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Registered number: 13989135









CHATSWORTH HOMES GARBOLDISHAM LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CHATSWORTH HOMES GARBOLDISHAM LTD
REGISTERED NUMBER: 13989135

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stock and work in progress
 4 
3,313,939
949,696

Debtors: amounts falling due within one year
 5 
141,035
1,290

Cash at bank and in hand
  
145,346
-

  
3,600,320
950,986

Creditors: amounts falling due within one year
 6 
(1,167,317)
(959,796)

Net current assets/(liabilities)
  
 
 
2,433,003
 
 
(8,810)

Total assets less current liabilities
  
2,433,003
(8,810)

Creditors: amounts falling due after more than one year
 7 
(2,716,969)
-

  

Net liabilities
  
(283,966)
(8,810)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(284,066)
(8,910)

  
(283,966)
(8,810)


Page 1

 
CHATSWORTH HOMES GARBOLDISHAM LTD
REGISTERED NUMBER: 13989135

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.


The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
Mr J J H Peters
Director

Date: 22 May 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CHATSWORTH HOMES GARBOLDISHAM LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Chatsworth Homes Garboldisham Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Tennyson House, Cambridge Business Park,  Cambridge, CB4 0WZ.
The principal activity of the Company continued to be that of construction.
The Company is part of the JJ Peters group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentational currency is Pounds sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Director has considered the going concern basis in preparing these financial statements. He has concluded that the going concern basis is appropriate because sufficient funds will be generated from continued group support. The Director is confident that the group has the intention and ability to provide the support required.
The financial statements do not include any adjustments that would be result from the withdrawal of this support.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
CHATSWORTH HOMES GARBOLDISHAM LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Stock and work in progress

Stock and work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objectives evidence of impairment is found an impairment loss is recognised in the Statement of Comprehensive Income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
CHATSWORTH HOMES GARBOLDISHAM LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Stock and work in progress

2024
2023
£
£

Stock
949,696
949,696

Work in progress
2,364,243
-

3,313,939
949,696



5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
100
100

Other debtors
80,538
1,190

Prepayments and accrued income
60,397
-

141,035
1,290



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
898,319

Trade creditors
332,055
-

Amounts owed to group undertakings
527,030
60,277

Other taxation and social security
6,897
-

Other creditors
298,319
-

Accruals and deferred income
3,016
1,200

1,167,317
959,796



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,716,969
-


Included within creditors are secured debts amounting to £2,716,969 (2023 - £898,319) which are secured on the assets to which they relate

Page 5

 
CHATSWORTH HOMES GARBOLDISHAM LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
898,319

Amounts falling due 1-2 years

Bank loans
2,716,969
-



2,716,969
898,319



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares shares of £1.00 each
100
100



10.


Related party transactions

During the year the company operated loans with its fellow subsidaries. The amount due to its fellow subsidaries was £527,030 (2023 - £60,277). These loans are interest free and reapayable on demand and shown within creditors.
During the year the company operated a loan account with its parent. The amount due from its parent at the year end was £100 (2023 - £100). This loan is interest free and repayable on demand and shown within debtors.
During the year the company operated a loan with the director of the company. The balance owed to the director at the year end was £298,319 (2023 - £Nil). This loan is interest free and repayable on demand and shown within creditors.


11.


Controlling party

The controlling party is JJ Peters Limited by virtue of its 100% shareholding.
The Ultimate Controlling Party is Mr J J H Peters by virtue of his 100% shareholding in JJ Peters Limited.


Page 6