REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Chatton Capital Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Chatton Capital Ltd |
Chatton Capital Ltd (Registered number: 11536809) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chatton Capital Ltd |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
Chatton Capital Ltd (Registered number: 11536809) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 1,394,617 | 1,378,349 |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Chatton Capital Ltd (Registered number: 11536809) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows: |
Fixture and Fittings- 20% on cost |
Plant and Machinery - 20% on cost |
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
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. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company. |
Chatton Capital Ltd (Registered number: 11536809) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
1. | ACCOUNTING POLICIES - continued |
Fixed asset investments |
Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. |
Listed investments are measured using the market value in the investment portfolio at the balance sheet date. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
3. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
4. | FIXED ASSET INVESTMENTS |
31.3.24 | 31.3.23 |
as restated |
£ | £ |
Other investments not loans | 292,133 | 1,599,276 |
Additional information is as follows: |
Other |
investments |
£ |
COST OR VALUATION |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
Revaluations | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Chatton Capital Ltd (Registered number: 11536809) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 March 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2021 | 15,446 |
Valuation in 2022 | 1,933 |
Valuation in 2023 | (27,642 | ) |
Valuation in 2024 | 2,578 |
Cost | 295,483 |
287,798 |
Investments (neither listed nor unlisted) were as follows: |
31.3.24 | 31.3.23 |
as restated |
£ | £ |
Cash balance | 4,335 | 5,542 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 4 Zinas Kanther Street, 3035 Limassol, Cyprus |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2024 | 866,587 |
6. | DEBTORS |
31.3.24 | 31.3.23 |
as restated |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Chatton Capital Ltd (Registered number: 11536809) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | DEBTORS - continued |
31.3.24 | 31.3.23 |
as restated |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
as restated |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | as restated |
£ | £ |
Ordinary | £1 | 1 | 1 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
As at 31st March 2024 the company owed the director £1,355,977 (2023: £1,591,191). |
10. | RELATED PARTY DISCLOSURES |
Related party |
Type of transaction |
Amount2024 |
Balance receivable by/(payable to) related party as at 31.03.2024 |
Balance receivable by/(payable to) related party as at 31.03.2023 |
Company A | Loan | (£150,000) | £280,000 | £130,000 |
Loan interest | (£7,000) | £7,000 | Nil |
Investment | £90,000 | Nil | Nil |
A director of Chatton Capital Ltd is also a director of Company A. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr M S Hunter. |