Company registration number 01928337 (England and Wales)
CHURCHMANOR LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
CHURCHMANOR LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
CHURCHMANOR LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
44,942
45,842
Investment property
4
10,804,672
10,739,073
10,849,614
10,784,915
Current assets
Debtors
5
1,416,440
1,947,508
Cash at bank and in hand
409,195
80,383
1,825,635
2,027,891
Creditors: amounts falling due within one year
6
(219,222)
(4,485,833)
Net current assets/(liabilities)
1,606,413
(2,457,942)
Total assets less current liabilities
12,456,027
8,326,973
Creditors: amounts falling due after more than one year
7
(3,910,678)
-
Provisions for liabilities
(1,238,333)
(1,179,365)
Net assets
7,307,016
7,147,608
Capital and reserves
Called up share capital
100
100
Revaluation reserve
8
(486,718)
(738,568)
Profit and loss reserves
9
7,793,634
7,886,076
Total equity
7,307,016
7,147,608

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 September 2025 and are signed on its behalf by:
Mr S M Clark
Mr A D Rosten
Director
Director
Company registration number 01928337 (England and Wales)
CHURCHMANOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Churchmanor Limited is a private company limited by shares incorporated in England and Wales. The registered office is Montague House, 11 Black Horse Lane, Ipswich, IP1 2EF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The Company is dependent upon the ongoing support of its finance providers. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate support and resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance

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.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date less accrued rent receivable debtors. Changes in fair value are recognised in profit or loss.

CHURCHMANOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
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 current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

CHURCHMANOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

CHURCHMANOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2024
56,305
Additions
731
At 31 March 2025
57,036
Depreciation and impairment
At 1 April 2024
10,463
Depreciation charged in the year
1,631
At 31 March 2025
12,094
Carrying amount
At 31 March 2025
44,942
At 31 March 2024
45,842
4
Investment property
2025
£
Fair value
At 1 April 2024
10,739,073
Disposals
(55,222)
Revaluations
120,821
At 31 March 2025
10,804,672

The most recent professional valuation of commercial investment property was carried out during March 2024 by JLL who are not connected with the company.

The most recent professional valuation of residential investment property was carried out during August 2021 by Fenn Wright who are not connected with the company.

Both valuations were made on an open market value basis in accordance with the RICS Valuation - Global Standards.

The fair value as at 31 March 202 5, has been determined by director S M Clark FRICS, who has the experience and is professionally qualified to carry out an appropriate valuation.

CHURCHMANOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
62,305
14,470
Amounts owed by group undertakings
966,288
1,576,288
Other debtors
387,847
356,750
1,416,440
1,947,508
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
2,939,750
Trade creditors
19,661
38,702
Corporation tax
42,973
23,480
Other taxation and social security
30,144
-
0
Other creditors
126,444
1,483,901
219,222
4,485,833

The bank loans are secured by way of fixed charges over certain investment properties.

Included in other creditors are loans of £nil (2024: £1,303,117) which are secured by way of a fixed charge over certain investment properties.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,910,678
-
0
CHURCHMANOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
8
Revaluation reserve
2025
2024
£
£
At the beginning of the year
(738,568)
(1,870,307)
Revaluation arising in the year transferred from retained earnings
192,882
1,525,699
Deferred tax on investment property transferred from retained earnings
58,968
(393,960)
At the end of the year
(486,718)
(738,568)

Fair value and deferred tax movements on investment properties are transferred from retained earnings to the revaluation reserve.

9
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
7,886,076
7,873,829
Profit for the year
159,408
1,143,986
Transfer from revaluation reserve
(251,850)
(1,131,739)
At the end of the year
7,793,634
7,886,076
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Christopher Barrett
Statutory Auditor:
Ensors
Date of audit report:
30 September 2025
CHURCHMANOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
11
Operating lease commitments - Lessors
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease receipts:

2025
2024
£
£
3,707,080
3,681,803

£0.5m of the contracted amount for 2025 relates to a tenant undergoing a restructuring plan and there is material uncertainty regarding the recoverability of this amount. Management are confident in their ability to replace this tenant if necessary.

12
Parent company

The parent company is Chuchmanor Holdings Limited by virtue of its 100% shareholding. The registered office is Montague House, 11 Black Horse Lane, Ipswich, Suffolk, IP1 2EF.

The ultimate controlling party is S M Clark.

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