Registration number:
Chesham Place Limited
for the Year Ended 31 December 2024
Registration number:
Chesham Place Limited
for the Year Ended 31 December 2024
Chesham Place Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Chesham Place Limited
Company Information
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Directors |
Grand Street Investments Limited Bikala Holdings Limited Latina Associates Limited Dalaro Properties Inc Cheltrans Company Inc. Chesham Invest Corp Kantor Property Limited Clear Beach Front Assets Limited Blue Water Limited Ocorian Private Client (Guernsey) Limited Mr Edward Jonathan Corcos Album Mrs Sarah Caitlin Conway Mr Woods White Staton Welten Mrs Monica Bertoni Mrs Franki Sue Cohen Mr Jamie Kyffin-Topp Mr Roger Michael Boyland Mrs Bernadette Lejeune Mrs Patricia Migliano Otero Mrs Leila Garadaghi-Pour Mr Jacques Rene Roger Seguin Mr Yoav Gottesman |
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Company secretary |
Mr Adam Sheehan |
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Registered office |
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Auditors |
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Chesham Place Limited
(Registration number: 02979931)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Reserves |
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Revaluation reserve |
405,280 |
255,675 |
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Retained earnings |
502,373 |
293,999 |
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Shareholders' funds |
907,653 |
549,674 |
Approved and authorised by the
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Chesham Place Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
UK
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements reflect all transactions including those with, for and on behalf of leaseholders.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for service charges in respect of the property at 30-37 Chesham Place. Turnover is received wholly within the United Kingdom.
Tax
The company's business consists of the management of property on behalf of leaseholders, on a not-for-profit basis. The company is only liable to tax on any non-business sources of income.
Chesham Place Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery, fixtures and fittings |
20% straight line |
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Computer equipment |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Total cash at bank and in hand includes £805,440 (2023: £972,799) of deposits held on behalf of leaseholders. These monies do not belong to the company and this is represented by a corresponding creditor of £805,440 (2023: £972,799) included in current liabilities.
Trade debtors
Trade debtors are amounts due from leaseholders in respect of service charges yet to be collected.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the directors' estimate of cost.
Chesham Place Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, including obligations to pay for goods and services acquired for and on behalf of the leaseholders (where the company is acting as an undisclosed agent).
Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Defined contribution pension obligation
Short-term employee benefits and contributions to defined contribution pension plans are recognised as an expense in the period in which they are incurred.
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Staff numbers |
The average number of persons employed by the company during the year, including directors, was
Chesham Place Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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The company owns freehold property out of which long leasehold interests of 999 years have been granted. The historical cost of the freehold interest in the property is nil. In the directors' opinion the fair value of the freehold interest in the property at 31 December 2024 is nil (2023: nil).
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Stocks |
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2024 |
2023 |
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Inventory |
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Chesham Place Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Debtors |
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Current |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Trade creditors |
102,763 |
146,916 |
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Taxation and social security |
38,717 |
40,441 |
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Accruals and deferred income |
34,573 |
35,032 |
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Other creditors |
83,813 |
127,101 |
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Pension contributions unpaid |
8,547 |
7,323 |
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Leaseholders' deposit accounts |
805,440 |
972,799 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £