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Chesswall Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

Registration number: 02149402

 

Chesswall Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Chesswall Limited

(Registration number: 02149402)
Statement of financial position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,165,650

1,050,650

Current assets

 

Debtors

5

15,537

115,621

Cash at bank and in hand

 

11,673

6,247

 

27,210

121,868

Creditors: Amounts falling due within one year

6

(28,886)

(38,556)

Net current (liabilities)/assets

 

(1,676)

83,312

Total assets less current liabilities

 

1,163,974

1,133,962

Provisions for liabilities

(243,873)

(156,843)

Net assets

 

920,101

977,119

Capital and reserves

 

Called up share capital

7

2

2

Other reserves

696,618

668,648

Retained earnings

223,481

308,469

Shareholders' funds

 

920,101

977,119

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 14 March 2025 and signed on its behalf by:
 

.........................................
Mr J J Ford
Director

 

Chesswall Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Engkand and Wales.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 14 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Chesswall Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investment properties

2024
£

At 1 July

1,050,650

Fair value adjustments

115,000

At 30 June

1,165,650

Investment property fair value has been arrived at on a basis of a valuation carried out by the directors, it is an open market valuation considering the value of similar properties.

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

552

1,233

Amounts owed by related parties

10,694

110,089

Prepayments

 

4,291

4,299

   

15,537

115,621

 

Chesswall Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

126

77

Taxation and social security

10,909

21,278

Accruals and deferred income

5,988

5,651

Other creditors

11,863

11,550

28,886

38,556

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.01 each

200

2

200

2