Registered number
10622892
Charter House Property Development Ltd
Filleted Accounts
31 March 2024
Charter House Property Development Ltd
Registered number: 10622892
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 348,301 406,501
Cash at bank and in hand 785 7,297
349,086 413,798
Creditors: amounts falling due within one year 5 (349,299) (413,698)
Net current (liabilities)/assets (213) 100
Net (liabilities)/assets (213) 100
Capital and reserves
Called up share capital 100 100
Profit and loss account (313) -
Shareholders' funds (213) 100
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.
Harpreet Kaur
Director
Approved by the board on 24 February 2025
Charter House Property Development Ltd
Notes to the Accounts
for the year ended 31 March 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 represents revenue earned from the rental income which is recognised when is due from the tenants.
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 NIL
Investment property
Investment property is revalued annually for the fair value and the surplus or deficit is transferred
to profit and loss account. No depreciation is provided in respect of investment property.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 31 March 2024 - - - -
Depreciation
At 31 March 2024 - - - -
Net book value
At 31 March 2024 - - - -
Freehold land and buildings: 2024 2023
£ £
Historical cost - 3,891,767
Cumulative depreciation based on historical cost - -
- 3,891,767
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 346,300 404,500
Other debtors 2,001 2,001
348,301 406,501
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 67,800
Taxation and social security costs 289,651 289,651
Other creditors 59,648 56,247
349,299 413,698
6 Revaluation reserve 2024 2023
£ £
At 1 April 2023 - 1,464,668
Loss on revaluation of land and buildings - (1,464,668)
At 31 March 2024 - -
7 Related party transactions 2023 2022
£ £
Ms Harpreet Kaur
Included with in director's loan account in an amount payable of 250 250
BCL Group Ltd - Common director
Included with in group undertakings is an amount receivable of 339,800 404,500
M R Construction Ltd - Common director
Included with in other creditors is an amount payable of 1,000 -
BCL Management & Consultancy LTD - Common director
Included with in other debtors is an amount receivable of 6,500 -
8 Controlling party
The company is under the control of its shareholder, BCL Group Ltd, by virtue of its shareholding in the issued share capital of the company.
9 Other information
Charter House Property Development Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9, Hounslow Business Park
Alice way
Hounslow
Middlesex
TW3 3UD
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