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Company Registration Number: NI038328
 
 
Chester Park Inns Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 September 2024



Chester Park Inns Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Eamon Diamond
Eileen Diamond
 
 
Company Secretary Eamon Diamond
 
 
Company Registration Number NI038328
 
 
Registered Office and Business Address 21 Howard Street
Belfast
BT1 6NB
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Belfast
BT1 1PG
 
 
Bankers Bank of Ireland
  1 Donegal Square
  BT1 5LR
 
   
Solicitors Joseph Donnelly and Co.
  6 Callender St
  Belfast
  BT1 5HX



Chester Park Inns Limited

CHARTERED ACCOUNTANTS REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of Chester Park Inns Limited
for the financial year ended 30 September 2024
 
In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 30 September 2024 as set out on pages  to 8 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of Chester Park Inns Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Institute of Chartered Accountants in Ireland and have complied with the relevant ethical guidance laid down by Institute of Chartered Accountants in Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 30 September 2024 your duty to ensure that Chester Park Inns Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Chester Park Inns Limited. You consider that Chester Park Inns Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Chester Park Inns Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Belfast
BT1 1PG
 
24 June 2025



Chester Park Inns Limited
Company Registration Number: NI038328
STATEMENT OF FINANCIAL POSITION
as at 30 September 2024

2024 2023
Notes £ £
 
Current Assets
Receivables 4 1,023,473 1,031,654
Cash and cash equivalents 636 16
───────── ─────────
1,024,109 1,031,670
───────── ─────────
Payables: amounts falling due within one year 5 (704,084) (700,270)
───────── ─────────
Net Current Assets 320,025 331,400
───────── ─────────
Total Assets less Current Liabilities 320,025 331,400
═════════ ═════════
 
Equity
Called up share capital 2 2
Retained earnings 320,023 331,398
───────── ─────────
Equity attributable to owners of the company 320,025 331,400
═════════ ═════════
 
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 taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
For the financial year ended 30 September 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 24 June 2025 and signed on its behalf by
           
           
________________________________          
Eamon Diamond          
Director          
           



Chester Park Inns Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 September 2024

   
1. General Information
 
Chester Park Inns Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 21 Howard Street, Belfast, BT1 6NB .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 year ended 30 September 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.
 
Trade and other receivables
Trade and other debtors 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.
 
Trade and other payables
Trade and other creditors 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.
 
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.
 
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 2, (2023 - 2).
 
  2024 2023
  Number Number
 
All 2 2
  ═════════ ═════════
       
4. Receivables 2024 2023
  £ £
 
Amounts owed by connected parties (Note 7) 999,450 1,009,330
Taxation  (Note 6) 1,699 -
Prepayments and accrued income 22,324 22,324
  ───────── ─────────
  1,023,473 1,031,654
  ═════════ ═════════
       
5. Payables 2024 2023
Amounts falling due within one year £ £
 
Trade payables - 17,079
Amounts owed to connected parties (Note 7) 560,091 536,565
Taxation  (Note 6) 23,993 26,136
Directors' current accounts - 490
Accruals 120,000 120,000
  ───────── ─────────
  704,084 700,270
  ═════════ ═════════
 
There are currently two registered charges;

The Government and Company of Bank of Ireland have an outstanding charge from 17 February 2006. This debenture includes a mortgage over all the company's freehold and leasehold lands, hereditaments, premises, property and all chattels both present and future, including without prejudice to the generality of the foregoing, the company's property and title to whcih is not registered or registerable in the land registry.

The Government and Company of Bank of Ireland have an outstanding assignment of life policy. The policy was agreed on 11th January 2011 for £1,500,000.00 with Axa Sun Life PLC.
       
6. Taxation 2024 2023
  £ £
 
Receivables:
VAT 1,699 -
  ═════════ ═════════
Payables:
VAT - 2,143
Corporation tax 50 50
PAYE / NI 23,943 23,943
  ───────── ─────────
  23,993 26,136
  ═════════ ═════════
           
7. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
Bangor Marine Court Hotel Ltd 999,450 (9,880) 1,009,330 1,009,330
  ───────── ───────── ───────── ═════════
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
Braidview Trading Ltd     560,091 536,565
      ═════════ ═════════
 
Net balances with other connected parties:
      2024 2023
      £ £
 
Bangor Marine Court Hotel Ltd     999,450 1,009,330
Braidview Trading Ltd     (560,091) (536,565)
      ───────── ─────────
      439,359 472,765
      ═════════ ═════════
 
Bangor Marine Court Hotel Ltd

Eamon and Eileen Diamond are shareholders and directors of Chester Park Inns Limited and Bangor Marine Court Hotel Ltd. At the 1st of October 2023 Bangor Marine Court Hotel Ltd owed Chester Park Inns Ltd £1,009,330 . Net transfers between the entities totalled £9,880 in the year leaving a closing debtor balance of £999,450 at 30th September 2024.


Braidview Trading Limited

Eamon and Eileen Diamond are shareholders and directors of Chester Park Inns Limited and Braidview Trading Ltd. At the 1st of October 2023 Chester Park Inns Ltd owed Braidview Trading Ltd £536,565. Net transfers between the two entities totalled £23,526 leaving a closing creditor balance of £560,091 at 30th September 2024.
   
8. Events After the End of the Reporting Period
 
There were no significant events after the year-end.