REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
CHANTRIES AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
CHANTRIES AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD |
CHANTRIES AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 07825191) |
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 AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD |
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 AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 07825191) |
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 ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
CHANTRIES AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 07825191) |
STATEMENT OF FINANCIAL POSITION - continued |
31 December 2024 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CHANTRIES AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 07825191) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2024 |
1. | Statutory information |
Chantries and Pewleys Lettings & Property Management Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Significant judgements |
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 receivable in respect of letting and property management services performed during the year. Commissions are recognised over the period of the rental. Any amounts invoiced in advance of recognition of income are included within deferred income. |
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 and other short-term highly liquid investments with maturities of three months or less. |
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 AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 07825191) |
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 has established a good reputation and is continually obtaining new clients. |
The directors believe that, under the circumstances, it 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 AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 07825191) |
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 |
Additions |
At 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 |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Directors' loan accounts | - | 10,000 |
Corporation tax |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Corporation tax |
Aggregate amounts |
CHANTRIES AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 07825191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2024 |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Corporation tax |
Social security and other taxes |
Accruals and deferred income |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £0.10 | 66 | 99 |
The ordinary shares are divided into 330 each of ordinary and A ordinary shares of £0.10 each. They rank pari passu in all respects except that the A ordinary shares are non-voting and variable dividends may be paid. |
On 10 September 2024 all of the shares were sub-divided from £1.00 shares into £0.10 shares on the basis of 10 new shares for each 1 share currently held. |
On 30 September 2024 the company passed an ordinary resolution to purchase 165 ordinary shares from Richard Charles Prynne, a director of this company, and 165 ordinary shares from Louise Prynne, his wife. The purchase consideration was paid out of distributable profits and the shares were cancelled immediately upon acquisition. |
On 31 December 2024, 330 of the former ordinary shares were renamed A ordinary shares. |
8. | Operating lease commitments |
At 31 December 2024 the company had outstanding commitments for future minimum lease payments under a non-cancellable operating lease in respect of land and buildings of £43,500 (2023 - £7,500). |
9. | Directors' advances, credits and guarantees |
The loan of £10,000 to Christopher Dean, a director, was repaid during the year. |
10. | Client accounts |
The company operates a client bank account for client's monies. The balance on this account at 31 December 2024 was £86,783 (2023 - £99,182) which was matched by liabilities to individual clients. As these funds are held on behalf of clients these amounts have not been included in the company's assets and liabilities. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
CHANTRIES AND PEWLEYS LETTINGS & |
PROPERTY MANAGEMENT LTD |
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 and Pewleys Lettings & Property Management Ltd 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 and Pewleys Lettings & Property Management Ltd, 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 and Pewleys Lettings & Property Management Ltd and state those matters that we have agreed to state to the Board of Directors of Chantries and Pewleys Lettings & Property Management Ltd, 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 and Pewleys Lettings & Property Management Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Chantries and Pewleys Lettings & Property Management Ltd 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 profit of Chantries and Pewleys Lettings & Property Management Ltd. You consider that Chantries and Pewleys Lettings & Property Management Ltd 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 and Pewleys Lettings & Property Management Ltd. 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 |