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Registration number: 02727666

Chicor Limited
Unaudited Filleted Financial Statements
for the Year Ended 28 February 2025

Chicor Limited

Contents

Statement of Financial Position | 1
Notes to the Unaudited Financial Statements | 2 to 5

Chicor Limited

(Registration number: 02727666)
Statement of Financial Position as at 28 February 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 175,000 | 200,000
Current assets |  |  |
Debtors | 5 | 403 | -
Cash at bank and in hand |  | 2,911 | 8,960
|  | 3,314 | 8,960
Creditors: Amounts falling due within one year | 6 | (122,378) | (108,290)
Net current liabilities |  | (119,064) | (99,330)
Net assets |  | 55,936 | 100,670
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | 55,836 | 100,570
Shareholders' funds |  | 55,936 | 100,670

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 21 November 2025

Mr D Peyton Company secretary and director

Chicor Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
47 Boutport Street
Barnstaple
Devon
EX31 1SQ

Principal activity

The principal activity of the company is the letting and management of retail freehold property.

2 | 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 are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Chicor Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

2 | Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Chicor Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4 | Tangible assets

| Land and buildings £ | Total £
Cost or valuation
At 1 March 2024 | 200,000 | 200,000
Revaluations | (25,000) | (25,000)
At 28 February 2025 | 175,000 | 175,000
Depreciation
Carrying amount
At 28 February 2025 | 175,000 | 175,000
At 29 February 2024 | 200,000 | 200,000

Included within the net book value of land and buildings above is £175,000 (2024 - £200,000) in respect of freehold land and buildings.

Investment Property

In 2022, the freehold property held as property, plant and equipment was re-classified as investment property due to a change in nature of its use. The property was subsequently revalued in accordance with FRS102.
No deferred tax has been recognised on the fair value loss, as no taxable profits will be available to utilise the associated tax deduction.
The company has employed the services of an independent valuer holding relevant professional qualifications and who has recent experience in the location and class of property held to provide an accurate fair value at the balance sheet date.

5 | Debtors

| 2025 £ | 2024 £
Prepayments | 403 | -
| 403 | -

Chicor Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Taxation and social security | 2,039 | 2,156
Accruals and deferred income | 1,090 | 1,090
Other creditors | 119,249 | 105,044
| 122,378 | 108,290

7 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

8 | Related party transactions

Transactions with the director

2025 | At 1 March 2024 £ | Advances to director £ | Repayments by director £ | At 28 February 2025 £
| (104,083) | (18,696) | 3,530 | (119,249)

2024 | At 1 March 2023 £ | Advances to director £ | Repayments by director £ | At 29 February 2024 £
| (110,392) | (9,741) | 16,050 | (104,083)