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REGISTERED NUMBER: 01036504 (England and Wales)















CHRISGATE HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2024






CHRISGATE HOLDINGS LIMITED (REGISTERED NUMBER: 01036504)

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 HOLDINGS 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: 01036504 (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 HOLDINGS LIMITED (REGISTERED NUMBER: 01036504)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 10,189 12,045
Investment property 5 2,170,000 2,695,000
2,180,189 2,707,045

CURRENT ASSETS
Debtors 6 885,248 756,482
Cash at bank and in hand 8,134 8,775
893,382 765,257
CREDITORS
Amounts falling due within one year 7 451,037 462,507
NET CURRENT ASSETS 442,345 302,750
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,622,534

3,009,795

CREDITORS
Amounts falling due after more than
one year

8

(641,795

)

(745,883

)

PROVISIONS FOR LIABILITIES 10 (244,255 ) (315,858 )
NET ASSETS 1,736,484 1,948,054

CAPITAL AND RESERVES
Called up share capital 11 4,500 4,500
Retained earnings 12 1,731,984 1,943,554
SHAREHOLDERS' FUNDS 1,736,484 1,948,054

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 HOLDINGS LIMITED (REGISTERED NUMBER: 01036504)

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 HOLDINGS LIMITED (REGISTERED NUMBER: 01036504)

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


1. STATUTORY INFORMATION

Chrisgate Holdings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01036504 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost, 20% on reducing balance and 15% on reducing balance
Computer equipment - 33% on reducing balance

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.

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.


CHRISGATE HOLDINGS LIMITED (REGISTERED NUMBER: 01036504)

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


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1st April 2023 59,220
Additions 309
At 31st March 2024 59,529
DEPRECIATION
At 1st April 2023 47,175
Charge for year 2,165
At 31st March 2024 49,340
NET BOOK VALUE
At 31st March 2024 10,189
At 31st March 2023 12,045

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 2,695,000
Disposals (150,000 )
Revaluations (375,000 )
At 31st March 2024 2,170,000
NET BOOK VALUE
At 31st March 2024 2,170,000
At 31st March 2023 2,695,000

CHRISGATE HOLDINGS LIMITED (REGISTERED NUMBER: 01036504)

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


5. INVESTMENT PROPERTY - continued

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2008 1,233,043
Valuation in 2009 (239,116 )
Valuation in 2010 22,010
Valuation in 2014 48,500
Valuation in 2015 261,490
Valuation in 2016 75,000
Valuation in 2017 141,214
Valuation in 2019 (286,083 )
Valuation in 2022 470,232
Valuation in 2023 (375,000 )
Cost 818,710
2,170,000

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

2024 2023
£    £   
Cost 818,710 941,440

The properties were valued by Carter Jonas on 24 October 2024. The director believes these values are a true reflection of the property values as at the balance sheet date therefore these valuations have been reflected in these accounts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,927 18,852
Amounts owed by group undertakings 867,268 733,682
Other debtors 5,053 3,948
885,248 756,482

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 333,548 363,692
Trade creditors 14,471 7,345
Taxation and social security 50,619 41,304
Other creditors 52,399 50,166
451,037 462,507

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 641,795 745,883

CHRISGATE HOLDINGS LIMITED (REGISTERED NUMBER: 01036504)

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


8. 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 124,350 124,350

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 951,230 1,077,186

Bank loans and overdrafts are secured on the investment properties, together with a fixed and floating charge over the assets of the company.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,936 2,289
Property revaluation 242,319 313,569
244,255 315,858

Deferred
tax
£   
Balance at 1st April 2023 315,858
Credit to Statement of Income and Retained Earnings during year (353 )
Property deferred tax movement (71,250 )
Balance at 31st March 2024 244,255

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,500 Ordinary £1 4,500 4,500

12. RESERVES

Included within retained earnings is an amount of £1,108,971 (2023:£1,439,991) 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.

CHRISGATE HOLDINGS LIMITED (REGISTERED NUMBER: 01036504)

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


13. 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 4 17
Amounts advanced - 354
Amounts repaid (4 ) (367 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 4