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REGISTERED NUMBER: 07247915 (England and Wales)















Financial Statements for the Year Ended 31st May 2024

for

The Big Chill House Limited

The Big Chill House Limited (Registered number: 07247915)

Contents of the Financial Statements
for the Year Ended 31st May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Big Chill House Limited

Company Information
for the Year Ended 31st May 2024







DIRECTOR: N A Foster





SECRETARY: N A Foster





REGISTERED OFFICE: 1-3 Manor Road
Chatham
Kent
ME4 6AE





REGISTERED NUMBER: 07247915 (England and Wales)





ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE

The Big Chill House Limited (Registered number: 07247915)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,750,000 4,750,000

CURRENT ASSETS
Debtors 5 108,268 128,580
Cash at bank 162,871 87,657
271,139 216,237
CREDITORS
Amounts falling due within one year 6 2,380,147 2,334,725
NET CURRENT LIABILITIES (2,109,008 ) (2,118,488 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,640,992

2,631,512

PROVISIONS FOR LIABILITIES 340,530 340,530
NET ASSETS 2,300,462 2,290,982

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 1,632,412 1,632,412
Retained earnings 667,050 657,570
SHAREHOLDERS' FUNDS 2,300,462 2,290,982

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 Big Chill House Limited (Registered number: 07247915)

Balance Sheet - continued
31st May 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 director and authorised for issue on 5th March 2025 and were signed by:





N A Foster - Director


The Big Chill House Limited (Registered number: 07247915)

Notes to the Financial Statements
for the Year Ended 31st May 2024


1. STATUTORY INFORMATION

The Big Chill House 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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In preparing the financial statements the directors have made the following judgements:

The directors have concluded that the fair value of the company's investment property has not changed significantly from the previous reporting date.

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

Investment property
The company's investment property is included at fair value. Fair value gains and losses are recognised in the Profit and Loss Account. Deferred taxation is provided on these gains.

The Big Chill House Limited (Registered number: 07247915)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that comply with all of the conditions of paragraph 11.9 of FRS 102 are classified as 'basic'. For debt instruments that do not meet the conditions of FRS 102.11.9, the company considers whether the debt instrument is consistent with the principle in paragraph 11.9A of FRS 102 in order to determine whether it can be classified as basic. Instruments classified as 'basic' financial instruments are measured subsequently at amortised cost using the effective interest method. Debt instruments that have no stated interest rate (and do not constitute financing transaction) and are classified as payable or receivable within one year are initially measured at an undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting conditions of being 'basic' financial instruments are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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.


The Big Chill House Limited (Registered number: 07247915)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024


2. ACCOUNTING POLICIES - continued
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 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2023
and 31st May 2024 4,750,000
NET BOOK VALUE
At 31st May 2024 4,750,000
At 31st May 2023 4,750,000

Fair value at 31st May 2024 is represented by:
£   
Valuation in 2016 1,972,942
Cost 2,777,058
4,750,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 107,326 126,938
Other debtors and prepayments 942 1,642
108,268 128,580

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 2,377,799 2,331,478
Corporation tax 1,505 738
Other creditors and accruals 843 2,509
2,380,147 2,334,725

The Big Chill House Limited (Registered number: 07247915)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024


7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N A Foster.