REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 July 2023 to 28 June 2024 |
for |
Chris James Property Investments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 July 2023 to 28 June 2024 |
for |
Chris James Property Investments Ltd |
Chris James Property Investments Ltd (Registered number: 11439739) |
Contents of the Financial Statements |
for the Period 1 July 2023 to 28 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chris James Property Investments Ltd |
Company Information |
for the Period 1 July 2023 to 28 June 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Chris James Property Investments Ltd (Registered number: 11439739) |
Balance Sheet |
28 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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. |
Chris James Property Investments Ltd (Registered number: 11439739) |
Balance Sheet - continued |
28 June 2024 |
The financial statements were approved by the director and authorised for issue on |
Chris James Property Investments Ltd (Registered number: 11439739) |
Notes to the Financial Statements |
for the Period 1 July 2023 to 28 June 2024 |
1. | STATUTORY INFORMATION |
Chris James Property Investments Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Chris James Property Investments Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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 balance sheet date. |
Chris James Property Investments Ltd (Registered number: 11439739) |
Notes to the Financial Statements - continued |
for the Period 1 July 2023 to 28 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Financial instruments |
Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. |
Going concern |
At the balance sheet date the company had a negative balance sheet of £159,091 (2023: £6,673). The company accounts for its investments on the historical cost basis. The company is however reliant on the gains and income that will become due to it from the developments being undertaken by the subsidiary companies. As these developments remain uncompleted, the gains have not yet materialised and so the value is not reflected in these accounts.The Director is working with its funding providers to ensure that the developments being undertaken by the subsidiaries are completed and this will enable settlement of all financial liabilities of the company and provide the wider group with the cash needed to continue to trade. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Chris James Property Investments Ltd (Registered number: 11439739) |
Notes to the Financial Statements - continued |
for the Period 1 July 2023 to 28 June 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
and 28 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for period |
At 28 June 2024 |
NET BOOK VALUE |
At 28 June 2024 |
At 30 June 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2023 |
and 28 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for period |
At 28 June 2024 |
NET BOOK VALUE |
At 28 June 2024 |
At 30 June 2023 |
Chris James Property Investments Ltd (Registered number: 11439739) |
Notes to the Financial Statements - continued |
for the Period 1 July 2023 to 28 June 2024 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
and 28 June 2024 |
NET BOOK VALUE |
At 28 June 2024 |
At 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Other creditors |
Chris James Property Investments Ltd (Registered number: 11439739) |
Notes to the Financial Statements - continued |
for the Period 1 July 2023 to 28 June 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 23,186 | 34,083 |
Other Creditors | 3,460,000 | 3,157,702 |
Blend (Security Trustee) Limited hold a fixed and floating charge dated 2 June 2021 over all estates or interests in the freehold, leasehold and other immovable property owned now or in the future. |
Paragon Development Finance Limited hold a fixed charge over the land known as car park at 25-37 Albert Street, Swindle, comprised in a lease dated 31 October 2019. |
Paragon Development Finance Limited hold a fixed charge dated 8 October 2020 over shares in a subsidiary of the company. |
Route Finance Limited hold fixed charges dated 7 January 2019 and 29 June 2020 over shares in a subsidiary of the company. |