Chairborough Developments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12853658 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

CHAIRBOROUGH DEVELOPMENTS LIMITED

Page

Company Information

1

Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTORS:

Mr R J Hearn

Mr P J Hearn

Mr D S Hearn

REGISTERED OFFICE:

St Georges Works, Coronation Road

Cressex Business Park

High Wycombe

Buckinghamshire

HP12 3GG

REGISTERED NUMBER:

12853658 (England and Wales)

ACCOUNTANTS:

Seymour Taylor Limited

First Floor North

40 Oxford Road

High Wycombe

Buckinghamshire

HP11 2EE

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chairborough Developments Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Chairborough Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chairborough Developments Limited and state those matters that we have agreed to state to the Board of Directors of Chairborough Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chairborough Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chairborough Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Chairborough Developments Limited. You consider that Chairborough Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chairborough Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Seymour Taylor Limited

First Floor North

40 Oxford Road

High Wycombe

Buckinghamshire

HP11 2EE

4 December 2025

FIXED ASSETS

Tangible assets

4

41,753

5,875

Investment property

5

3,086,074

3,127,827

3,091,949

CURRENT ASSETS

Debtors

6

70,720

166,117

Cash at bank

2,003

-

72,723

166,117

CREDITORS

Amounts falling due within one year

7

345,668

269,102

NET CURRENT LIABILITIES

(272,945

)

(102,985

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,854,882

2,988,964

CREDITORS

Amounts falling due after more than one
year

8

(686,705

)

(713,339

)

PROVISIONS FOR LIABILITIES

(10,438

)

-

NET ASSETS

2,157,739

2,275,625

CAPITAL AND RESERVES

Called up share capital

10

2,235,394

Retained earnings

(77,655

)

40,231

SHAREHOLDERS' FUNDS

2,157,739

2,275,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

Mr P J Hearn - Director

1.	STATUTORY INFORMATION

Chairborough Developments Ltd is a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is St. George's Works, Coronation Road, Cressex Business Park, High Wycombe, Buckinghamshire, United Kingdom, HP12 3GG. The registered number is 12853658.

The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

The financial statements have been prepared on the going concern basis. Although at the statement of financial position date the company had net current liabilities of £272,945 (2023: £102,985), the total net assets were £2,157,739 (2023: £2,275,625). As the total net assets position is backed by capital investment in property, the directors believe it is appropriate for the financial statements to be prepared on this basis. The company is able to rely on the support of its shareholders, if needed.

Turnover

Turnover represents the amount of rental income and recharged expenses accruing during the year, exclusive of Value Added Tax.

Other income

Dilapidations income is measured at the fair value of consideration received or receivable net of value added tax.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

The company assesses at each reporting date whether tangible fixed assets are impaired.

Depreciation

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimate useful life:

Asset class

Depreciation method and rate

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 25% on cost

Computer equipment

- Straight line over 3 years

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits.

Investment property

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both.

Investment properties are measured at cost upon initial recognition. The initial cost of the property comprises of its purchase price and any directly attributable expenditure.

Subsequently, investment property is measured at fair value at each reporting date with changes in fair value recognised in profit or loss in the period that they arise. No depreciation is provided in respect of investment properties applying the fair value model.

Financial instruments

The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to its financial statements.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the income statement except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the statement of financial position date, and any adjustment to tax payable in respect of previous years.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the statement of financial position date. Deferred tax balances are not discounted.

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.

Leasing incentives

The company from time to time provides incentives to enter into new lease agreements. These incentives may take the form of an initial period of the lease being rent free or at a reduced rent. In accordance with the standard accounting treatment for lease incentives, the rent free period or reduction in rent is allocated on a straight line basis over the full lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

COST

At 1 October 2023

7,835

-

7,835

Additions

30,000

10,930

598

41,528

At 30 September 2024

37,835

10,930

598

49,363

DEPRECIATION

At 1 October 2023

1,960

-

1,960

Charge for year

2,718

2,733

199

5,650

At 30 September 2024

4,678

2,733

199

7,610

NET BOOK VALUE

At 30 September 2024

33,157

8,197

399

41,753

At 30 September 2023

5,875

-

5,875

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

and 30 September 2024

3,086,074

NET BOOK VALUE

At 30 September 2024

3,086,074

At 30 September 2023

3,086,074

The investment properties are carried at their fair values, which have been determined by the directors on an open market valuation basis.

In respect of the investment properties stated valuations, the comparable historical cost values are as follows:

2024

2023

£

Historical cost

3,086,074

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

4,104

16,556

Other debtors

66,616

149,561

70,720

166,117

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

27,152

49,345

Trade creditors

13,539

18,285

Taxation and social security

2,594

1,549

Other creditors

302,383

199,923

345,668

269,102

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

686,705

713,339

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

713,857

739,918

Bank loans are secured by a fixed and floating charge over the company's assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

75

"A" Ordinary

£0.33

25

2,235,369

Ordinary

£1

2,235,369

2,235,394