REGISTERED NUMBER: 05198871 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

CHY-AN-EGLOS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D S Eddy

Mrs M I Eddy

S D Eddy

SECRETARY:

D S Eddy

REGISTERED OFFICE:

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

REGISTERED NUMBER:

05198871 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Tangible assets

4

3,223,703

3,228,274

CURRENT ASSETS

Debtors

5

2,038

2,795

Cash at bank

2,654

7,122

4,692

9,917

CREDITORS

Amounts falling due within one year

6

368,697

363,017

NET CURRENT LIABILITIES

(364,005

)

(353,100

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,859,698

2,875,174

CREDITORS

Amounts falling due after more than one year

7

(206,043

)

(240,821

)

PROVISIONS FOR LIABILITIES

(726,017

)

(727,159

)

NET ASSETS

1,927,638

1,907,194

CAPITAL AND RESERVES

Called up share capital

71

71

Retained earnings

1,927,567

1,907,123

SHAREHOLDERS' FUNDS

1,927,638

1,907,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 29 April 2026 and were signed on its behalf by:

D S Eddy - Director

1.	STATUTORY INFORMATION

Chy-an-eglos Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover

Turnover represents rents from long term furnished letting and furnished holiday lets along with related utility charges receivable from tenants.

Tangible fixed assets

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

Freehold investment property

-

not provided

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

Straight line over 3 years

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Non depreciation of freehold investment property

No depreciation has been charged in respect of the company's freehold investment property. Although this represents a departure from the requirements of the Companies Act 2006, the property has not been depreciated on the grounds that, in the opinion of the directors, with the long term rise in property prices generally, the residual value is likely to at least equate to its historic cost, and any charge for depreciation would therefore be negligible. In the opinion of the directors, the accounting treatment does not therefore depart from the requirement of the accounts to show a true and fair view. The directors also believe that the current open market value of the investment property approximates to the value at which it is stated in the accounts, and that any further revaluation at the balance sheet date would be negligible.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Fixtures

investment

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 September 2024

and 31 August 2025

3,201,010

185,009

6,931

3,392,950

DEPRECIATION

At 1 September 2024

-

158,314

6,362

164,676

Charge for year

-

4,002

569

4,571

At 31 August 2025

-

162,316

6,931

169,247

NET BOOK VALUE

At 31 August 2025

3,201,010

22,693

-

3,223,703

At 31 August 2024

3,201,010

26,695

569

3,228,274

The company's freehold investment property at Chy-an-Eglos Apartments, St Ives is subject to a first legal charge as security for the company's bank loan with Lloyds Bank plc.

Cost or valuation at 31 August 2025 is represented by:

Freehold

Fixtures

investment

and

Computer

property

fittings

equipment

Totals

£

£

£

£

Valuation in 2004

1,208,000

15,515

779

1,224,294

Valuation in 2017

193,219

-

-

193,219

Valuation in 2019

1,268,250

-

-

1,268,250

Valuation in 2023

291,010

-

-

291,010

Cost

240,531

169,494

6,152

416,177

3,201,010

185,009

6,931

3,392,950

If freehold investment property had not been revalued it would have been included at the following historical cost:

31.8.25

31.8.24

£

£

Cost

240,531

240,531

Freehold investment property was valued on an current market basis on 31 August 2023 by the Directors .

The original freehold property valuation carried out by Vickery Holman was based on the Land Registry valuation as at 1 September 2004. Fixtures and fittings and computer equipment introduced at that date were valued by the directors according to the tax written down value of the respective assets.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

2,038

2,795

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans and overdrafts

79,102

77,013

Trade creditors

-

1,156

Other creditors

279,548

277,671

Directors' current accounts

2,879

2,879

Accruals & deferred income

7,168

4,298

368,697

363,017

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans - 1-2 years

63,868

67,277

Bank loans - 3-5 years

120,005

130,950

Bank loan >5yrs by instalments

22,170

42,594

206,043

240,821

Amounts falling due in more than five years:

Repayable by instalments

Bank loan >5yrs by instalments

22,170

42,594

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

£

Bank loans

285,145

317,834

The NLGS bank loan is repayable by instalments over 20 years. It is secured by way of a first legal charge over the company's freehold property at Chy-an-Eglos Apartments, St Ives and by way of an unlimited debenture from Chy-an-Eglos Limited.

The Bounce Back Loan is repayable by installments over a 6 year period.

9.	RELATED PARTY DISCLOSURES

Other creditors at 31 August 2025 includes £225,000 (2024 - £225,000) owing to Capfern Limited, a company registered in England & Wales, in which Mr & Mrs D S Eddy are both directors and shareholders. Interest charged during the year on the loan was £15,862 (2024 - £18,238).