BrightAccountsProduction v1.0.0 v1.0.0 2023-09-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the letting of its own properties. 28 May 2025 0 0 03802417 2024-08-31 03802417 2023-08-31 03802417 2022-08-31 03802417 2023-09-01 2024-08-31 03802417 2022-09-01 2023-08-31 03802417 uk-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03802417 uk-curr:PoundSterling 2023-09-01 2024-08-31 03802417 uk-bus:AbridgedAccounts 2023-09-01 2024-08-31 03802417 uk-core:ShareCapital 2024-08-31 03802417 uk-core:ShareCapital 2023-08-31 03802417 uk-core:RetainedEarningsAccumulatedLosses 2024-08-31 03802417 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 03802417 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-08-31 03802417 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 03802417 uk-bus:FRS102 2023-09-01 2024-08-31 03802417 uk-core:ParentEntities 2023-09-01 2024-08-31 03802417 uk-countries:Ireland 2023-09-01 2024-08-31 03802417 uk-bus:CompanySecretaryDirector1 2023-09-01 2024-08-31 03802417 uk-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 03802417
 
 
Chartsand Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 August 2024
Chartsand Limited
Company Registration Number: 03802417
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 August 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 4,791,586 4,791,586
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Current Assets
Receivables 234,057 198,156
Cash and cash equivalents 15,195 75,813
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249,252 273,969
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Payables: amounts falling due within one year (2,285,379) (2,126,178)
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Net Current Liabilities (2,036,127) (1,852,209)
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Total Assets less Current Liabilities 2,755,459 2,939,377
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Equity
Called up share capital 2 2
Retained earnings 2,755,457 2,939,375
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Equity attributable to owners of the company 2,755,459 2,939,377
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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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Income Statement and Directors' Report.
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 28 May 2025 and signed on its behalf by
           
           
           
John A. McElhinney          
Director          
           



Chartsand Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 August 2024

   
1. General Information
 
Chartsand Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 03802417. The registered office of the company is Fernhills House, Todd Street, Bury, GTR Manchester, BL9 5BJ, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 August 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance.   Revenue comprises the fair value of consideration received and receivable exclusive of value added tax and after discounts and rebates.

Where the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transaction, the fair value of the consideration is measured as the present value of all future receipts using the imputed rate of interest.

Revenue from the provision of rental property is recognised in the accounting period in which the rent is payable.  The company uses the percentage of completion method based on the actual rent as a percentage of the total services to be provided.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Income Statement as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Income Statement.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Statement of Financial Position bank overdrafts are shown within Payables.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Related parties
For the purposes of these financial statements a party is considered to be related to the company if:
 
- the party has the ability, directly or indirectly, through one or more intermediaries to control the company or exercise significant influence over the company in making financial and operating policy decisions or has joint control over the company;
- the company and the party are subject to common control;
- the party is an associate of the company or forms part of a joint venture with the company;
- the party is a member of key management personnel of the company or the company's parent, or a close family member of such as an individual, or is an entity under the control, joint control or significant influence of such individuals;
- the party is a close family member of a party referred to above or is an entity under the control or significant influence of such individuals; or
- the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company.
 
Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the company.

The company discloses transactions with related parties which are not wholly owned with the same group. It does not disclose transactions with members of the same group that are wholly owned.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 0, (2023 - 0).
       
4. Property, plant and equipment
  Investment Total
  properties  
     
  £ £
Cost or Valuation
At 1 September 2023 5,988,519 5,988,519
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At 31 August 2024 5,988,519 5,988,519
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Impairments
At 1 September 2023 1,196,933 1,196,933
  ───────── ─────────
 
At 31 August 2024 1,196,933 1,196,933
  ───────── ─────────
Carrying amount
At 31 August 2024 4,791,586 4,791,586
  ═════════ ═════════
At 31 August 2023 4,791,586 4,791,586
  ═════════ ═════════
 
The investment properties were measured at their cost at the year end, as directors are unable to establish their value without undue cost.  The directors report that they are not aware of any material change in the fair value of the investment properties at the time of approving the accounts.
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 August 2024.
   
6. Parent company
 
The company regards Andes Properties Limited as its parent company.
 
   
7. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.