Chislet Properties Limited

Financial Statements for the Year Ended 31 October 2025

DIRECTORS:

J M Perry

E Perry

SECRETARY:

E Perry

REGISTERED OFFICE:

Castle View

Cwm Drive

Dinas Powys

South Glamorgan

CF64 4HL

REGISTERED NUMBER:

05976999 (England and Wales)

ACCOUNTANTS:

BPU Limited

Chartered Accountants

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

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 Chislet Properties Limited for the year ended 31 October 2025 which comprise the Profit and Loss Account, Balance Sheet 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Chislet Properties 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 Chislet Properties Limited and state those matters that we have agreed to state to the Board of Directors of Chislet Properties Limited, as a body, in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chislet Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chislet Properties 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 profit of Chislet Properties Limited. You consider that Chislet Properties 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 Chislet Properties 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.

BPU Limited

Chartered Accountants

20 July 2026

FIXED ASSETS

Tangible assets

3

602

752

Investment property

4

2,913,977

2,914,579

2,914,729

CURRENT ASSETS

Debtors

5

1,789

1,648

Cash at bank and in hand

127,360

77,079

129,149

78,727

CREDITORS

Amounts falling due within one year

6

511,966

479,930

NET CURRENT LIABILITIES

(382,817

)

(401,203

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,531,762

2,513,526

CREDITORS

Amounts falling due after more than
one year

7

(713,444

)

(812,938

)

PROVISIONS FOR DEFERRED TAX

(119,500

)

(119,100

)

NET ASSETS

1,698,818

1,581,488

CAPITAL AND RESERVES

Called up share capital

2

Non distributable reserve

566,961

Retained earnings

1,131,855

1,014,525

1,698,818

1,581,488

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2026 and were signed on its behalf by:

E Perry - Director

1.	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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

20% reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 November 2024

and 31 October 2025

2,133

DEPRECIATION

At 1 November 2024

1,381

Charge for year

150

At 31 October 2025

1,531

NET BOOK VALUE

At 31 October 2025

602

At 31 October 2024

752

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2024

and 31 October 2025

2,913,977

NET BOOK VALUE

At 31 October 2025

2,913,977

At 31 October 2024

2,913,977

Fair value at 31 October 2025 is represented by:

£

Valuation in 2019

135,438

Valuation in 2020

431,562

Valuation in 2022

(28,639

)

Valuation in 2024

150,000

Cost

2,225,616

2,913,977

Investment property was revalued on an open market basis at 31/10/2024 by the directors with the assistance of their professional advisors. Their values are still deemed to be accurate.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors & prepayments

1,789

1,648

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

85,310

70,510

Taxes & social security costs

42,357

33,013

Other creditors & accruals

384,299

376,407

511,966

479,930

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2025

2024

£

Bank loans

713,444

812,938

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

798,754

883,448

The bank loans are in the form of a mortgage and are secured over the properties to which they relate.