Registered number
11481003
Chenoweths Holdings Ltd
Filleted Accounts
31 December 2024
Chenoweths Holdings Ltd
Registered number: 11481003
Consolidated Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 14,948 13,006
Tangible assets 4 4,406,174 3,457,186
Investment in subsidiaries 302 302
4,421,424 3,470,494
Current assets
Stocks 70,221 74,313
Debtors 5 221,438 87,573
Cash at bank and in hand 68,624 46,186
360,283 208,072
Creditors: amounts falling due within one year 6 (331,725) (267,826)
Net current assets/(liabilities) 28,558 (59,754)
Total assets less current liabilities 4,449,982 3,410,740
Creditors: amounts falling due after more than one year 7 (1,694,167) (856,842)
Provisions for liabilities (531,718) (458,054)
Net assets 2,224,097 2,095,844
Capital and reserves
Called up share capital 301 301
Revaluation reserve 8 1,469,041 1,469,040
Profit and loss account 744,451 621,716
Non-controlling interest 10,304 4,787
Shareholder's funds 2,224,097 2,095,844
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 his 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.
Julian Winston Chenoweth
Director
Approved by the board on 25 September 2025
Chenoweths Holdings Ltd
Notes to the Consolidated Accounts
for the year ended 31 December 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible 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, as follows:
Motor vehicles 10% reducing balance
Computer equipment 33% reducing balance
Plant and machinery 5% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Land and Buildings revalued at net realisable value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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 15 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 43,902
Additions 7,188
At 31 December 2024 51,090
Amortisation
At 1 January 2024 30,896
Provided during the year 5,246
At 31 December 2024 36,142
Net book value
At 31 December 2024 14,948
At 31 December 2023 13,006
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 2,672,401 569,662 494,278 3,736,341
Additions 840,458 178,629 141,498 1,160,585
Surplus on revaluation - - - -
Disposals - (69,382) (110,441) (179,823)
At 31 December 2024 3,512,859 678,909 525,335 4,717,103
Depreciation
At 1 January 2024 11,825 142,513 124,817 279,155
Charge for the year 3,259 38,662 44,071 85,992
On disposals - (9,121) (45,097) (54,218)
At 31 December 2024 15,084 172,054 123,791 310,929
Net book value
At 31 December 2024 3,497,775 506,855 401,544 4,406,174
At 31 December 2023 2,660,576 427,149 369,461 3,457,186
The land and buildings investment property was revalued on the 22nd January 2024 by Vickery Holman property consultants. The basis of this valuation was open market with a value of £2,650,000.
5 Debtors 2024 2023
£ £
Trade debtors 137,786 75,743
Other debtors 83,652 11,830
221,438 87,573
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,121 46,164
Obligations under finance lease and hire purchase contracts 57,633 90,839
Trade creditors 50,261 75,269
Taxation and social security costs 39,429 21,525
Other creditors 176,281 34,029
331,725 267,826
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,834 103,595
Obligations under finance lease and hire purchase contracts 172,638 95,334
Other creditors 1,513,695 657,912
1,694,167 856,842
8 Revaluation reserve 2024 2023
£ £
At 1 January 2024 1,469,040 99,953
Gain on revaluation of land and buildings - 1,369,087
At 31 December 2024 1,469,041 1,469,040
9 Controlling party
The parent company is ultimately controlled by Mr Julian Winston Chenoweth, director, who owns 100% of the issued shared capital.
10 Other information
Chenoweths Holdings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9 Chenoweth Business Park
Ruan High Lanes
Truro
Cornwall
TR2 5JT
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