REGISTERED NUMBER: 08809843 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHASE GATE LTD

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Property, plant and equipment

4

5,803

7,738

Investments

5

100

100

Investment property

6

4,819,120

4,819,120

4,825,023

4,826,958

CURRENT ASSETS

Debtors

7

513,923

376,565

Cash at bank

339

2,948

514,262

379,513

CREDITORS

Amounts falling due within one year

8

1,028,873

1,032,595

NET CURRENT LIABILITIES

(514,611

)

(653,082

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,310,412

4,173,876

CREDITORS

Amounts falling due after more than one year

9

(3,512,820

)

(3,357,727

)

PROVISIONS FOR LIABILITIES

11

(205,610

)

(205,125

)

NET ASSETS

591,982

611,024

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

12

615,373

615,373

Retained earnings

(24,391

)

(5,349

)

SHAREHOLDERS' FUNDS

591,982

611,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Mr A S Christofis - Director

1.	STATUTORY INFORMATION

Chase Gate Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08809843

Registered office:

1 Kings Avenue

London

N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Chase Gate Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue

Revenue represents rents receivable during the year. Revenue is recognised when services are rendered to the customers.

Property, plant & equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% reducing balance

The company has adopted the policy of not to depreciate in the year of purchase of the asset, however full depreciation will be provided in the year of disposal.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Investment property

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Cash and cash equivalent

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

20,938

DEPRECIATION

At 1 January 2024

13,200

Charge for year

1,935

At 31 December 2024

15,135

NET BOOK VALUE

At 31 December 2024

5,803

At 31 December 2023

7,738

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

4,819,120

NET BOOK VALUE

At 31 December 2024

4,819,120

At 31 December 2023

4,819,120

Fair value at 31 December 2024 is represented by:

£

Valuation in 2014

337,997

Valuation in 2016

297,500

Valuation in 2018

(125,000

)

Valuation in 2023

310,000

Cost

3,998,623

4,819,120

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

3,998,623

3,998,623

Investment property was valued on an open market basis on 31 December 2024 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

513,923

376,565

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

19,838

25,015

Amounts owed to group undertakings

878,350

886,210

Other creditors

130,685

121,370

1,028,873

1,032,595

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

3,512,820

3,357,727

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

3,512,820

3,357,727

The loan is secured on the property of the company by way of a fixed and floating charge and contains a negative pledge.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Other timing differences

205,610

205,125

Deferred

tax

£

Balance at 1 January 2024

205,125

Charge to Income Statement during year

485

Balance at 31 December 2024

205,610

12.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

615,373

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors due within one year is an amount of £314,601 (2023: £366,297) due from connected companies with common directorship or control. The amount was interest free and repayable on demand.

Included in other creditors due within one year is an amount of £69,688 (2023: £60,600) due to connected companies with common directorship or control. Also included is an amount of £10,144 (2023: £Nil) due to the director of the company. The amounts were interest free and repayable on demand.

Included in other creditors due within one year is an amount of £9,900 (2023: £9,400) due to a connected company with common directorship and control. Interest rate at 16% p.a. was charged on the amount which is repayable on demand.