REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 August 2023 to 29 July 2024 |
for |
Churchill Property Services Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 August 2023 to 29 July 2024 |
for |
Churchill Property Services Limited |
Churchill Property Services Limited (Registered number: 03596485) |
Contents of the Financial Statements |
for the Period 1 August 2023 to 29 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Churchill Property Services Limited |
Company Information |
for the Period 1 August 2023 to 29 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 5 Corum 2 |
Corum Office Park |
Crown Way |
Warmley |
Bristol |
BS30 8FJ |
Churchill Property Services Limited (Registered number: 03596485) |
Balance Sheet |
29 July 2024 |
29.7.24 | 31.7.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings |
Churchill Property Services Limited (Registered number: 03596485) |
Balance Sheet - continued |
29 July 2024 |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
Churchill Property Services Limited (Registered number: 03596485) |
Notes to the Financial Statements |
for the Period 1 August 2023 to 29 July 2024 |
1. | STATUTORY INFORMATION |
Churchill Property Services Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There have been no material departures from the Financial Reporting Standard 102 1A. |
Turnover |
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of any discounts. |
The company recognises revenue when: |
- the amount of revenue can be reliably measured; |
- it is probable that future economic benefits will flow to the entity; |
- specific criteria have been met for each of the company's activities and; |
- the costs incurred for the transaction and the costs to complete the transaction can be measured |
reliably. |
Rental income from investment properties is recognised on rental receipts on an accruals basis in line with the overall revenue recognition policy. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been amortised evenly over its estimated useful life of five years. |
Churchill Property Services Limited (Registered number: 03596485) |
Notes to the Financial Statements - continued |
for the Period 1 August 2023 to 29 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - not provided |
Plant and machinery | - 20% on cost and 15% on reducing balance |
Motor vehicles | - 25% on reducing balance |
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. |
Taxation |
Taxation for the period 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. |
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 period 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Churchill Property Services Limited (Registered number: 03596485) |
Notes to the Financial Statements - continued |
for the Period 1 August 2023 to 29 July 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 August 2023 |
and 29 July 2024 |
AMORTISATION |
At 1 August 2023 |
and 29 July 2024 |
NET BOOK VALUE |
At 29 July 2024 |
At 31 July 2023 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 August 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 29 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 29 July 2024 |
NET BOOK VALUE |
At 29 July 2024 |
At 31 July 2023 |
Churchill Property Services Limited (Registered number: 03596485) |
Notes to the Financial Statements - continued |
for the Period 1 August 2023 to 29 July 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
The fair value of the freehold property has been arrived at on the basis of a valuation carried out at 29 July 2024 by the director. The valuation was made on an open market value basis by reference to the UK House Price Index as at 29 July 2024. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2023 |
Revaluations | (30,000 | ) |
At 29 July 2024 |
NET BOOK VALUE |
At 29 July 2024 |
At 31 July 2023 |
The fair value of the investment properties have been arrived at on the basis of a valuation carried out at 29 July 2024 by the director. The valuation was made on an open market value basis by reference to the UK House Price Index as at 29 July 2024. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.7.24 | 31.7.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
Churchill Property Services Limited (Registered number: 03596485) |
Notes to the Financial Statements - continued |
for the Period 1 August 2023 to 29 July 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.7.24 | 31.7.23 |
£ | £ |
Hire purchase contracts |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
29.7.24 | 31.7.23 |
£ | £ |
Bank overdrafts |
Hire purchase contracts | 11,707 | - |
The bank has a fixed and floating charge over all the property and undertakings of the company. |
Hire purchase contracts are secured over the assets to which they relate. |
11. | PENSION COMMITMENTS |
The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £10,320 (2023 - £2,206) were payable to the fund at the reporting date. |
12. | OFF BALANCE SHEET COMMITMENTS |
At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £20,220 (2023 - £7,521). |
Churchill Property Services Limited (Registered number: 03596485) |
Notes to the Financial Statements - continued |
for the Period 1 August 2023 to 29 July 2024 |
13. | RELATED PARTY DISCLOSURES |
Loans to related parties |
Key management |
Other related parties |
Total |
2024 | £ | £ | £ |
At start of period | 204,142 | 1,949 | 206,091 |
Advanced | 76,791 | 499 | 77,290 |
Repaid | (77,863 | ) | (312 | ) | (78,175 | ) |
At end of period | 203,070 | 2,136 | 205,206 |
Key management |
Other related parties |
Total |
2023 | £ | £ | £ |
At start of the period | 52,855 | 1,378 | 54,233 |
Advanced | 216,347 | 10,009 | 226,356 |
Repaid | (65,060 | ) | (9,438 | ) | (74,498 | ) |
At end of period | 204,142 | 1,949 | 206,091 |
The loans to other related parties are interest free and repayable on demand. |
The loans to key management are interest free and repayable on demand. |
Churchill Property Services Limited (Registered number: 03596485) |
Notes to the Financial Statements - continued |
for the Period 1 August 2023 to 29 July 2024 |
13. | RELATED PARTY DISCLOSURES - continued |
Loans from related parties |
Other related parties |
Total |
2024 | £ | £ |
At start of period | - | - |
Advanced | 34,828 | 34,828 |
Repaid | (11,747 | ) | (11,747 | ) |
At end of period | 23,081 | 23,081 |
Other related parties |
Total |
2023 | £ | £ |
At start of the period | 9,438 | 9,438 |
Advanced | - | - |
Repaid | (9,438 | ) | (9,438 | ) |
At end of period | - | - |
The loans from other related parties are interest free and repayable on demand. |