Chartwade Property Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07429172

Chartwade Property Limited

Filleted Unaudited Financial Statements

30 November 2024

Chartwade Property Limited

Financial Statements

Year Ended 30 November 2024

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

Chartwade Property Limited

Statement of Financial Position

30 November 2024

	2024		2023
Note	£	£	£

Fixed Assets

Tangible assets	5	58,731	36,406
Investments	6	5,848,000	5,132,000
		------------	------------
		5,906,731	5,168,406

Current Assets

Debtors	7	18,532	456,665
Cash at bank and in hand		240,346	295,048
		---------	---------
		258,878	751,713

Creditors: amounts falling due within one year	8	275,699		83,889
		---------		---------
Net Current (Liabilities)/Assets			( 16,821)	667,824
			------------	------------
Total Assets Less Current Liabilities			5,889,910	5,836,230

Provisions

Taxation including deferred tax	174,081	175,105
	------------	------------
Net Assets	5,715,829	5,661,125
	------------	------------

Chartwade Property Limited

Statement of Financial Position (continued)

30 November 2024

	2024		2023
Note	£	£	£

Capital and Reserves

Called up share capital	9	1,152	1,152
Revaluation reserve		1,948,029	1,948,029
Profit and loss account		3,766,648	3,711,944
		------------	------------
Shareholders Funds		5,715,829	5,661,125
		------------	------------

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 income and retained earnings has not been delivered.

For the year ending 30 November 2024 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 .

These financial statements were approved by the board of directors and authorised for issue on 10 June 2025 , and are signed on behalf of the board by:

Mrs G Chippendale

Director

Company registration number: 07429172

Chartwade Property Limited

Notes to the Financial Statements

Year Ended 30 November 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 South Lodge Court, Old Road, Chesterfield, Derbyshire, S40 3QG.

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

The turnover shown in the profit and loss account represents rents receivable during the year. Investment properties The investment properties are shown at market valuation determined by external agents.

Income tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. based on tax rates and laws enacted or substantively enacted at the balance sheet date. where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to Receive more tax.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 December 2023	841	71,149	71,990
Additions	–	27,788	27,788
	----	--------	--------
At 30 November 2024	841	98,937	99,778
	----	--------	--------
Depreciation
At 1 December 2023	819	34,765	35,584
Charge for the year	6	5,457	5,463
	----	--------	--------
At 30 November 2024	825	40,222	41,047
	----	--------	--------
Carrying amount
At 30 November 2024	16	58,715	58,731
	----	--------	--------
At 30 November 2023	22	36,384	36,406
	----	--------	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1 December 2023	5,132,000
Additions	716,000
	------------
At 30 November 2024	5,848,000
	------------
Impairment
At 1 December 2023 and 30 November 2024	–
	------------

Carrying amount
At 30 November 2024	5,848,000
	------------
At 30 November 2023	5,132,000
	------------

7. Debtors

	2024	2023
	£	£
Other debtors	18,532	456,665
	--------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	758	1,557
Trade creditors	23,006	11,549
Corporation tax	16,589	33,917
Social security and other taxes	–	3,902
Other creditors	235,346	32,964
	---------	--------
	275,699	83,889
	---------	--------

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1,152	1,152	1,152	1,152
	-------	-------	-------	-------

10. Directors' advances, credits and guarantees

There are no director's advances, credits or guarantees requiring disclosure.

11. Related party transactions