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Registration number: 01653756

Chervale Builders Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2024 to 5 April 2025

 

Chervale Builders Limited

(Registration number: 01653756)
Balance Sheet as at 5 April 2025

Note

2025
£

2023
£

Fixed assets

 

Investment property

4

587,000

566,000

Current assets

 

Cash at bank and in hand

 

4,804

4,822

Creditors: Amounts falling due within one year

5

(19,274)

(42,559)

Net current liabilities

 

(14,470)

(37,737)

Total assets less current liabilities

 

572,530

528,263

Provisions for liabilities

(19,854)

(15,864)

Net assets

 

552,676

512,399

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

552,576

512,299

Shareholders' funds

 

552,676

512,399

For the financial period ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 April 2025
 

Mr J C O'Donnell
Director

   
     
 

Chervale Builders Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 5 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
43 Trinity Close
Banbury
Oxon
OX16 0UB

These financial statements were authorised for issue by the director on 30 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Disclosure of long or short period

These accounts cover a 15 month period to 5 April 2025 to better align with the tax year. The comparatives cover a 12 month period to 31 December 2024.

Revenue recognition

Turnover derived from ordinary activities represents the rents receivable. The company is not registered for VAT. Income is recognised when the right to rent falls due under the terms of the tenancy agreements.

 

Chervale Builders Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 5 April 2025 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Depreciation

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price.

 

Chervale Builders Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 5 April 2025 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

4

Investment properties

2025
£

At 1 January

566,000

Fair value adjustments

21,000

At 5 April

587,000

The investment properties comprise a portfolio of residential properties. The fair value of the investment properties has been arrived at on the basis of a valuation carried out on 5 April 2025 by the director. The valuation has been made on an open market value basis by reference to market evidence of transaction price for similar properties.

There has been no valuation of investment property by an independent valuer.

 

Chervale Builders Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 5 April 2025 (continued)

5

Creditors

Creditors: amounts falling due within one year

2025
£

2023
£

Due within one year

Taxation and social security

5,820

4,524

Accruals and deferred income

888

864

Other creditors

12,566

37,171

19,274

42,559

6

Share capital

Allotted, called up and fully paid shares

2025

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100