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COMPANY REGISTRATION NUMBER: 10701733
CHARLES EDWARD PROPERTIES LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2025
CHARLES EDWARD PROPERTIES LTD
STATEMENT OF FINANCIAL POSITION
31 March 2025
2025
2024
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,377,663
1,356,732
CURRENT ASSETS
Debtors
6
28,901
10,816
Cash at bank and in hand
2,263
18,017
--------
--------
31,164
28,833
CREDITORS: amounts falling due within one year
7
629,659
542,400
---------
---------
NET CURRENT LIABILITIES
598,495
513,567
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
779,168
843,165
CREDITORS: amounts falling due after more than one year
8
766,211
798,187
PROVISIONS
1,595
7,673
---------
---------
NET ASSETS
11,362
37,305
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
3
3
Profit and loss account
11,359
37,302
--------
--------
SHAREHOLDERS FUNDS
11,362
37,305
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CHARLES EDWARD PROPERTIES LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 23 July 2025 , and are signed on behalf of the board by:
Mr S Curtis
Director
Company registration number: 10701733
CHARLES EDWARD PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kitteon House, Kettering Parkway, Kettering Venture Park, Kettering, Northamptonshire, NN15 6XW.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the amount derived from rents receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Fixtures and fittings
-
10% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).
5. TANGIBLE ASSETS
Freehold property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2024
1,182,038
845
188,706
12,527
1,384,116
Additions
464
45,470
45,934
------------
-------
---------
--------
------------
At 31 March 2025
1,182,038
1,309
234,176
12,527
1,430,050
------------
-------
---------
--------
------------
Depreciation
At 1 April 2024
338
21,137
5,909
27,384
Charge for the year
169
23,417
1,417
25,003
------------
-------
---------
--------
------------
At 31 March 2025
507
44,554
7,326
52,387
------------
-------
---------
--------
------------
Carrying amount
At 31 March 2025
1,182,038
802
189,622
5,201
1,377,663
------------
-------
---------
--------
------------
At 31 March 2024
1,182,038
507
167,569
6,618
1,356,732
------------
-------
---------
--------
------------
6. DEBTORS
2025
2024
£
£
Trade debtors
23,359
10,800
Other debtors
5,542
16
--------
--------
28,901
10,816
--------
--------
7. CREDITORS: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
15,000
15,000
Trade creditors
17,080
11,198
Amounts owed to group undertakings and undertakings in which the company has a participating interest
18,518
Social security and other taxes
3,712
Other creditors
579,061
512,490
---------
---------
629,659
542,400
---------
---------
Bank loans and overdrafts are secured by fixed and floating charges over assets and undertakings of the company.
8. CREDITORS: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
766,211
798,187
---------
---------
Bank loans and overdrafts are secured by fixed and floating charges over assets and undertakings of the company.
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
5,407
Later than 1 year and not later than 5 years
13,969
--------
----
19,376
--------
----
10. RELATED PARTY TRANSACTIONS
During the year the directors advanced monies to the company. At 31 March 2025 the amount due from the company was £ 561,240 (2024 - £ 507,840 ).