year (282 )
Property deferred tax movement (3,233 )
Balance at 31st March 2024 (10,021 )

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,000 Ordinary £1 3,000 3,000

14. RESERVES

Included within retained earnings is an amount of £268,563 (2023: £318,393) which is undistributable. This amount represents the difference between the carrying value of the Investment property measured at fair value less its cost at initial recognition, less the relevant deferred tax liability.

15. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
Mr T P Cain
Balance outstanding at start of year 87,315 99,342
Amounts advanced 98,237 61,973
Amounts repaid (168,143 ) (74,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,409 87,315