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REGISTERED NUMBER: 03336542 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CHASEOPTION LIMITED

CHASEOPTION LIMITED (REGISTERED NUMBER: 03336542)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHASEOPTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: H H Morrison
A D Morrison





SECRETARY: A D Morrison





REGISTERED OFFICE: Sandrock Villa
Sandrock Road
Tunbridge Wells
Kent
TN2 3PT





REGISTERED NUMBER: 03336542 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
2nd Floor
Medway Bridge House
1-8 Fairmeadow
Maidstone
Kent
ME14 1JP

CHASEOPTION LIMITED (REGISTERED NUMBER: 03336542)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 102,000 105,500

CURRENT ASSETS
Debtors 5 794 58,964
Cash at bank and in hand 165,581 85,700
166,375 144,664
CREDITORS
Amounts falling due within one year 6 3,000 2,846
NET CURRENT ASSETS 163,375 141,818
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,375

247,318

PROVISIONS FOR LIABILITIES 875 1,125
NET ASSETS 264,500 246,193

CAPITAL AND RESERVES
Called up share capital 7 280,000 280,000
Non distributable reserves 8 3,375 3,375
Retained earnings 8 (18,875 ) (37,182 )
SHAREHOLDERS' FUNDS 264,500 246,193

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

CHASEOPTION LIMITED (REGISTERED NUMBER: 03336542)

BALANCE SHEET - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





A D Morrison - Director


CHASEOPTION LIMITED (REGISTERED NUMBER: 03336542)

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


1. STATUTORY INFORMATION

Chaseoption Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern
Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves, cash balances and no significant long term liabilities. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

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.

CHASEOPTION LIMITED (REGISTERED NUMBER: 03336542)

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


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and Equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more then 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with no significant risk of change in value.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial
statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 105,500
Revaluations (3,500 )
At 31 March 2024 102,000
NET BOOK VALUE
At 31 March 2024 102,000
At 31 March 2023 105,500

CHASEOPTION LIMITED (REGISTERED NUMBER: 03336542)

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


4. INVESTMENT PROPERTY - continued

The properties were revalued on the 31 March 2024 by the director, using the valuation prepared by McBeath Property Consultancy Limited. The valuation by McBeath Property Consultancy Limited was prepared for the properties as a whole and was apportioned according to the share owned by the company.

Fair value at 31 March 2024 is represented by:

£
Valuation in 2014 (10,000)
Valuation in 2015 (5,000)
Valuation in 2016 (3,000)
Valuation in 2017 (6,000)
Valuation in 2018 1,000
Valuation in 2019 6,000
Valuation in 2020 4,000
Valuation in 2021 (1,000)
Valuation in 2022 (1,000)
Valuation in 2023 (4,500)
Valuation in 2024 (3,500)
Cost 125,000
102,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 58,964
Prepayments and accrued income 794 -
794 58,964

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax - 146
Other creditors 3,000 2,700
3,000 2,846

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
350,000 Ordinary £0.8 280,000 280,000

CHASEOPTION LIMITED (REGISTERED NUMBER: 03336542)

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


8. RESERVES
Non
Retained distributable
earnings reserves Totals
£    £    £   

At 1 April 2023 (37,182 ) 3,375 (33,807 )
Profit for the year 18,307 18,307
At 31 March 2024 (18,875 ) 3,375 (15,500 )

9. RELATED PARTY DISCLOSURES

During the year A D Morrison, a director of the company, received management fees of £1,100 (2023: £1,000).

10. ULTIMATE CONTROLLING PARTY

The company is under the control of A D Morrison and H Morrison who, between them, hold 100% of the issued share capital as trustees of the D H Morrison settlement.

11. CORPORATE PARTNERSHIPS

The company was a member of a corporate partnership which was engaged in significant development projects. The partnership ceased trading on 18 August 2023 and the company's share of the partnerships profits for this period is taken from the partnerships accounts for the period ended 18 August 2023.

On 18 August 2023, trade and assets were transferred to a new LLP and the company sold its membership on 3 January 2024.

12. CHARGES

There are charges registered at Companies House over the assets and undertakings of the company.