W.J.Channing & Sons (Woking) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00571380

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

W.J.Channing & Sons (Woking) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Castle Directors Limited

JTC Directors Limited

V N Hougardy

SECRETARY:

JTC (Jersey) Limited

REGISTERED OFFICE:

Moore

6th Floor

Whitefriars

Lewins Mead

Bristol

BS1 2NT

REGISTERED NUMBER:

00571380

FIXED ASSETS

Tangible assets

4

6,398,345

5,519,821

CURRENT ASSETS

Stocks

5

530,526

Debtors

6

8,560

32,979

Cash at bank

39,715

334,364

578,801

897,869

CREDITORS

Amounts falling due within one year

7

928,599

268,839

NET CURRENT (LIABILITIES)/ASSETS

(349,798

)

629,030

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,048,547

6,148,851

CAPITAL AND RESERVES

Called up share capital

3

Revaluation reserve

8

2,786,743

Retained earnings

8

3,261,801

3,362,105

SHAREHOLDERS' FUNDS

10

6,048,547

6,148,851

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 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 23 December 2025 and were signed on its behalf by:

V N Hougardy - Director

1.	STATUTORY INFORMATION

W.J.Channing & Sons (Woking) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Fundamental accounting concept

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.

Tangible fixed assets

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

Land and buildings - not provided

Taxation

Taxation 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 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.

Land for development

Land for development is valued at the lower of cost and net realisable value. The directors have considered whether the carrying value of the company's land for development may have declined in value and whether provision should be made in this respect. There is uncertainty regarding both the decline in value in the present market place and the degree to which any decline will be reversed in the foreseeable future. In view of these uncertainties, the directors have decided not to make any provision against the carrying value of the land for development in the accounts.

Investment properties

The investment properties are accounted for in accordance with FRS 102 as follows:

The investment properties has not been revalued in the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2024

5,519,821

Additions

878,524

At 31 March 2025

6,398,345

NET BOOK VALUE

At 31 March 2025

6,398,345

At 31 March 2024

5,519,821

Freehold land and buildings were valued on an open market basis on 31 March 2023 by the directors of the company. The directors have reviewed the valuation of the properties at the year end and do not believe there has been any significant change and therefore no revaluation was necessary.

If the revalued properties were disposed of at their book values there would be a potential tax liability of £278,084. This is based on the current Corporation Tax rate of 25%,

New property Hill Place Farm, Oak Gill, Wood Street Village, Guildford was purchased and completed at £860,174 during the year.

5.

STOCKS

2025

2024

£

Stocks

530,526

Stock represents land for development.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

1,144

26,414

Other debtors

-

935

Amounts owed by group undertakings

3,695

Prepayments

3,721

1,935

8,560

32,979

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Amount owed to fellow subsidiary

906,199

252,006

Accruals and deferred income

22,400

16,833

928,599

268,839

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 April 2024

3,362,105

2,786,743

6,148,848

Deficit for the year

(100,304

)

-

(100,304

)

At 31 March 2025

3,261,801

2,786,743

6,048,544

9.	RELATED PARTY DISCLOSURES

The amounts owing to and from related parties at the balance sheet date were as follows:

2025

2024

£

Amount due from Chansom Limited

3,695

Amount due to Concord Housing Limited

252,006

Amount due to Markfield Investments Ltd

619,193

0

Amount due to Msungu Limited

35,000

0

10.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2025

2024

£

Loss for the financial year

(100,304

)

(118,864

)

Revaluation of properties

Net reduction of shareholders' funds

(100,304

)

(118,864

)

Opening shareholders' funds

6,148,851

6,267,715

Closing shareholders' funds

6,048,547

6,148,851