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Registered number:  10891352














CHRODA DEVELOPMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


 
CHRODA DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10891352

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
1,322,903
1,074,188

Debtors: amounts falling due within one year
 4 
149,251
23,734

Cash at bank and in hand
 5 
61,022
602,027

  
1,533,176
1,699,949

Creditors: amounts falling due within one year
 6 
(385,282)
(1,126,768)

Net current assets
  
 
 
1,147,894
 
 
573,181

Total assets less current liabilities
  
1,147,894
573,181

Creditors: amounts falling due after more than one year
 7 
(631,890)
(34,474)

  

Net assets
  
516,004
538,707


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
516,002
538,705

  
516,004
538,707


Page 1

 
CHRODA DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10891352
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The director considers 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 director acknowledges his 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 by: 




Mr C Tushingham
Director

Date: 13 June 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CHRODA DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act
2006 and registered in England & Wales (no. 10891352). The registered office is Suite 205 Second Floor, No 1 Old Hall Street, Liverpool, Merseyside, England, L3 9GH.
These financial statements present information about the company as an individual undertaking. The
principal activity of the company is that of real estate development.

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

Interest income

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

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 3

 
CHRODA DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
CHRODA DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Debtors

2024
2023
£
£


Other debtors
149,251
23,734

149,251
23,734



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
61,022
602,027

61,022
602,027



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,455
5,189

Trade creditors
-
681

Corporation tax
30,994
124,300

Other taxation and social security
15,024
15,024

Other creditors
324,061
969,683

Accruals and deferred income
9,748
11,891

385,282
1,126,768


Page 5

 
CHRODA DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
28,890
34,474

Other loans
603,000
-

631,890
34,474


The following liabilities were secured:

2024
2023
£
£



Other loans
603,000
-

603,000
-

Details of security provided:

Other loans are secured by a fixed charge held against the investment property in the company.


8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,455
5,189

Amounts falling due 1-2 years

Bank loans
5,596
5,320

Amounts falling due 2-5 years

Bank loans
17,641
16,782

Amounts falling due after more than 5 years

Bank loans
5,653
12,371

Other loans
603,000
-

637,345
39,662


Page 6

 
CHRODA DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Related party transactions

Included in debtors ands creditors are the following amounts due from / (to) related parties at the balance sheet date:


2024
2023
£
£

C Tushingham
123,016
(527,360)
L & T Facilities Management Ltd
(323,996)
(448,900)
Chroda Limited
(66)
70

C Tushingham is the director.
L & T Facilities Management Ltd and Chroda Limited are connected companies.


10.


Controlling party

The company is under the control of the director.

 
Page 7