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REGISTERED NUMBER: 09120283 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 September 2024

for

CHI HOMES LIMITED

CHI HOMES LIMITED (REGISTERED NUMBER: 09120283)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHI HOMES LIMITED

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: R J Gay
A Gay





REGISTERED OFFICE: Bath House
6-8 Bath Street
Redcliffe
Bristol
BS1 6HL





REGISTERED NUMBER: 09120283 (England and Wales)





ACCOUNTANTS: Gravita
Chartered Accountants
Bath House
6 - 8 Bath Street
Bristol
BS1 6HL

CHI HOMES LIMITED (REGISTERED NUMBER: 09120283)

Balance Sheet
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 58,513 58,267

CURRENT ASSETS
Stocks 95,450 96,744
Debtors 5 28,124 53,024
Cash at bank 19,681 31,922
143,255 181,690
CREDITORS
Amounts falling due within one year 6 (48,628 ) (143,394 )
NET CURRENT ASSETS 94,627 38,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

153,140

96,563

CREDITORS
Amounts falling due after more than one
year

7

(86,467

)

(16,667

)

PROVISIONS FOR LIABILITIES (14,628 ) (11,156 )
NET ASSETS 52,045 68,740

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 51,945 68,640
SHAREHOLDERS' FUNDS 52,045 68,740

CHI HOMES LIMITED (REGISTERED NUMBER: 09120283)

Balance Sheet - continued
30 SEPTEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2025 and were signed on its behalf by:





R J Gay - Director


CHI HOMES LIMITED (REGISTERED NUMBER: 09120283)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. COMPANY INFORMATION

Chi Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information including annual budgets and future cash-flows in making their assessment. Based on these assessments, given the measures that could be undertaken, and current resources available, the directors have concluded that they are able to continue to adopt the going concern basis in prepared the financial statements.

Turnover
Turnover represents the sales of developed properties and associated income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Office Equipment - 25% on cost

Work in progress
Work in progress is valued at the lower of cost and net realisable value and consists of all direct costs and project management expenses associated with the projects held in work in progress at the year end.

CHI HOMES LIMITED (REGISTERED NUMBER: 09120283)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

CHI HOMES LIMITED (REGISTERED NUMBER: 09120283)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 21,657 4,215 112,177 7,976 146,025
Additions - - 54,930 - 54,930
Disposals - - (84,500 ) - (84,500 )
At 30 September 2024 21,657 4,215 82,607 7,976 116,455
DEPRECIATION
At 1 October 2023 9,907 4,022 67,743 6,086 87,758
Charge for year 4,125 161 15,152 1,067 20,505
Eliminated on disposal - - (50,321 ) - (50,321 )
At 30 September 2024 14,032 4,183 32,574 7,153 57,942
NET BOOK VALUE
At 30 September 2024 7,625 32 50,033 823 58,513
At 30 September 2023 11,750 193 44,434 1,890 58,267

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,810 6,567
Warranty Escrow 5,000 5,000
Other debtors 17 -
Directors' current accounts 5,816 32,520
VAT - 6,254
Prepayments and accrued income 2,481 2,683
28,124 53,024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,924 10,000
Other loans 4,060 6,700
Hire purchase contracts 5,827 30,788
Trade creditors 23,854 46,301
Tax 3,342 39,001
VAT 2,834 -
Other creditors 3,087 2,808
Accruals and deferred income 1,700 7,796
48,628 143,394

CHI HOMES LIMITED (REGISTERED NUMBER: 09120283)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 3,924 10,000
Bank loans - 2-5 years 14,388 6,667
Other loans - 1-2 years 31,278 -
Hire purchase contracts 36,877 -
86,467 16,667

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 22,236 26,667
Hire purchase contracts 42,704 30,788
64,940 57,455

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
A Gay
Balance outstanding at start of year 16,260 27,170
Amounts advanced 2,206 19,281
Amounts repaid (15,558 ) (30,191 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,908 16,260

R J Gay
Balance outstanding at start of year 16,260 27,171
Amounts advanced 2,206 19,281
Amounts repaid (15,558 ) (30,192 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,908 16,260

The overdrawn directors loans carry no interest and were settled within 9 months of the year end.

CHI HOMES LIMITED (REGISTERED NUMBER: 09120283)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10. RELATED PARTY DISCLOSURES

During the year the company charged £nil (2023 - £13,002) to the Robert Gay and Allison Gay Partnership in respect of project management services supplied. The services are carried out on an arms length commercial basis. £8,002 was owing to the company at the year-end (2023 - £6,562).