REGISTERED NUMBER: 10207856 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHARING OAST LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,331,556

1,307,660

1,331,556

1,307,660

CURRENT ASSETS

Debtors

7

357,684

139,582

Cash at bank

156,074

1,171,962

513,758

1,311,544

CREDITORS

Amounts falling due within one year

8

233,519

1,332,055

NET CURRENT ASSETS/(LIABILITIES)

280,239

(20,511

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,611,795

1,287,149

CREDITORS

Amounts falling due after more than one year

9

(23,333

)

(63,334

)

PROVISIONS FOR LIABILITIES

11

(23,465

)

(24,483

)

NET ASSETS

1,564,997

1,199,332

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

1,564,897

1,199,232

SHAREHOLDERS' FUNDS

1,564,997

1,199,332

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

S Osman - Director

1.	STATUTORY INFORMATION

Charing Oast Limited 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:

10207856

Registered office:

368 Forest Road

London

E17 5JF

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.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Care related services

Turnover from a contract to provide care related services is recognised in the period in which services are provided on an accruals basis. Turnover recognised is dependent upon the type of care and funding that a resident receives. Any fees invoiced in advance are included within deferred income until the service is completed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, has been amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures, fittings and equipment

-

25% on reducing balance

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 27 ) .

4.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the Company's auditors for the audit of the Company's financial statements

7,320

6,960

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

580,000

AMORTISATION

At 1 January 2024

and 31 December 2024

580,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Freehold

and

property

equipment

Totals

£

£

£

COST

At 1 January 2024

1,444,333

180,448

1,624,781

Additions

57,528

10,699

68,227

At 31 December 2024

1,501,861

191,147

1,693,008

DEPRECIATION

At 1 January 2024

183,148

133,973

317,121

Charge for year

30,037

14,294

44,331

At 31 December 2024

213,185

148,267

361,452

NET BOOK VALUE

At 31 December 2024

1,288,676

42,880

1,331,556

At 31 December 2023

1,261,185

46,475

1,307,660

Included in the cost of Freehold Property are qualifying Plant and Machinery of £69,418 (2023: £69,418) professionally valued in accordance with the Capital Allowances Act 2001.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,721

5,945

Amounts owed by group undertakings

-

29,564

Amounts owed by connected undertakings

100,000

100,000

Other debtors

253,963

4,073

357,684

139,582

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 10)

40,000

40,000

Trade creditors

7,844

7,260

Amounts owed to group undertakings

-

1,070,000

Taxation and social security

84,837

84,721

Other creditors

100,838

130,074

233,519

1,332,055

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 10)

23,333

63,334

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

40,000

40,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

23,333

40,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

23,334

The Coronavirus Business Interruption Loan Scheme (CBILS) loan of £63,333 (2023: £103,333) and is repayable over the period until June 2026.

The rate of interest payable on the debt is 1.95% per annum over the Bank Base Rate.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

23,465

24,483

Deferred

tax

£

Balance at 1 January 2024

24,483

Provided during year

(1,018

)

Balance at 31 December 2024

23,465

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

13.

RESERVES

Retained

earnings

£

At 1 January 2024

1,199,232

Profit for the year

365,665

At 31 December 2024

1,564,897

14.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Jeffrey Klein (Senior Statutory Auditor)

for and on behalf of Klein Evangelou

15.	RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

2024

2023

£

£

Amounts owed to Group Undertakings

-

(1,070,000

)

Amounts owed by Group Undertakings

-

29,564

Amounts owed by Connected Undertakings

100,000

100,000

2024

2023

£

£

Management services charged by Group Undertakings

35,100

30,378

Related Party Relationship:

Group Undertakings:

Charing Care Limited

Charing Gardens Limited

Connected Undertakings:

CHC Assets Ltd

Connected Undertakings

A company having the same or predominantly the same shareholders and or Board of Directors but which neither is a parent, subsidiary, fellow subsidiary nor associated company.

16.	POST BALANCE SHEET EVENTS

No significant events are noted after the period ended 31 December 2024 to the date of signing this report.

17.	CONTROLLING PARTY