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Registered number: 03202114










CHADWICK DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
CHADWICK DEVELOPMENTS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 6

 
CHADWICK DEVELOPMENTS LIMITED
REGISTERED NUMBER: 03202114

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
833,759
835,177

Current assets
  

Debtors
 5 
13,286
10,758

Cash at bank and in hand
  
19,965
3,341

  
33,251
14,099

Creditors: amounts falling due within one year
 6 
(220,485)
(228,748)

Net current liabilities
  
 
 
(187,234)
 
 
(214,649)

Total assets less current liabilities
  
646,525
620,528

Creditors: amounts falling due after more than one year
 7 
(508,663)
(510,644)

Provisions for liabilities
  

Deferred tax
  
-
(355)

Net assets
  
137,862
109,529


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
136,862
108,529

  
137,862
109,529

Page 1

 
CHADWICK DEVELOPMENTS LIMITED
REGISTERED NUMBER: 03202114
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 July 2025.




Mr B.R. Desmond
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
CHADWICK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Chadwick Developments Limited (the Company) is a private company limited by shares, incorporated in England. The address of its registered office is Rutland House, 148 Edmund Street, Birmingham, West Midlands, B3 2FD. The address of its principal place of business is 19 Birchy Close, Dickens Heath Shirley, Solihull, West Midlands, B90 1QL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises rents received during the year.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicle
-
25% straight line
Office equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Page 3

 
CHADWICK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Current and deferred taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Page 4

 
CHADWICK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


Employees

2024
2023
£
£

Wages and salaries
-
6,250

Social security costs
-
857

-
7,107


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Investment property
Motor vehicle
Office equipment
Total

£
£
£
£



Cost


At 1 November 2023
833,759
26,185
1,219
861,163



At 31 October 2024

833,759
26,185
1,219
861,163



Depreciation


At 1 November 2023
-
24,767
1,219
25,986


Charge for the year on owned assets
-
1,418
-
1,418



At 31 October 2024

-
26,185
1,219
27,404



Net book value



At 31 October 2024
833,759
-
-
833,759



At 31 October 2023
833,759
1,418
-
835,177
Page 5

 
CHADWICK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Amounts owed associated undertakings
12,109
10,009

Prepayments and accrued income
1,177
749

13,286
10,758



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
6,895
1,271

Other creditors
1,845
1,246

Accruals and deferred income
211,745
226,231

220,485
228,748



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
508,663
510,644


 
Page 6