REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
CHART TL CAPITAL LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
CHART TL CAPITAL LIMITED |
CHART TL CAPITAL LIMITED (REGISTERED NUMBER: 07112486) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CHART TL CAPITAL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4-10 Bailey House |
Barttelot Road |
Horsham |
West Sussex |
RH121DQ |
CHART TL CAPITAL LIMITED (REGISTERED NUMBER: 07112486) |
BALANCE SHEET |
30 JUNE 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
CURRENT ASSETS |
Debtors | 4 |
Investments | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 were approved by the Board of Directors and authorised for issue on |
CHART TL CAPITAL LIMITED (REGISTERED NUMBER: 07112486) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. |
Preparation of consolidated financial statements |
The financial statements contain information about Chart TL Capital Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents the realised gains made on the sale of other investments and interest on other investments. |
Income is recognised on an accruals basis when the company is entitled to the interest on investments. |
Income in respect of gains on the sale of investments is recognised when the transaction occurs. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Going concern |
The financial statements have been prepared on a going concern basis. The company has a deficiency in assets at 30 June 2024 of £3,725,762 (2023: £2,503,377). Included in long term creditors is £13,700,000 of redeemable preference share capital which is redeemable at the option of the company. These must be redeemed by 31 December 2025. |
Investments held as current assets |
Purchases and sales of investments are recognised on the trade date - the date on which the company becomes committed to purchase or sell the investment. Transaction costs are included in the profit and loss account as incurred. Investments held within current assets include secured and unsecured loans to small businesses and property developers, bridging loans and assets held with fund managers. Investments are held at cost less impairment provision. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CHART TL CAPITAL LIMITED (REGISTERED NUMBER: 07112486) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
3. | FIXED ASSET INVESTMENTS |
Investment |
in |
subsidiaries |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
PROVISIONS |
At 1 July 2023 | 12,933 |
Provision for year | (52,961 | ) |
At 30 June 2024 | (40,028 | ) |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other debtors |
Prepayments and accrued income |
5. | CURRENT ASSET INVESTMENTS |
30.6.24 | 30.6.23 |
£ | £ |
Unlisted investments | 1,705,714 | 5,696,520 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Amounts owed to group undertak ings |
Trade creditors |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Preference shares | 13,700,000 | 13,700,000 |
The 6,850,000 £1 preference B shares and 6,850,000 £1 preference C shares are redeemable at par at the option of the company. In an event, if not already redeemed, any remaining shares will be redeemed on 31 December 2025. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary A shares of £1 each | £1 | 2 | 2 |
CHART TL CAPITAL LIMITED (REGISTERED NUMBER: 07112486) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
9. | RELATED PARTY DISCLOSURES |
At the year end the company was owed £28,854 by a related party (2023: £28,854). The loan is interest free and repayable on demand. |