Company registration number 00426720 (England and Wales)
CHASELET LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
CHASELET LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
CHASELET LIMITED
COMPANY INFORMATION
- 1 -
Directors
Miss L Chase-Gardener
Mrs V Harvey
Secretary
Mrs V Harvey
Company number
00426720
Registered office
Redbury Farm
Colchester Road
Ardleigh
Colchester
Essex
CO7 7PQ
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
CHASELET LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
91,644
327,760
Investment properties
4
1,386,000
1,966,000
1,477,644
2,293,760
Current assets
Stocks
-
155,363
Debtors
5
1,665,988
1,069,990
Cash at bank and in hand
1,152
2,181
1,667,140
1,227,534
Creditors: amounts falling due within one year
6
(72,810)
(68,900)
Net current assets
1,594,330
1,158,634
Total assets less current liabilities
3,071,974
3,452,394
Creditors: amounts falling due after more than one year
7
-
0
(9,716)
Net assets
3,071,974
3,442,678
Capital and reserves
Called up share capital
8
24,266
24,266
Other reserves
15,000
15,000
Profit and loss reserves
3,032,708
3,403,412
Total equity
3,071,974
3,442,678
CHASELET LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -

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

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 15 October 2025 and are signed on its behalf by:
Miss L Chase-Gardener
Director
Company Registration No. 00426720
The notes on pages 4 to 9 form part of these financial statements
CHASELET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

Chaselet Limited is a private company limited by shares incorporated in England and Wales. The registered office is Redbury Farm, Colchester Road, Ardleigh, Colchester, Essex, CO7 7PQ.

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 the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised in the accounting period to which it relates.

Other operating income represents rental and service income receivable in the accounting period.

1.3
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:

Freehold land and buildings
Leasehold improvements
5% straight line
Plant and equipment
15% reducing balance
Computers
33% reducing balance
Motor vehicles
25% reducing balance
CHASELET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -

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.

1.4
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. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Growing crops are initially recognised at cost and then amortised over their useful economic life.

1.6
Cash at bank and in hand

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.

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.

1.7
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.

CHASELET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

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.

CHASELET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
2
Employees

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

2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
221,293
246,967
468,260
Additions
-
0
3,502
3,502
Disposals
(221,293)
-
0
(221,293)
At 31 March 2025
-
0
250,469
250,469
Depreciation and impairment
At 1 April 2024
7,228
133,272
140,500
Depreciation charged in the year
-
0
25,553
25,553
Eliminated in respect of disposals
(7,228)
-
0
(7,228)
At 31 March 2025
-
0
158,825
158,825
Carrying amount
At 31 March 2025
-
0
91,644
91,644
At 31 March 2024
214,065
113,695
327,760
4
Investment property
2025
£
Fair value
At 1 April 2024
1,966,000
Disposals
(580,000)
At 31 March 2025
1,386,000
CHASELET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4
Investment property
(Continued)
- 8 -

Investment property is held at fair value, which equates to open market value. Property values are estimated by the director, based on her experience and with reference to recent actual market values of similar properties and any other relevant information.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
14,460
26,530
Amounts owed by group undertakings
451,991
26,818
Other debtors
1,199,537
1,016,642
1,665,988
1,069,990
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
17,315
4,194
Taxation and social security
8,336
12,013
Other creditors
47,159
52,693
72,810
68,900

Other creditors include hire purchase liabilities of £9,716 (202 4: £11,647) which are secured against the assets to which they relate.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
-
0
9,716
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
24,266
24,266
24,266
24,266
CHASELET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
9
Related party transactions

Amounts owed by the directors and shareholders at the balance sheet date were £728,124 (202 4: £800,090).

At the balance sheet date, the company was owed £4 2 0,62 1 (202 4: £2,628) by Whitton Park Estates Limited, a company controlled by Miss L Chase-Gardener.

At the balance sheet date, the company was owed £31,370 (202 4: £24,190) by Whitton Holdings Limited, a company controlled by Miss L Chase-Gardener.

At the balance sheet date, the company was owed £2 64,240 (202 4: £nil) by Salary Brook Vineyard Limited, a company controlled by Miss L Chase-Gardener.

10
Parent company

The company is a subsidiary of Whitton Park Estates Limited, a company which is incorporated in England & Wales.

T he address of Whitton Park Estates Limited is Redbury Farm, Colchester Road, Ardleigh, Colchester, Essex, CO7 7PQ.

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