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COMPANY REGISTRATION NUMBER: 04311230
Charlton Nominees Limited
Unaudited Financial Statements
30 September 2024
Charlton Nominees Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Officers and professional advisers
1
Directors' report
2
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings
4
Statement of financial position
5
Notes to the financial statements
7
Charlton Nominees Limited
Officers and Professional Advisers
The board of directors
N Bleier
J Bleier
B Bleier
I Mett
Company secretary
N Bleier
Registered office
Unit 3 Edge Business Centre
Humber Road
London
NW2 6EW
Accountants
Haffner Hoff Ltd
Accountants
2nd Floor - Parkgates
Bury New Road
Prestwich
Manchester
M25 0TL
Bankers
Barclays Bank Plc
Business Banking
Broadgate 2
London Corporate Banking
Charlton Nominees Limited
Directors' Report
Year ended 30 September 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2024 .
Directors
The directors who served the company during the year were as follows:
N Bleier
J Bleier
B Bleier
I Mett
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 24 March 2025 and signed on behalf of the board by:
N Bleier
N Bleier
Director
Company Secretary
Registered office:
Unit 3 Edge Business Centre
Humber Road
London
NW2 6EW
Charlton Nominees Limited
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Charlton Nominees Limited
Year ended 30 September 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 September 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Haffner Hoff Ltd Accountants
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
24 March 2025
Charlton Nominees Limited
Statement of Income and Retained Earnings
Year ended 30 September 2024
2024
2023
Note
£
£
Turnover
112,250
109,750
---------
---------
Gross profit
112,250
109,750
Administrative expenses
27,017
3,588
---------
---------
Operating profit
85,233
106,162
Other interest receivable and similar income
4
998
401
Interest payable and similar expenses
5
86,727
74,079
---------
---------
(Loss)/profit before taxation
( 496)
32,484
Tax on (loss)/profit
----
--------
(Loss)/profit for the financial year and total comprehensive income
( 496)
32,484
----
--------
Retained earnings at the start of the year
130,900
98,416
---------
---------
Retained earnings at the end of the year
130,404
130,900
---------
---------
All the activities of the company are from continuing operations.
Charlton Nominees Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
1,920,128
1,920,128
Current assets
Debtors
7
83,477
88,466
Cash at bank and in hand
4,706
12,389
--------
---------
88,183
100,855
Creditors: amounts falling due within one year
8
486,751
455,885
---------
---------
Net current liabilities
398,568
355,030
------------
------------
Total assets less current liabilities
1,521,560
1,565,098
Creditors: amounts falling due after more than one year
9
1,086,818
1,129,860
------------
------------
Net assets
434,742
435,238
------------
------------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
304,337
304,337
Profit and loss account
130,404
130,900
---------
---------
Shareholders funds
434,742
435,238
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Charlton Nominees Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
N Bleier
Director
Company registration number: 04311230
Charlton Nominees Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 Edge Business Centre, Humber Road, London, NW2 6EW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents ground rents receivable.
Income tax
No provision has been made for deferred tax on gains recognised on revaluing property to its market value as the company does not intend to sell the revalued assets.
Tangible assets
Ground rent property investments are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. This accounting policy is a departure from the general requirement of the Companies Act for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Other interest receivable and similar income
2024
2023
£
£
Interest on cash and cash equivalents
998
401
----
----
5. Interest payable and similar expenses
2024
2023
£
£
Other interest payable and similar charges
86,727
74,079
--------
--------
6. Tangible assets
Land and buildings
£
Cost
At 1 October 2023 and 30 September 2024
1,920,128
------------
Depreciation
At 1 October 2023 and 30 September 2024
------------
Carrying amount
At 30 September 2024
1,920,128
------------
At 30 September 2023
1,920,128
------------
Tangible assets held at valuation
The company's fixed assets comprise rights to receive ground rents from various properties in the UK. These were revalued on 9 July 2004 by Lambert Smith Hampton, Chartered Surveyors, to the sum of £2,240,000 on an open market basis. Since then one of the properties has been sold and the value has been reduced accordingly. The directors are of the opinion that the open market value at the period end is not materially different. No provision has been made for the contingent capital gains tax liability (deferred taxation) estimated at £73,233 in respect of the surplus on revaluation.
7. Debtors
2024
2023
£
£
Trade debtors
( 36,059)
( 50,118)
Other debtors
119,536
138,584
---------
---------
83,477
88,466
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
30,866
Amounts owed to group undertakings and undertakings in which the company has a participating interest
425,000
425,000
Other creditors
30,885
30,885
---------
---------
486,751
455,885
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,086,818
1,129,860
------------
------------
All creditors falling due after more than five years are secured loans.
10. Related party transactions
The company was under the control of Greater London Corporation Limited throughout the current and previous year. Greater London Corporation Limited is the only shareholder. The shares of Greater London Corporation Limited are owned by The Blair Trust Fund, a UK charitable company. Charlton Nominees Limited owed The Blair Trust Fund £425,000 at the start of the year on an interest free basis and this was the balance at the year end too. Charlton Nominees Limited had lent £50,000 to Clarence Leeds Limited, a UK company under the control Greater London Corporation Limited, in a previous year on an interest free basis. This was also the balance at the year end. Charlton Nominees Limited donated £25,000 to The Blair Trust Fund during the year.