REGISTERED NUMBER: 07067232 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Steve Chadwick Residential Lettings

Limited

T/A

Martin & Co (Hinckley)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S A Chadwick

REGISTERED OFFICE:

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

REGISTERED NUMBER:

07067232 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Intangible assets

4

89,674

97,573

Tangible assets

5

61,831

63,074

151,505

160,647

CURRENT ASSETS

Debtors

6

36,364

37,104

Cash at bank

7,440

-

43,804

37,104

CREDITORS

Amounts falling due within one year

7

(144,489

)

(166,096

)

NET CURRENT LIABILITIES

(100,685

)

(128,992

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,820

31,655

CREDITORS

Amounts falling due after more than one year

8

-

(11,072

)

PROVISIONS FOR LIABILITIES

(5,028

)

(5,339

)

NET ASSETS

45,792

15,244

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

12,209

12,209

Retained earnings

33,483

2,935

SHAREHOLDERS' FUNDS

45,792

15,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 August 2025 and were signed by:

S A Chadwick - Director

1.	STATUTORY INFORMATION

Steve Chadwick Residential Lettings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Going Concern

The financial statements have been prepared on the going concern basis which assumes the company will continue to trade. This depends on the ability of the director to maintain the necessary financial support.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amounts paid in connection with the acquisition of several businesses in 2012, 2015 and 2018 are being amortised evenly over its estimated useful life of 20 years.

Tangible fixed assets

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

Improvements to property

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

The value of the Long leasehold asset is assessed annually and carried at fair value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Fixed asset investments

Fixed asset investments are measured at market value, any aggregate surplus or deficit arising from changes in market value are included in the profit and loss account for the period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

Goodwill

fee

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

252,171

18,500

270,671

AMORTISATION

At 1 April 2024

154,598

18,500

173,098

Amortisation for year

7,899

-

7,899

At 31 March 2025

162,497

18,500

180,997

NET BOOK VALUE

At 31 March 2025

89,674

-

89,674

At 31 March 2024

97,573

-

97,573

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Long

to

and

Computer

leasehold

property

fittings

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

58,000

13,484

21,880

5,806

99,170

DEPRECIATION

At 1 April 2024

-

10,691

19,802

5,603

36,096

Charge for year

-

559

520

164

1,243

At 31 March 2025

-

11,250

20,322

5,767

37,339

NET BOOK VALUE

At 31 March 2025

58,000

2,234

1,558

39

61,831

At 31 March 2024

58,000

2,793

2,078

203

63,074

The director, a qualified surveyor, has valued the Long leasehold asset at 31 March 2025 on an open market value basis.

Cost or valuation at 31 March 2025 is represented by:

Improvements

Fixtures

Long

to

and

Computer

leasehold

property

fittings

equipment

Totals

£

£

£

£

£

Valuation in 2017

28,228

-

-

-

28,228

Valuation in 2021

5,050

-

-

-

5,050

Valuation in 2024

(17,000

)

-

-

-

(17,000

)

Cost

41,722

13,484

21,880

5,806

82,892

58,000

13,484

21,880

5,806

99,170

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

5,160

120

Other debtors

31,204

36,984

36,364

37,104

Other debtors includes prepayments and accrued income of £1,827 (2024: £3,530).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

30,212

Trade creditors

5,393

7,486

Taxation and social security

59,276

27,903

Other creditors

79,820

100,495

144,489

166,096

Other creditors includes accruals and deferred income of £7,161 (2024: £7,831).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

-

10,517

Other creditors

-

555

-

11,072

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank overdraft

-

19,976

The bank overdraft is secured against the assets of the company.