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Registered number: 11777496
CHAIT INVESTMENT CORPORATION LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
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CHAIT INVESTMENT CORPORATION LIMITED
REGISTERED NUMBER: 11777496
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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CHAIT INVESTMENT CORPORATION LIMITED
REGISTERED NUMBER: 11777496
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 December 2025.
The notes on pages 3 to 7 form part of these financial statements.
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CHAIT INVESTMENT CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Chait Investment Corporation Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 124 Finchley Road, London, England, NW3 5JS and the address of its principal place of business is New Maxdov House, 130 Bury New Road, Prestwich, Manchester, England, M25 0AA.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
At the end of the year the company had net current liabilities. The company is reliant upon the continuing financial support of its parent company and its bank who are the major creditors. The directors have taken steps to ensure that the company has adequate financial resources so that it can meet its liabilities as they fall due and accordingly these financial statements are prepared on the basis that the company will continue to be a going concern.
The company's functional and presentational currency is GBP.
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Operating leases: the Company as lessor
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Rental income from operating leases is credited to the Statement of Comprehensive Income on a straight-line basis over the individual lease terms.
All borrowing costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.
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CHAIT INVESTMENT CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Defined contribution pension plan
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 payment obligations.
The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts unpaid at the year end are shown in other creditors in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Investment property is carried at fair value determined by external professional valuers and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.
Investments in subsidiaries are measured at cost less accumulated impairment.
Debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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CHAIT INVESTMENT CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
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Investments in subsidiary companies
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Freehold investment property
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The 2025 valuations were made by the directors, on an open market value for existing use basis.
The freehold properties were last professionally valued in 1 December 2023 and this valuation has been reflected in these financial statements.
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CHAIT INVESTMENT CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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CHAIT INVESTMENT CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Creditors: Amounts falling due after more than one year
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The following liabilities were secured:
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Details of security provided:
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The bank loan is secured on the company's investment properties. The bank also has a fixed and floating charge over the company's assets.
The loan has a current expiry date of 1 June 2027
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,925 (2024: £1,946).
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Related party transactions
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At the reporting date the amount of £41,711,214 (2024: £42,781,036) was owed to the immediate parent undertaking. The loan is interest free.
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Chait Investment Corporation Limited, a company registered in Malta, is the immediate parent undertaking of the company. Alphen Trust Company AG, a company registered in Switzerland as trustee to the Chait Family A Trust, is the ultimate parent undertaking.
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