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REGISTERED NUMBER: 03314318 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

CHELTENHAM DEVELOPMENTS LIMITED

CHELTENHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03314318)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHELTENHAM DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: Mr J Diamond





REGISTERED OFFICE: 4 Kings Row
Armstrong Road
Maidstone
Kent
ME15 6AQ





REGISTERED NUMBER: 03314318 (England and Wales)





ACCOUNTANTS: Mackenzies Accountants Limited
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

CHELTENHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03314318)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 4,100,000 4,320,010

CURRENT ASSETS
Debtors 5 657,551 607,551
Cash at bank 135,518 265,469
793,069 873,020
CREDITORS
Amounts falling due within one year 6 1,521,809 1,527,388
NET CURRENT LIABILITIES (728,740 ) (654,368 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,371,260

3,665,642

CREDITORS
Amounts falling due after more than one
year

7

(3,057,520

)

(3,094,872

)

PROVISIONS FOR LIABILITIES 9 (34,435 ) (34,435 )
NET ASSETS 279,305 536,335

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 279,205 536,235
SHAREHOLDERS' FUNDS 279,305 536,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

CHELTENHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03314318)

BALANCE SHEET - continued
30 NOVEMBER 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





Mr J Diamond - Director


CHELTENHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03314318)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Cheltenham Developments 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Land and building are shown at original cost or subsequent valuation as set out in the note. Other fixed assets are shown at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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).

CHELTENHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03314318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£ £ £ £ £
COST OR VALUATION
At 1 December 2023 4,320,000 35,933 28,640 3,949 4,388,522
Disposals (220,000 ) - - - (220,000 )
At 30 November 2024 4,100,000 35,933 28,640 3,949 4,168,522
DEPRECIATION
At 1 December 2023 - 35,933 28,640 3,939 68,512
Charge for year - - - 10 10
At 30 November 2024 - 35,933 28,640 3,949 68,522
NET BOOK VALUE
At 30 November 2024 4,100,000 - - - 4,100,000
At 30 November 2023 4,320,000 - - 10 4,320,010

All of the freehold property were revalued by an independent local member of RICS as at 30th November 2018.

Cost or valuation at 30 November 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£ £ £ £ £
Valuation in 2018 1,058,841 - - - 1,058,841
Cost 3,041,159 35,933 28,640 3,949 3,109,681
4,100,000 35,933 28,640 3,949 4,168,522

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Owed by related companies 431,915 431,915
Other debtors 225,636 175,636
657,551 607,551

CHELTENHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03314318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 1,172,072 1,177,419
Owed to companies under common control 182,169 182,574
Other creditors 166,000 166,000
Accrued expenses 1,568 1,395
1,521,809 1,527,388

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 1,191,621 14,007
Bank loans - 2-5 years 1,865,899 2,450,091
Bank loans more than 5 yrs (no instalments) - 630,774
3,057,520 3,094,872

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 yrs (no instalments) - 630,774

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 4,229,590 4,272,289

The bank loans are secured by a charge over the freehold properties in the lenders standard format.

9. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 34,435 34,435

Deferred tax
£
Balance at 1 December 2023 34,435
Balance at 30 November 2024 34,435

CHELTENHAM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03314318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
80 Ordinary A £1 80 80
5 Ordinary B £1 5 5
5 Ordinary C £1 5 5
5 Ordinary D £1 5 5
3 Ordinary E £1 3 3
2 Ordinary F £1 2 2
100 100

11. ULTIMATE CONTROLLING PARTY

The executors of the late Baroness Rowena Von Albedyhll, who was the majority shareholder of the company, are collectively the ultimate controlling party of the company.