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Company No: 04914262 (England and Wales)

CHEVIOT HOUSE PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

CHEVIOT HOUSE PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

CHEVIOT HOUSE PROPERTIES LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
CHEVIOT HOUSE PROPERTIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS G Somogyi
T Somogyi
REGISTERED OFFICE 10 Broadfield Way
Buckhurst Hill
IG9 5AG
United Kingdom
COMPANY NUMBER 04914262 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
CHEVIOT HOUSE PROPERTIES LIMITED

BALANCE SHEET

As at 30 September 2024
CHEVIOT HOUSE PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 10,327,125 8,140,884
10,327,125 8,140,884
Current assets
Debtors 4 3,172,559 2,205,209
Cash at bank and in hand 205,504 969,835
3,378,063 3,175,044
Creditors: amounts falling due within one year 5 ( 8,302,187) ( 6,434,450)
Net current liabilities (4,924,124) (3,259,406)
Total assets less current liabilities 5,403,001 4,881,478
Creditors: amounts falling due after more than one year 6 ( 7,370) ( 16,500)
Provision for liabilities ( 173,473) ( 173,473)
Net assets 5,222,158 4,691,505
Capital and reserves
Called-up share capital 2 2
Fair value reserve 520,418 520,418
Profit and loss account 4,701,738 4,171,085
Total shareholders' funds 5,222,158 4,691,505

For the financial year ending 30 September 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 Cheviot House Properties Limited (registered number: 04914262) were approved and authorised for issue by the Board of Directors on 06 May 2025. They were signed on its behalf by:

G Somogyi
Director
CHEVIOT HOUSE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
CHEVIOT HOUSE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Cheviot House Properties 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 10 Broadfield Way, Buckhurst Hill, IG9 5AG, 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 represents the total invoice value of rent and service charge receivable during the period excluding VAT where applicable.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 October 2023 8,140,884
Additions 2,186,241
As at 30 September 2024 10,327,125

Valuation

The fair value of the investment property at 30 September 2024 is represented by:
Valuation in 2022 £447,671
Valuation in 2023 £246,219

Investment property was valued on a fair value basis on 30 September 2024 by the directors.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 9,633,234 7,446,944

4. Debtors

2024 2023
£ £
Trade debtors 7,662 18,711
Amounts owed by related parties 3,159,626 2,184,125
Other debtors 5,271 2,373
3,172,559 2,205,209

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 9,130 9,000
Amounts owed to related parties 7,891,342 6,132,709
Taxation and social security 207,584 146,363
Other creditors 194,131 146,378
8,302,187 6,434,450

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

2024 2023
£ £
Bank loans 7,370 16,500

There are no amounts included above in respect of which any security has been given by the small entity.

7. Reserves

Fair value reserve

2024 2023
£ £
At 1st September 2023 520,418 335,753
Property Valuation 0 246,220
Deferred Tax 0 (61,555)
520,418 520,418