Registered number
04113222
Chartway Enterprises Ltd
Filleted Accounts
30 November 2024
Chartway Enterprises Ltd
Registered number: 04113222
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 385,000 232,735
Creditors: amounts falling due within one year 4 (175,102) (177,153)
Net current liabilities (175,102) (177,153)
Total assets less current liabilities 209,898 55,582
Creditors: amounts falling due after more than one year 5 (153,026) (149,970)
Provisions for liabilities (38,066) -
Net assets/(liabilities) 18,806 (94,388)
Capital and reserves
Called up share capital 1 1
Profit and loss account 18,805 (94,389)
Shareholder's funds 18,806 (94,388)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs S. Rogers
Director
Approved by the board on 5 August 2025
Chartway Enterprises Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Non-investment property fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
The company owns two investment properties which, originally valued at cost, are now carried on a fair market basis and will continue to be carried on the basis going forward. The company will look to carry out valuations, on an open market basis, every one to two years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Investment properties
£
Fair value
At 1 December 2023 232,735
Fair value gain in the year recognised in the profit and loss account 152,265
At 30 November 2024 385,000
Depreciation
At 30 November 2024 -
Fair value carrying amount after depreciation
At 30 November 2024 385,000
At 30 November 2023 232,735
The two investment properies have been valued by the director, using an online valuation tool, at £385,000. The valuation was based on the local market conditions extant at the time. The carrying amount brought forward was at cost.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20 521
Other creditors 175,082 176,632
175,102 177,153
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 153,026 149,970
6 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 153,026 149,970
The bank loans are secured by way of fixed charges over the investment properties.
7 Transactions with the director
At the balance sheet date, the company owed the director £174,062 (2023 - £176,532).
8 Other information
Chartway Enterprises Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Chartway
West Heath
Oxted
Surrey
RH8 0QF
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