Acorah Software Products - Accounts Production 16.2.850 false true true false 1 April 2024 30 September 2024 30 September 2024 15153033 Mr Reece Page iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15153033 2024-03-31 15153033 2024-09-30 15153033 2024-04-01 2024-09-30 15153033 frs-core:Non-currentFinancialInstruments 2024-09-30 15153033 frs-core:PlantMachinery 2024-09-30 15153033 frs-core:PlantMachinery 2024-04-01 2024-09-30 15153033 frs-core:PlantMachinery 2024-03-31 15153033 frs-core:ShareCapital 2024-09-30 15153033 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 15153033 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2024-09-30 15153033 frs-bus:FilletedAccounts 2024-04-01 2024-09-30 15153033 frs-bus:SmallEntities 2024-04-01 2024-09-30 15153033 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2024-09-30 15153033 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2024-09-30 15153033 frs-bus:Director1 2024-04-01 2024-09-30 15153033 frs-countries:EnglandWales 2024-04-01 2024-09-30
Registered number: 15153033
Channing Properties & Developments Limited
Financial Statements
For the Period 1 April 2024 to 30 September 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
Marlowe Innovation Centre
Marlowe Way
Ramsgate
Kent
CT12 6FA
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 15153033
30 September 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 231
Investment Properties 5 279,881
280,112
CURRENT ASSETS
Cash at bank and in hand 100
100
Creditors: Amounts Falling Due Within One Year 6 (730 )
NET CURRENT ASSETS (LIABILITIES) (630 )
TOTAL ASSETS LESS CURRENT LIABILITIES 279,482
Creditors: Amounts Falling Due After More Than One Year 7 (282,495 )
NET LIABILITIES (3,013 )
CAPITAL AND RESERVES
Called up share capital 8 100
Profit and Loss Account (3,113 )
SHAREHOLDERS' FUNDS (3,013)
For the period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Reece Page
Director
10th June 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Channing Properties & Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15153033 . The registered office is Unit 72 Maple Leaf Business Park, Manston, Rasmgate, Kent, CT12 5GD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5 years, straight line
2.4. Investment Properties
All investment properties are measured at fair value, which is determined annually based on current market rents and investment yields for comparable properties. Adjustments are made where necessary to reflect differences in the nature, location, or condition of the individual assets.
Depreciation is not charged on investment properties. Changes in fair value are recognised in the profit and loss account. Corresponding amounts are transferred to a separate non-distributable reserve, which is ring-fenced from distribution.
The fair value of investment properties has been determined by the directors using current market rents and investment yields for comparable properties, with adjustments for location and condition. No external valuation was undertaken during the year.
Deferred taxation is recognised at each valuation period based on measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2024 -
Additions 250
As at 30 September 2024 250
Depreciation
As at 1 April 2024 -
Provided during the period 19
As at 30 September 2024 19
Net Book Value
As at 30 September 2024 231
As at 1 April 2024 -
Page 2
Page 3
5. Investment Property
30 September 2024
£
Fair Value
As at 1 April 2024 -
Additions 279,881
As at 30 September 2024 279,881
6. Creditors: Amounts Falling Due Within One Year
30 September 2024
£
Other creditors 730
7. Creditors: Amounts Falling Due After More Than One Year
30 September 2024
£
Other creditors 282,495
8. Share Capital
30 September 2024
£
Allotted, Called up and fully paid 100
9. Reserves
Non-distributable reserves arise from the surplus on the revaluation of investment properties, in accordance with Section 16 of FRS 102. These reserves are not available for distribution and are therefore ring-fenced. In line with Section 29 of FRS 102, a deferred tax liability is recognised on the revaluation surplus. Appropriate disclosures are made in the notes to the financial statements regarding the revaluation and associated deferred tax.
10. Related Party Transactions
During the year, the Company received a new loan of £282,494 from a related party entity under common control, as it is owned by the same sole shareholder and director. The loan is unsecured, interest-free, and there are no formal repayment terms in place.
Page 3