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REGISTERED NUMBER: 10228865 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 AUGUST 2024

FOR

CHESHUNT PROPERTIES LTD

CHESHUNT PROPERTIES LTD (REGISTERED NUMBER: 10228865)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 AUGUST 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


CHESHUNT PROPERTIES LTD (REGISTERED NUMBER: 10228865)

STATEMENT OF FINANCIAL POSITION
28 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 5,463 7,284
Investment property 5 2,825,000 2,825,000
2,830,463 2,832,284

CURRENT ASSETS
Debtors 6 250,805 325,213
Cash at bank 14,323 16,480
265,128 341,693
CREDITORS
Amounts falling due within one year 7 630,566 668,173
NET CURRENT LIABILITIES (365,438 ) (326,480 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,465,025

2,505,804

CREDITORS
Amounts falling due after more than one year 8 (2,496,334 ) (2,461,042 )

PROVISIONS FOR LIABILITIES 10 (15,456 ) (15,912 )
NET (LIABILITIES)/ASSETS (46,765 ) 28,850

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 42,262 42,262
Retained earnings (89,127 ) (13,512 )
(46,765 ) 28,850

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CHESHUNT PROPERTIES LTD (REGISTERED NUMBER: 10228865)

STATEMENT OF FINANCIAL POSITION - continued
28 AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:





Mr S T Savage - Director


CHESHUNT PROPERTIES LTD (REGISTERED NUMBER: 10228865)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 AUGUST 2024

1. STATUTORY INFORMATION

Cheshunt Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10228865

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgement and estimates during the preparation of the financial statements.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment
losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% on reducing balance

The company has adopted the policy of not depreciating assets in the year of purchase. However, full depreciation will be provided in the year of disposal.

CHESHUNT PROPERTIES LTD (REGISTERED NUMBER: 10228865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

CHESHUNT PROPERTIES LTD (REGISTERED NUMBER: 10228865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 29 August 2023
and 28 August 2024 15,540
DEPRECIATION
At 29 August 2023 8,256
Charge for year 1,821
At 28 August 2024 10,077
NET BOOK VALUE
At 28 August 2024 5,463
At 28 August 2023 7,284

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29 August 2023
and 28 August 2024 2,825,000
NET BOOK VALUE
At 28 August 2024 2,825,000
At 28 August 2023 2,825,000

Fair value at 28 August 2024 is represented by:
£   
Valuation in 2020 56,353
Cost 2,768,647
2,825,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,768,647 2,768,647

Investment properties were valued on an open market basis on 28 August 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,376 19,400
Amounts owed by group undertakings 26,998 5,490
Other debtors 196,431 300,323
250,805 325,213

CHESHUNT PROPERTIES LTD (REGISTERED NUMBER: 10228865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,533 5,396
Trade creditors 20,298 22,473
Amounts owed to group undertakings 593,672 634,229
Other creditors 11,063 6,075
630,566 668,173

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 2,496,334 2,461,042

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,665 11,235

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2-5 years 2,467,647 2,426,822

The bank loans are secured by way of fixed and floating charge on the investment property of the company and contains a negative pledge.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances (456 ) 3,357
Other timing differences 15,912 12,555
15,456 15,912

Deferred
tax
£   
Balance at 29 August 2023 15,912
Credit to Income Statement during year (456 )
Balance at 28 August 2024 15,456

11. RESERVES
Fair
value
reserve
£   
At 29 August 2023
and 28 August 2024 42,262

CHESHUNT PROPERTIES LTD (REGISTERED NUMBER: 10228865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

12. RELATED PARTY DISCLOSURES

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.

Included in the other debtors due within one year is an amount of £85,767 (2023: £189,768) due from connected companies under common control. The loan is interest free and recoverable on demand.

Included in the other creditors due within one year is an amount of £8,494 (2023: £3,500) due to connected companies under common control. The loan is interest free and repayable on demand.