Company Registration No. 03163096 (England and Wales)
CHILTERN HOUSE BUSINESS CENTRE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
CHILTERN HOUSE BUSINESS CENTRE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CHILTERN HOUSE BUSINESS CENTRE LTD
Company Registration No. 03163096
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,138,972
4,148,559
Current assets
Debtors
4
131,570
68,607
Cash at bank and in hand
29,030
89,022
160,600
157,629
Creditors: amounts falling due within one year
5
(196,596)
(243,203)
Net current liabilities
(35,996)
(85,574)
Total assets less current liabilities
4,102,976
4,062,985
Creditors: amounts falling due after more than one year
6
(1,547,867)
(1,499,736)
Provisions for liabilities
(146,671)
(123,164)
Net assets
2,408,438
2,440,085
Capital and reserves
Called up share capital
8
100
100
Revaluation reserve
1,850,709
1,850,709
Profit and loss reserves
557,629
589,276
Total equity
2,408,438
2,440,085
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CHILTERN HOUSE BUSINESS CENTRE LTD
Company Registration No. 03163096
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 18 June 2025
Ms E Lawrenson
Director
CHILTERN HOUSE BUSINESS CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Chiltern House Business Centre Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Chiltern House, 45 Station Road, Henley on Thames, RG9 1AT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
not depreciated due to significant expenditure incurred on maintenance and renewals.
Plant and equipment
Over 4 years
Fixtures and fittings
Over 4 and 8 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
CHILTERN HOUSE BUSINESS CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
CHILTERN HOUSE BUSINESS CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
4,100,000
662,549
4,762,549
Additions
6,214
6,214
At 31 March 2024
4,100,000
668,763
4,768,763
Depreciation and impairment
At 1 April 2023
613,990
613,990
Depreciation charged in the year
15,801
15,801
At 31 March 2024
629,791
629,791
Carrying amount
At 31 March 2024
4,100,000
38,972
4,138,972
At 31 March 2023
4,100,000
48,559
4,148,559
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
23,076
11,983
Other debtors
108,494
56,624
131,570
68,607
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
22,297
81,999
Trade creditors
7,910
6,641
Taxation and social security
88,813
80,281
Other creditors
77,576
74,282
196,596
243,203
CHILTERN HOUSE BUSINESS CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,486,042
1,431,861
Other creditors
61,825
67,875
1,547,867
1,499,736
7
Loans and overdrafts
2024
2023
£
£
Bank loans
1,508,339
1,513,860
Payable within one year
22,297
81,999
Payable after one year
1,486,042
1,431,861
The company's secured bank loans are secured by way of a charge over its freehold property.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each of £1 each
100
100
100
100
9
Related party transactions
At the balance sheet date, the company was owed £88,415 (2023 - £40,923) by Seal Recruitment Solutions International Ltd, a connected company.