Company Registration No. 12544678 (England and Wales)
Chatsworth Homes Wisbech Limited
Unaudited accounts
for the year ended 29 April 2025
Chatsworth Homes Wisbech Limited
Unaudited accounts
Contents
Chatsworth Homes Wisbech Limited
Company Information
for the year ended 29 April 2025
Director
Claire Anne Louise Bull
Company Number
12544678 (England and Wales)
Registered Office
Gaywood Hall
Gaywood Hall Drive
Gaywood
King's Lynn
Norfolk
PE30 4EE
England
Accountants
Amjid Majid
Accountability Cardiff Ltd
34 The Parade
Cardiff
Wales
CF24 3AD
Chatsworth Homes Wisbech Limited
Statement of financial position
as at 29 April 2025
Tangible assets
2,755
4,207
Inventories
18,193,754
15,712,996
Cash at bank and in hand
75,267
6,278
Creditors: amounts falling due within one year
(2,272,596)
(7,484,432)
Net current assets
16,098,734
8,559,272
Total assets less current liabilities
16,101,489
8,563,479
Creditors: amounts falling due after more than one year
(20,642,642)
(12,338,542)
Provisions for liabilities
Deferred tax
(1,052)
(1,052)
Net liabilities
(4,542,205)
(3,776,115)
Called up share capital
300
300
Profit and loss account
(4,542,505)
(3,776,415)
Shareholders' funds
(4,542,205)
(3,776,115)
For the year ending 29 April 2025 the company was entitled to exemption from audit 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 June 2026 and were signed on its behalf by
Claire Anne Louise Bull
Director
Company Registration No. 12544678
Chatsworth Homes Wisbech Limited
Notes to the Accounts
for the year ended 29 April 2025
Chatsworth Homes Wisbech Limited is a private company, limited by shares, registered in England and Wales, registration number 12544678. The registered office is Gaywood Hall, Gaywood Hall Drive, Gaywood, King's Lynn, Norfolk, PE30 4EE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
Chatsworth Homes Wisbech Limited is a private company limited by shares, registered in England and Wales.
The principal activity of the company during the year remained the development of residential housing.
The financial statements have been prepared on the historical cost basis, except where a different treatment is set out in the accounting policies. They have been prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, together with the requirements of the Companies Act 2006. The company has applied the disclosure exemptions and reduced disclosure framework available to small entities under Section 1A of FRS 102, except where further information is considered necessary to give a true and fair view.
The financial statements are presented in pounds sterling, which is the company’s functional currency. Amounts are rounded to the nearest pound.
The principal accounting policies adopted in preparing these financial statements are set out below.
The directors have reviewed the appropriateness of preparing the financial statements on a going concern basis. Having considered the company’s expected future trading position and the continuing financial support available from the director, the directors are satisfied that the company will have adequate resources to meet its liabilities as they fall due for at least twelve months from the date these financial statements are approved. Accordingly, the financial statements have been prepared on a going concern basis.
Revenue is recognised when it is probable that the company will obtain the economic benefits from the transaction and the amount can be measured reliably. Revenue is stated at the fair value of the consideration received or receivable, after deducting any discounts, rebates, VAT and other sales taxes.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are recognised in the profit and loss account over the period of the related borrowing. They are calculated using the effective interest method, so that the charge reflects a consistent rate on the outstanding carrying value of the liability. Any costs incurred in raising finance are deducted from the initial proceeds of the related financial liability and recognised over the term of the borrowing
Chatsworth Homes Wisbech Limited
Notes to the Accounts
for the year ended 29 April 2025
Defined contribution pension scheme
The company operates a defined contribution pension scheme for its employees. Under this type of arrangement, the company pays fixed contributions into a separately administered pension scheme and has no further obligation once those contributions have been made.
Pension contributions are charged to the profit and loss account in the period in which they become payable. Any unpaid contributions at the year end are included within accruals or other creditors in the balance sheet. The scheme assets are held separately from those of the company in independently managed funds.
Current & Deferred taxation
Taxation
The tax charge for the period includes both current tax and deferred tax. Tax is generally recognised in the profit and loss account, except where it relates to items recognised in other comprehensive income or directly in equity, in which case the related tax is also recognised in other comprehensive income or equity as appropriate.
Current corporation tax is calculated using the tax rates and legislation that have been enacted or substantively enacted at the balance sheet date, based on the company’s taxable profits for the period.
Deferred tax is recognised on timing differences that have arisen but have not reversed by the balance sheet date. Deferred tax assets are recognised only where it is probable that they will be recovered through the reversal of deferred tax liabilities or through future taxable profits. Deferred tax balances are released when the conditions giving rise to the related tax allowances have been satisfied.
Deferred tax is not recognised on permanent differences, except where it arises as part of a business combination. Where applicable, deferred tax is measured using the tax rates and laws enacted or substantively enacted by the balance sheet date and expected to apply when the timing differences reverse.
The accounts are presented in £ sterling.
Tangible fixed assets are measured using the cost model and are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes directly attributable expenditure required to bring the asset to the location and condition necessary for it to be used in the manner intended by management.
Depreciation is charged so as to write off the cost of each asset, after taking account of any estimated residual value, over its expected useful life. Depreciation is provided on the following basis:
Plant and machinery — 20% straight line
Office equipment — 20% straight line
The residual values, useful lives and depreciation methods of assets are reviewed at each reporting date and amended prospectively where appropriate, including where there has been a significant change in circumstances since the previous reporting date.
Any gain or loss arising on disposal is calculated by comparing the disposal proceeds with the carrying amount of the asset and is recognised in the profit and loss account.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Chatsworth Homes Wisbech Limited
Notes to the Accounts
for the year ended 29 April 2025
Work in progress is carried at the lower of cost and net realisable value. Net realisable value represents the estimated selling price, less the estimated costs required to complete and sell the development.
At each reporting date, work in progress is reviewed for impairment. Where the carrying value exceeds its recoverable amount, it is written down to net realisable value. Any impairment arising is charged to the profit and loss account immediately.
Short-term debtors are measured at their transaction price, less any provision for impairment where recovery is considered doubtful.
Cash comprises cash in hand and balances held with financial institutions that are repayable on demand or within 24 hours without penalty. Cash equivalents are short-term, highly liquid investments with original maturities of three months or less, which are readily convertible into known amounts of cash and are subject to an insignificant risk of changes in value.
Short-term creditors are initially recognised at the transaction price. Other financial liabilities, including bank loans and other borrowings, are initially measured at fair value after deducting any directly attributable transaction costs. They are subsequently measured at amortised cost using the effective interest method.
Provisions for Liabilities
Provisions are recognised where the company has a present legal or constructive obligation as a result of a past event, it is probable that settlement will require an outflow of economic resources, and the amount of the obligation can be estimated reliably.
Provisions are measured at the directors’ best estimate of the expenditure required to settle the obligation, after taking into account the risks and uncertainties relating to the matter.
Any increase in a provision is normally recognised as an expense in the profit and loss account.
The company enters into basic financial instrument transactions, which give rise to financial assets and financial liabilities such as trade and other debtors, trade and other creditors, bank and third-party loans, related party loans and investments in ordinary shares.
Financial assets measured at cost or amortised cost are reviewed at each reporting date for evidence of impairment. Where there is objective evidence that an asset is impaired, the impairment loss is recognised in the profit and loss account.
Chatsworth Homes Wisbech Limited
Notes to the Accounts
for the year ended 29 April 2025
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 30 April 2024
595
6,664
7,259
At 29 April 2025
595
6,664
7,259
At 30 April 2024
-
3,052
3,052
Charge for the year
119
1,333
1,452
At 29 April 2025
119
4,385
4,504
At 29 April 2025
476
2,279
2,755
At 29 April 2024
595
3,612
4,207
Amounts falling due within one year
Accrued income and prepayments
70,860
324,430
6
Creditors: amounts falling due within one year
2025
2024
Trade creditors
733,210
229,176
Amounts owed to group undertakings and other participating interests
24,545
-
Taxes and social security
40,724
52,282
Other creditors
-
7,193,474
7
Creditors: amounts falling due after more than one year
2025
2024
Amounts owed to group undertakings and other participating interests
4,015,267
-
Other creditors
13,687,054
12,338,542
Taxes and social security
632
-
Loans from directors
2,939,689
-
8
Average number of employees
During the year the average number of employees was 3 (2024: 3).