Company No: 08988430 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	9,412		12,853
Investments	5	100		100
		9,512		12,953
Current assets
Debtors	6	149,830		246,966
Cash at bank and in hand		435,632		344,776
		585,462		591,742
Creditors: amounts falling due within one year	7	( 236,696)		( 279,851)
Net current assets		348,766		311,891
Total assets less current liabilities		358,278		324,844
Provision for liabilities	8	( 2,293)		( 3,142)
Net assets		355,985		321,702
Capital and reserves
Called-up share capital		100		100
Profit and loss account		355,885		321,602
Total shareholder's funds		355,985		321,702

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Chesters Harcourt Limited (formerly Chesters Commercial Limited) (registered number: 08988430) were approved and authorised for issue by the Board of Directors on 04 September 2025. They were signed on its behalf by:

D J Foot Director

J J Read Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chesters Harcourt Limited (formerly Chesters Commercial Limited) (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is First Floor Motivo House, Bluebell Road, Yeovil, BA20 2FG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Revenue earned from acting as commercial property agents is recognised by reference to the stage of completion. Stage of completion is measured by reference to the proportion of the service carried out to date as a percentage of the total estimated service to be provided. Where this cannot be measured reliably, revenue is recognised only to the extent of the expenses recognised that are deemed recoverable.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings	10 years straight line
Office equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		6

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2024	22,000		22,000
At 31 December 2024	22,000		22,000
Accumulated amortisation
At 01 January 2024	22,000		22,000
At 31 December 2024	22,000		22,000
Net book value
At 31 December 2024	0		0
At 31 December 2023	0		0

4. Tangible assets

	Fixtures and fittings		Office equipment		Total
	£		£		£
Cost
At 01 January 2024	15,232		25,329		40,561
Additions	0		1,206		1,206
At 31 December 2024	15,232		26,535		41,767
Accumulated depreciation
At 01 January 2024	11,502		16,206		27,708
Charge for the financial year	1,523		3,124		4,647
At 31 December 2024	13,025		19,330		32,355
Net book value
At 31 December 2024	2,207		7,205		9,412
At 31 December 2023	3,730		9,123		12,853

5. Fixed asset investments

	Investments in joint ventures		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	100		100
At 31 December 2024	100		100
Carrying value at 31 December 2024	100		100
Carrying value at 31 December 2023	100		100

6. Debtors

	2024		2023
	£		£
Trade debtors	110,147		176,537
Amounts owed by Parent undertakings	0		1,320
Amounts owed by joint ventures	16,010		26,553
Other debtors	23,673		42,556
	149,830		246,966

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	26,083		7,931
Corporation tax	73,138		73,683
Other taxation and social security	49,309		57,340
Other creditors	88,166		140,897
	236,696		279,851

8. Provision for liabilities

	2024		2023
	£		£
Deferred tax	2,293		3,142

9. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemptions provided from disclosing transactions with its parent and other wholly owned group companies on the grounds that it is a wholly owned subsidiary.

Transactions with the entity's directors

Advances

D Foot
The director's loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at rates exceeding the official HMRC rates.

At 1 January 2024, the balance owed to the director was £12,501. During the year, £124,890 was advanced to the director, and £118,121 was repaid by the director. At 31 December 2023, the balance owed to the director was £5,732.

At 1 January 2023, the balance owed by the director was £15,497. During the year, £129,649 was advanced to the director, and £157,647 was repaid by the director. At 31 December 2024, the balance owed to the director was £12,501.

10. Ultimate controlling party

The company's immediate parent is Chesters Commercial Holdings Ltd, incorporated in England and Wales. It's registered office address is First Floor Motivo House, Bluebell Road, Yeovil, Somerset, United Kingdom, BA20 2FG.

These financial statements are available upon request from Companies House, Cardiff.