CHASE (WHITEHAVEN) LIMITED


Directors	PROCTOR, Brian Robert
	PROCTOR, Nadtaphat


Registered Address	The Chase Hotel, Inkerman
	Terrace, Whitehaven
	Cumbria
	CA28 8AA


Registered Number	04704078 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		-		802,106
			-		802,106
Current assets
Stocks	5	-		5,867
Debtors	6	30,180		4,975
Cash at bank and on hand		-		33,263
		30,180		44,105
Creditors amounts falling due within one year	7	(30,073)		(496,887)
Net current assets (liabilities)			107		(452,782)
Total assets less current liabilities			107		349,324
Creditors amounts falling due after one year			-		(13,354)
Provisions for liabilities	8		-		(24,261)
Net assets			107		311,709
Capital and reserves
Called up share capital			100		100
Revaluation reserve			-		162,299
Profit and loss account			7		149,310
Shareholders' funds			107		311,709

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 28 November 2025, and are signed on its behalf by:

PROCTOR, Brian Robert
Director
Registered Company No. 04704078

CHASE (WHITEHAVEN) LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rendering of services. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

2.	Average number of employees


		2025		2024
	Average number of employees during the year	17		19

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	31,600	31,600
Disposals	(31,600)	(31,600)
Amortisation and impairment
At 01 April 24	31,600	31,600
On disposals	(31,600)	(31,600)
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 April 24	750,000	176,518	926,518
Disposals	(750,000)	(176,518)	(926,518)
Depreciation and impairment
At 01 April 24	-	124,412	124,412
On disposals	-	(124,412)	(124,412)
Net book value
At 31 March 25	-	-	-
At 31 March 24	750,000	52,106	802,106

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	-	5,867
Total	-	5,867

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	30,180	-
Prepayments and accrued income	-	4,975
Total	30,180	4,975

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	-	18,030
Bank borrowings and overdrafts	-	42,834
Taxation and social security	24,553	20,936
Other creditors	5,520	415,087
Total	30,073	496,887


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The bank loan is secured via a legal charge over the freehold property of the company.

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	-	24,261
Total	-	24,261

9.	Pension commitments
	The pension cost charge represents contributions payable by the company to the fund and amounted to £4,308 (2024 - £4,205).