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Company No: 02738408 (England and Wales)

CHARFLEETS PROMOTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

CHARFLEETS PROMOTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

CHARFLEETS PROMOTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
CHARFLEETS PROMOTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTORS Jan Elizabeth Kelly
Kevin Kelly
Francis Blaise Ambrose Nash
Josephine Bernadette Nash
SECRETARY Kevin Kelly
REGISTERED OFFICE Rayleigh Lanes
89 High Street
Rayleigh
SS6 7EJ
United Kingdom
COMPANY NUMBER 02738408 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
CHARFLEETS PROMOTIONS LIMITED

BALANCE SHEET

As at 31 October 2024
CHARFLEETS PROMOTIONS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 23,558 31,411
Investment property 4 4,850,000 4,850,000
4,873,558 4,881,411
Current assets
Debtors 5 17,428 17,024
Cash at bank and in hand 276,519 178,885
293,947 195,909
Creditors: amounts falling due within one year 6 ( 2,174,374) ( 2,441,618)
Net current liabilities (1,880,427) (2,245,709)
Total assets less current liabilities 2,993,131 2,635,702
Provision for liabilities ( 5,890) ( 7,853)
Net assets 2,987,241 2,627,849
Capital and reserves
Called-up share capital 200 100
Fair value reserve ( 1,566,568 ) ( 1,566,568 )
Profit and loss account 4,553,609 4,194,317
Total shareholders' funds 2,987,241 2,627,849

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Charfleets Promotions Limited (registered number: 02738408) were approved and authorised for issue by the Board of Directors on 02 April 2025. They were signed on its behalf by:

Kevin Kelly
Director
CHARFLEETS PROMOTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
CHARFLEETS PROMOTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Charfleets Promotions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Rayleigh Lanes, 89 High Street, Rayleigh, SS6 7EJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the total invoice value of rent receivable during the year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 0 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 66,523 66,523
At 31 October 2024 66,523 66,523
Accumulated depreciation
At 01 November 2023 35,112 35,112
Charge for the financial year 7,853 7,853
At 31 October 2024 42,965 42,965
Net book value
At 31 October 2024 23,558 23,558
At 31 October 2023 31,411 31,411

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 4,850,000
As at 31 October 2024 4,850,000

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 4,417,105 4,417,105

5. Debtors

2024 2023
£ £
Trade debtors 10,940 10,940
Other debtors 6,488 6,084
17,428 17,024

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,112 862
Taxation and social security 140,572 106,824
Other creditors 2,030,690 2,333,932
2,174,374 2,441,618