Company Registration No. 02302908 (England and Wales)
Charford Properties Limited
Unaudited financial statements
for the year ended 31 March 2025
Charford Properties Limited
Statement of financial position
as at 31 March 2025
Tangible assets
33,686
34,338
Investment property
11,569,091
10,908,958
Cash at bank and in hand
58,499
48,890
Creditors: amounts falling due within one year
(222,781)
(157,235)
Net current liabilities
(136,694)
(70,895)
Total assets less current liabilities
11,466,083
10,872,401
Provisions for liabilities
Deferred tax
(2,384,768)
(2,249,661)
Net assets
9,081,315
8,622,740
Called up share capital
10,000
10,000
Fair value reserve
7,856,093
7,472,691
Profit and loss account
1,215,222
1,140,049
Shareholders' funds
9,081,315
8,622,740
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by
Mr N K G Jennings
Director
Company Registration No. 02302908
Charford Properties Limited
Notes to the Accounts
for the year ended 31 March 2025
Charford Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 02302908. The registered office is 3 The Limes, Woodfalls Farm, Slab Lane, Salisbury, Wiltshire, SP5 2NE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises income from land and property letting in the United Kingdom.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% reducing balance
Fixtures & fittings
Straight line over 5 years
Computer equipment
Straight line over 5 years
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Charford Properties Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
55,287
2,015
2,227
59,529
Additions
37,118
-
1,546
38,664
Disposals
(55,287)
-
(1,795)
(57,082)
At 31 March 2025
37,118
2,015
1,978
41,111
At 1 April 2024
21,083
2,015
2,093
25,191
Charge for the year
4,949
-
163
5,112
On disposals
(21,083)
-
(1,795)
(22,878)
At 31 March 2025
4,949
2,015
461
7,425
At 31 March 2025
32,169
-
1,517
33,686
At 31 March 2024
34,204
-
134
34,338
Fair value at 1 April 2024
10,908,958
Net gain from fair value adjustments
511,051
At 31 March 2025
11,569,091
The fair value of the investment property has been arrived at on the basis of a valuation carried out on a connected company's property portfolio in October 2021 by Savills (UK) Chartered Surveyors, who are not connected to the company, and a subsequent uplift by the directors' in 2025 based on their experience and knowledge of the market.
Amounts falling due within one year
Trade debtors
19,530
18,029
Accrued income and prepayments
8,058
9,421
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
34,293
29,630
Taxes and social security
49,852
48,300
Other creditors
81,636
79,305
Loans from directors
57,000
-
Charford Properties Limited
Notes to the Accounts
for the year ended 31 March 2025
8
Deferred taxation
2025
2024
Accelerated capital allowances
8,422
964
Revaluation of investment property
2,376,346
2,248,697
Provision at start of year
2,249,661
2,021,942
Charged to the profit and loss account
135,107
227,719
Provision at end of year
2,384,768
2,249,661
9
Average number of employees
During the year the average number of employees was 2 (2024: 2).