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REGISTERED NUMBER: 06799433 (England and Wales)

















Charterhouse Designs Limited

Financial Statements

for the Year Ended 30 June 2024






Charterhouse Designs Limited (Registered number: 06799433)

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


Charterhouse Designs Limited

Company Information
for the year ended 30 June 2024







DIRECTOR: D J Howard





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 06799433 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Charterhouse Designs Limited (Registered number: 06799433)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,187 6,121
Investment property 5 1,390,000 1,400,000
1,395,187 1,406,121

CURRENT ASSETS
Debtors 6 21,741 7,200
Cash at bank 26 35,770
21,767 42,970
CREDITORS
Amounts falling due within one year 7 403,624 188,026
NET CURRENT LIABILITIES (381,857 ) (145,056 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,013,330

1,261,065

CREDITORS
Amounts falling due after more than one
year

8

(431,567

)

(660,553

)

PROVISIONS FOR LIABILITIES 10 (110,213 ) (114,900 )
NET ASSETS 471,550 485,612

CAPITAL AND RESERVES
Called up share capital 1 1
Undistributable reserves 11 502,645 510,145
Retained earnings (31,096 ) (24,534 )
SHAREHOLDERS' FUNDS 471,550 485,612

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

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

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 director and authorised for issue on 20 March 2025 and were signed by:





D J Howard - Director


Charterhouse Designs Limited (Registered number: 06799433)

Notes to the Financial Statements
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Charterhouse Designs 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures, fittings, equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Undistributable reserves
Whilst fair value gains on investment property are taken to the profit and loss account, they are not distributable as dividend to shareholders because the gain is unrealised. The company therefore adopts the policy of transferring the fair value adjustment net/inclusive of the deferred tax charge/credit to a separate account, 'undistributable reserves'. In practical reporting terms, the former revaluation reserve has been reclassified as 'undistributable reserves' and the deferred tax adjustments have been charged or credited as appropriate.

3. EMPLOYEES AND DIRECTORS

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

Charterhouse Designs Limited (Registered number: 06799433)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings, Motor
equipment vehicles Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 7,382 6,000 13,382
DEPRECIATION
At 1 July 2023 1,427 5,834 7,261
Charge for year 893 41 934
At 30 June 2024 2,320 5,875 8,195
NET BOOK VALUE
At 30 June 2024 5,062 125 5,187
At 30 June 2023 5,955 166 6,121

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures,
fittings,
equipment
£   
COST
At 1 July 2023
and 30 June 2024 7,021
DEPRECIATION
At 1 July 2023 1,202
Charge for year 873
At 30 June 2024 2,075
NET BOOK VALUE
At 30 June 2024 4,946
At 30 June 2023 5,819

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 1,400,000
Revaluation in year (10,000 )
At 30 June 2024 1,390,000
NET BOOK VALUE
At 30 June 2024 1,390,000
At 30 June 2023 1,400,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2023 638,260
Valuation in 2024 (10,000 )
Cost 761,740
1,390,000

Charterhouse Designs Limited (Registered number: 06799433)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 761,740 761,740

Investment property was valued on a fair value basis on 30 June 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 21,741 7,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 223,164 11,095
Hire purchase contracts 1,636 1,963
Taxation and social security 110 364
Other creditors 178,714 174,604
403,624 188,026

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 160,000 383,320
Hire purchase contracts - 1,636
Other creditors 271,567 275,597
431,567 660,553

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 160,000 160,000

Repayable by instalments
Bank loans - 166,548
Other loans 52,423 57,705
52,423 224,253

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 383,164 394,415
Hire purchase contracts 1,636 3,599
384,800 398,014

Bank loans are secured by fixed and floating charges, created on 20 March 2015 and 9 August 2019, over the company's freehold properties and all other assets, present and future.

Hire purchase liabilities are secured on the assets concerned.

Charterhouse Designs Limited (Registered number: 06799433)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,297 1,531
Tax losses carried forward (16,699 ) (14,746 )
Capital gains on investment property 125,615 128,115
110,213 114,900

Deferred
tax
£   
Balance at 1 July 2023 114,900
Credit to Income Statement during year (4,687 )
Balance at 30 June 2024 110,213

11. RESERVES
Undistributable
reserves
£   
At 1 July 2023 510,145
Transfer unrealised gain/loss on investment
property to undistributable reserves

(7,500

)


At 30 June 2024 502,645

Undistributable reserves represent the unrealised gains on carrying investment property at fair value less the deferred tax provision thereon; being unrealised, such amounts are not available to be distributed as dividend to shareholders.