REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED (REGISTERED NUMBER: 14068850) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED |
COMPANY INFORMATION |
for the year ended 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
39 Berwyn Road |
Richmond |
Surrey |
TW10 5BU |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED (REGISTERED NUMBER: 14068850) |
STATEMENT OF FINANCIAL POSITION |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' DEFICIT | ( |
) | ( |
) |
The directors acknowledge their 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. |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED (REGISTERED NUMBER: 14068850) |
STATEMENT OF FINANCIAL POSITION - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED (REGISTERED NUMBER: 14068850) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2024 |
1. | Statutory information |
Chantries & Pewleys Estate Agents Cranleigh Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
The directors have not been required to make any material critical judgements in the process of applying the company's accounting policies. |
Turnover |
Turnover represents commissions on sales of properties. Commissions are recognised when the outcome of the transaction can be estimated reliably, usually on exchange of contracts for the sale of the property. |
Tangible fixed assets |
Office furniture and equipment | - |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds only basic financial instruments which comprise cash, trade and other debtors and trade and other creditors. |
Cash - these include deposits held with banks. |
Trade and other debtors - these are initially recognised at the transaction price and are subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount expected to be receivable, net of any impairment. |
Trade and other creditors - these are initially measured at the transaction price and are subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable. |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED (REGISTERED NUMBER: 14068850) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2024 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current tax. Tax is recognised in the Income Statement. |
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 statement of financial position date. |
Employee benefits |
Short term benefits |
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. An accrual is recognised for short term compensated absences where entitlement has accumulated, but has not been taken, at the reporting date. |
Defined contribution pension scheme |
The company operates a defined contribution pension scheme, the assets of which are held separately from those of the company in independently administered funds. Contributions payable are recognised in the income statement in the year to which the contributions relate. |
Operating leases |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease. |
Going concern |
The company is in the early stages of establishing a well respected brand in a new location. |
The group of which it is a part maintains a tight control on overheads and has a conservative policy on maintaining cash reserves in order to cover any deficit caused by unexpected trading conditions. The parent company, Chantries and Pewleys Estate Agents Ltd, has agreed to continue to support the company until it has generated sufficient resources through trading to support itself. The directors therefore believe the company is well placed to manage its business risks for the foreseeable future. |
Therefore the directors have adopted the going concern basis of accounting in preparing these financial statements. |
3. | Employees and directors |
The average number of employees during the year was |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED (REGISTERED NUMBER: 14068850) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2024 |
4. | Tangible fixed assets |
Office |
furniture |
and |
equipment |
£ |
Cost |
At 1 January 2024 |
and 31 December 2024 |
Depreciation |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Accruals and deferred income |
The amounts owed to group undertakings relates to trading and cashflow facilities advanced by Chantries and Pewleys Estate Agents Ltd which are interest free, unsecured and repayable on demand. |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED (REGISTERED NUMBER: 14068850) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2024 |
8. | Other financial commitments |
Minimum lease payments under non-cancellable operating leases of land and buildings fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year | 20,000 | 20,000 |
Between one and five years | 80,000 | 80,000 |
After more than five years | 54,247 | 74,247 |
£154,247 | £174,247 |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
CHANTRIES & PEWLEYS ESTATE AGENTS |
CRANLEIGH LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chantries & Pewleys Estate Agents Cranleigh Limited for the year ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Chantries & Pewleys Estate Agents Cranleigh Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chantries & Pewleys Estate Agents Cranleigh Limited and state those matters that we have agreed to state to the Board of Directors of Chantries & Pewleys Estate Agents Cranleigh Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chantries & Pewleys Estate Agents Cranleigh Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Chantries & Pewleys Estate Agents Cranleigh Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Chantries & Pewleys Estate Agents Cranleigh Limited. You consider that Chantries & Pewleys Estate Agents Cranleigh Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Chantries & Pewleys Estate Agents Cranleigh Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
39 Berwyn Road |
Richmond |
Surrey |
TW10 5BU |