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Registration number: 10320493

Chatsbrook Capital Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Chatsbrook Capital Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

Chatsbrook Capital Limited

Registration number: 10320493

Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

7,699

3,371

Other financial assets

5

839,531

634,185

 

847,230

637,556

Current assets

 

Debtors

6

31,368

25,329

Other financial assets

5

1,715,612

436,710

Cash at bank and in hand

 

113,236

13,399

 

1,860,216

475,438

Creditors: Amounts falling due within one year

7

(1,308,818)

(607,146)

Net current assets/(liabilities)

 

551,398

(131,708)

Total assets less current liabilities

 

1,398,628

505,848

Creditors: Amounts falling due after more than one year

7

(1,225,724)

(440,188)

Provisions for liabilities

(1,079)

-

Net assets

 

171,825

65,660

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

171,725

65,560

Shareholders' funds

 

171,825

65,660



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Chatsbrook Capital Limited

Registration number: 10320493

Balance Sheet as at 31 August 2024 (continued)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 May 2025
 

A P Brooks
Director

   
     

 

Chatsbrook Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ketteringham Hall
Church Road
Ketteringham
Norfolk
NR18 9RS
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Chatsbrook Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Government grants

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets. Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% straight line

Motor vehicles

25% reducing balance

 

Chatsbrook Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
Financial Assets are measured at amortised cost.
 Impairment
Financial Assets are assessed at the end of the reporting period for any evidence of impairrment. If any impairment is identified this is recognised in the profit and loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Chatsbrook Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

20,360

13,939

34,299

Additions

6,900

-

6,900

At 31 August 2024

27,260

13,939

41,199

Depreciation

At 1 September 2023

20,296

10,631

30,927

Charge for the period

1,746

827

2,573

At 31 August 2024

22,042

11,458

33,500

Carrying amount

At 31 August 2024

5,218

2,481

7,699

At 31 August 2023

63

3,308

3,371

 

Chatsbrook Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

5

Other financial assets (current and non-current)

Financial assets at amortised cost
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

634,185

634,185

Additions

1,065,173

1,065,173

Disposals

(859,827)

(859,827)

At 31 August 2024

839,531

839,531

Impairment

Carrying amount

At 31 August 2024

839,531

839,531

 

Chatsbrook Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

5

Other financial assets (current and non-current) (continued)

Financial assets at amortised cost
£

Total
£

Current financial assets

Cost or valuation

At 1 September 2023

436,710

436,710

Additions

1,713,120

1,713,120

Disposals

(434,218)

(434,218)

At 31 August 2024

1,715,612

1,715,612

Impairment

Carrying amount

At 31 August 2024

1,715,612

1,715,612

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,307

1,270

Prepayments

1,488

-

Other debtors

28,573

24,059

 

31,368

25,329

 

Chatsbrook Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

966,844

498,978

Trade creditors

 

14,490

2,150

Directors' loan account

10

17

18,857

Taxation and social security

 

34,324

10,718

Other creditors

 

293,143

76,443

 

1,308,818

607,146

Due after one year

 

Loans and borrowings

9

1,225,724

440,188


 

Creditors include other borrowings which are secured of £668,650 (2023 - £444,269). These amounts are secured by way of a charge over current and non-current financial assets of the company. Creditors over one year include further other borrowings which are secured of £803,282 (2023 - £364,124). These amounts are also secured by way of a charge over current and non-current financial assets of the company. There is also a requirement for subordination of the loan from a related company to ensure that specific financial criteria is met whilst this borrowing is outstanding.

 

Chatsbrook Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

28,480

34,142

Other borrowings

1,197,244

406,046

1,225,724

440,188

2024
£

2023
£

Current loans and borrowings

Bank borrowings

6,618

6,618

Other borrowings

960,226

492,360

966,844

498,978

 

Chatsbrook Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

10

Related party transactions

Summary of transactions with other related parties

During the year the company received management and expense recharges from a company under the control of the director amounting to nil (2023- £15,897). The company received loans from this company and as at the 31st August 2024 owed £214,927 (2023- £74,200) to them. This loan was subject to subordination at the year end (see note 8).