Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Mrs E J Bryce 19/04/2023 Mr J R Bryce 01/12/2017 05 May 2025 The principal activity of the Company during the financial year was the letting of property. 11091418 2024-07-31 11091418 bus:Director1 2024-07-31 11091418 bus:Director2 2024-07-31 11091418 2023-07-31 11091418 core:CurrentFinancialInstruments 2024-07-31 11091418 core:CurrentFinancialInstruments 2023-07-31 11091418 core:Non-currentFinancialInstruments 2024-07-31 11091418 core:Non-currentFinancialInstruments 2023-07-31 11091418 core:ShareCapital 2024-07-31 11091418 core:ShareCapital 2023-07-31 11091418 core:SharePremium 2024-07-31 11091418 core:SharePremium 2023-07-31 11091418 core:FurtherSpecificReserve1ComponentTotalEquity 2024-07-31 11091418 core:FurtherSpecificReserve1ComponentTotalEquity 2023-07-31 11091418 core:RetainedEarningsAccumulatedLosses 2024-07-31 11091418 core:RetainedEarningsAccumulatedLosses 2023-07-31 11091418 core:Vehicles 2023-07-31 11091418 core:FurnitureFittings 2023-07-31 11091418 core:OfficeEquipment 2023-07-31 11091418 core:Vehicles 2024-07-31 11091418 core:FurnitureFittings 2024-07-31 11091418 core:OfficeEquipment 2024-07-31 11091418 core:CostValuation 2023-07-31 11091418 core:RevaluationsIncreaseDecreaseInInvestments 2024-07-31 11091418 core:CostValuation 2024-07-31 11091418 bus:OrdinaryShareClass1 2024-07-31 11091418 bus:OrdinaryShareClass2 2024-07-31 11091418 2023-08-01 2024-07-31 11091418 bus:FilletedAccounts 2023-08-01 2024-07-31 11091418 bus:SmallEntities 2023-08-01 2024-07-31 11091418 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 11091418 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11091418 bus:Director1 2023-08-01 2024-07-31 11091418 bus:Director2 2023-08-01 2024-07-31 11091418 core:Vehicles core:TopRangeValue 2023-08-01 2024-07-31 11091418 core:FurnitureFittings core:TopRangeValue 2023-08-01 2024-07-31 11091418 core:OfficeEquipment core:TopRangeValue 2023-08-01 2024-07-31 11091418 2022-08-01 2023-07-31 11091418 core:Vehicles 2023-08-01 2024-07-31 11091418 core:FurnitureFittings 2023-08-01 2024-07-31 11091418 core:OfficeEquipment 2023-08-01 2024-07-31 11091418 core:Non-currentFinancialInstruments 2023-08-01 2024-07-31 11091418 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 11091418 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 11091418 bus:OrdinaryShareClass2 2023-08-01 2024-07-31 11091418 bus:OrdinaryShareClass2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11091418 (England and Wales)

CHARANNA ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

CHARANNA ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

CHARANNA ESTATES LIMITED

BALANCE SHEET

As at 31 July 2024
CHARANNA ESTATES LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 145,791 57,269
Investment property 4 10,295,000 9,935,000
Investments 5 77,000 75,000
10,517,791 10,067,269
Current assets
Debtors 6 854,642 802,105
Cash at bank and in hand 306,429 562,648
1,161,071 1,364,753
Creditors: amounts falling due within one year 7 ( 221,511) ( 229,448)
Net current assets 939,560 1,135,305
Total assets less current liabilities 11,457,351 11,202,574
Creditors: amounts falling due after more than one year 8 ( 6,146,745) ( 6,061,733)
Provision for liabilities ( 127,176) ( 39,856)
Net assets 5,183,430 5,100,985
Capital and reserves
Called-up share capital 9 4,406 4,406
Share premium account 4,390,395 4,390,395
Fair value reserve 563,087 291,587
Profit and loss account 225,542 414,597
Total shareholders' funds 5,183,430 5,100,985

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Charanna Estates Limited (registered number: 11091418) were approved and authorised for issue by the Board of Directors on 05 May 2025. They were signed on its behalf by:

Mr J R Bryce
Director
CHARANNA ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
CHARANNA ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Charanna Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received from letting properties in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 August 2023 72,142 45,000 17,277 134,419
Additions 109,565 0 0 109,565
At 31 July 2024 181,707 45,000 17,277 243,984
Accumulated depreciation
At 01 August 2023 16,975 44,250 15,925 77,150
Charge for the financial year 19,495 750 798 21,043
At 31 July 2024 36,470 45,000 16,723 98,193
Net book value
At 31 July 2024 145,237 0 554 145,791
At 31 July 2023 55,167 750 1,352 57,269

4. Investment property

Investment property
£
Valuation
As at 01 August 2023 9,935,000
Fair value movement 360,000
As at 31 July 2024 10,295,000

Valuation

The investment property has been valued by the director.

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 August 2023 75,000 75,000
Movement in fair value 2,000 2,000
At 31 July 2024 77,000 77,000
Carrying value at 31 July 2024 77,000 77,000
Carrying value at 31 July 2023 75,000 75,000

6. Debtors

2024 2023
£ £
Other debtors 854,642 802,105

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Taxation and social security 10,821 22,499
Obligations under finance leases and hire purchase contracts 10,393 4,296
Other creditors 190,297 192,653
221,511 229,448

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 6,029,555 6,018,440
Obligations under finance leases and hire purchase contracts 117,190 43,293
6,146,745 6,061,733

Investment property has been pledged as security for the bank loans and overdrafts included within creditors: amounts due within one year and after one year.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,203 Ordinary A shares of £ 1.00 each 2,203 2,203
2,203 Ordinary B shares of £ 1.00 each 2,203 2,203
4,406 4,406

10. Financial commitments

Commitments

Included in the balance sheet are financial commitments of £6,020,586 (2023 - £5,999,470). The director has given his personal guarantee towards the loan.

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amount owed by director 0 693