Registered number
07337038
Chavtown Properties Limited
Filleted Accounts
31 August 2024
Chavtown Properties Limited
Registered number: 07337038
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 571 886
Investments 4 2,243,786 2,234,897
2,244,357 2,235,783
Current assets
Debtors 5 2,804 4,459
Cash at bank and in hand 20,128 13,664
22,932 18,123
Creditors: amounts falling due within one year 6 (373,868) (340,489)
Net current liabilities (350,936) (322,366)
Total assets less current liabilities 1,893,421 1,913,417
Creditors: amounts falling due after more than one year 7 (1,046,740) (1,056,797)
Net assets 846,681 856,620
Capital and reserves
Called up share capital 102 102
Revaluation reserve 8 555,503 555,503
Profit and loss account 291,076 301,015
Shareholders' funds 846,681 856,620
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J M Baxter
Director
Approved by the board on 23 April 2025
Chavtown Properties Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets as follows:
Plant and machinery 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 2,861
Disposals (1,770)
At 31 August 2024 1,091
Depreciation
At 1 September 2023 1,975
Charge for the year 101
On disposals (1,556)
At 31 August 2024 520
Net book value
At 31 August 2024 571
At 31 August 2023 886
4 Investments
Other
investments
£
Cost
At 1 September 2023 2,234,897
Additions 8,889
At 31 August 2024 2,243,786
5 Debtors 2024 2023
£ £
Other debtors 2,804 4,459
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 78,613 45,820
Trade creditors 311 7,982
Taxation and social security costs - 7,000
Other creditors 294,944 279,687
373,868 340,489
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 977,754 1,006,397
Other creditors 68,986 50,400
1,046,740 1,056,797
8 Revaluation reserve 2024 2023
£ £
At 1 September 2023 555,503 555,503
At 31 August 2024 555,503 555,503
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
James Martin Baxter
Directors loan account 235,687 (11,417) 26,673 250,943
Beverley Baxter
Directors loan account 44,000 - - 44,000
279,687 (11,417) 26,673 294,943
10 Controlling party
The company was controlled by the directors.
11 Other information
Chavtown Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
205 Queen Alexandra Road
Sunderand
Tyne and Wear
SR3 1XS
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