Company registration number 11714538 (England and Wales)
CHAPPELOW PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
CHAPPELOW PROPERTIES LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Chappelow Properties Ltd
CHAPPELOW PROPERTIES LTD
Statement Of Financial Position
as at 31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
745,636
745,636
Current assets
Cash at bank and in hand
1,936
12,208
Creditors: amounts falling due within one year
(583,835)
(583,810)
Net current liabilities
(581,899)
(571,602)
Total assets less current liabilities
163,737
174,034
Creditors: amounts falling due after more than one year
4
(134,461)
(159,417)
Net assets
29,276
14,617
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
29,274
14,615
Total equity
29,276
14,617
Chappelow Properties Ltd
CHAPPELOW PROPERTIES LTD
Statement Of Financial Position (CONTINUED)
as at 31 October 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 1 May 2025 and are signed on its behalf by:
N Chappelow
Director
Company Registration No. 11714538
Chappelow Properties Ltd
CHAPPELOW PROPERTIES LTD
Notes to the financial statements
for the year ended 31 October 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for rental income provided in the normal course of business. Turnover is recognised on a cash basis.
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 November 2023 and 31 October 2024
745,636
Investment properties are included at cost. The directors believe that cost is not materially different to their fair value.
Chappelow Properties Ltd
CHAPPELOW PROPERTIES LTD
Notes to the financial statements (CONTINUED)
for the year ended 31 October 2024
- 4 -
4
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
134,461
159,417
The bank loan is secured against the asset to which it relates.
Amounts included above which fall due after five years are as follows:
Payable by instalments
31,019
57,029
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2