2023-07-282024-07-312024-07-31false15035437CHASE INVEST 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CHASE INVEST LTD

Registered Number
15035437
(England and Wales)

Unaudited Financial Statements for the Period ended
31 July 2024

CHASE INVEST LTD
Company Information
for the period from 28 July 2023 to 31 July 2024

Directors

OSUNDE, Monica
OSUNDE, Osemwegie Joseph, Dr

Registered Address

128 City Road
London
EC1V 2NX

Registered Number

15035437 (England and Wales)
CHASE INVEST LTD
Balance Sheet as at
31 July 2024

Notes

2024

£

£

Fixed assets
Investment property3247,127
247,127
Current assets
Cash at bank and on hand1,803
1,803
Creditors amounts falling due within one year4(78,043)
Net current assets (liabilities)(76,240)
Total assets less current liabilities170,887
Creditors amounts falling due after one year5(178,430)
Net assets(7,543)
Capital and reserves
Called up share capital4
Profit and loss account(7,547)
Shareholders' funds(7,543)
The financial statements were approved and authorised for issue by the Board of Directors on 28 April 2025, and are signed on its behalf by:
OSUNDE, Monica
Director
OSUNDE, Osemwegie Joseph, Dr
Director

Registered Company No. 15035437
CHASE INVEST LTD
Notes to the Financial Statements
for the period ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the fair value and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents rent receivable in the period. Income is recognized in the period to which it relates.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

2024
Average number of employees during the year2
3.Investment property
The investment property below has been shown at the fair value which has been valued by the director.

£
Additions247,127
At 31 July 24247,127
4.Creditors: amounts due within one year

2024

£
Other creditors77,383
Accrued liabilities and deferred income660
Total78,043
5.Creditors: amounts due after one year

2024

£
Bank borrowings and overdrafts178,430
Total178,430
Included in bank borrowings and overdraft due after one year is a bank loan of £178,430 secured against fixed charge on the assets of the company.
6.Related party transactions
Included in the other creditors is an amount of £77,383 due to the directors.