REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 October 2024 |
for |
Chatsworth Court Freehold Company Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 October 2024 |
for |
Chatsworth Court Freehold Company Ltd |
Chatsworth Court Freehold Company Ltd (Registered number: 05260711) |
Contents of the Financial Statements |
for the Year Ended 31 October 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chatsworth Court Freehold Company Ltd |
Company Information |
for the Year Ended 31 October 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 540, 5th Floor, |
Linen Hall |
162- 168 Regent Street |
London |
W1B 5TF |
Chatsworth Court Freehold Company Ltd (Registered number: 05260711) |
Balance Sheet |
31 October 2024 |
31.10.24 | 31.10.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Investments | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Unrestricted fund - Member | 8 |
Restricted fund - Members | 8 |
Income and expenditure account | 8 |
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 surplus or deficit 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. |
Chatsworth Court Freehold Company Ltd (Registered number: 05260711) |
Balance Sheet - continued |
31 October 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Chatsworth Court Freehold Company Ltd (Registered number: 05260711) |
Notes to the Financial Statements |
for the Year Ended 31 October 2024 |
1. | STATUTORY INFORMATION |
Chatsworth Court Freehold Company Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
No depreciation has been provided for on tangible fixed assets. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 November 2023 |
and 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
In 2006, the company completed the purchase of the freehold of Chatsworth Court. The company then assigned long leases to investors and participants. |
Chatsworth Court Freehold Company Ltd (Registered number: 05260711) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.24 | 31.10.23 |
£ | £ |
Trade debtors |
6. | CURRENT ASSET INVESTMENTS |
31.10.24 | 31.10.23 |
£ | £ |
Money market investments |
During the year the company made three separate investments of £100,000 into Money markets. The maturity dates range from 3 - 9 months and will all mature in the coming financial period. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.24 | 31.10.23 |
£ | £ |
Trade creditors |
Corporation tax | ( |
) |
Accrued expenses |
Chatsworth Court Freehold Company Ltd (Registered number: 05260711) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
8. | RESERVES |
Income |
and | Unrestricted | Restricted |
expenditure | fund - | fund - |
account | Member | Members | Totals |
£ | £ | £ | £ |
At 1 November 2023 | 415,673 |
Surplus for the year |
At 31 October 2024 | 434,302 |
In 2006, the Company purchased the freehold entitlement to the whole of Chatsworth Court. Residents of Chatsworth Court were given the opportunity to invest in the long leasehold interest of their flats. Residents who did this were known as participants. |
Flats where residents declined to purchase the long leasehold interest were bought by investors. |
Both participants and investors are to guarantee £50 each in the company. |
There are now 193 flats in Chatsworth Court. In 2006, 100 flats were owned by participants and 92 were owned by investors. One flat was added in 2015/2016. |
Investors' flats do not carry the rights to distributions in the company and these flat owners are classified as restricted members. |
Participants' flats do carry the rights to distributions from the company and so these flat owners are classified as unrestricted members. |
Since 2006, 19 long leaseholders have successfully become participant members of the Company in line with the memorandum and articles of the Company. The total number of participant members is now 119 and restricted members total 74. |
9. | STATEMENT OF GUARANTEE |
The Company, is limited by guarantee under the provisions of the Companies Act, 2006. Every member of the company undertakes to contribute an amount not to exceed £50 to the Company's assets if it should be called while he/she is a member or within one year after he/she ceases to be a member. |