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Registered number: 08039783
CHASESTEAD GROUP LIMITED
AUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2025
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CHASESTEAD GROUP LIMITED
REGISTERED NUMBER: 08039783
BALANCE SHEET
AS AT 31 AUGUST 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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Provisions for liabilities
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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 Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies' regime.
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CHASESTEAD GROUP LIMITED
REGISTERED NUMBER: 08039783
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 14 form part of these financial statements.
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Chasestead Group Limited (the 'Company') is a private company, limited by shares and incorporated in England and Wales.
The Company's registered office and principal place of business is Icknield Way, Letchworth Garden City, SG6 1JX. The Company's registered number is 08039783.
The principal activity of the Company during the current and prior year was that of a holding company and provider of directors' services to its subsidiaries.
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 is a parent undertaking of a small group and is exempt from the requirement to prepare group accounts under section 399 of the Companies Act 2006. These financial statements present information about the Company as an individual undertaking and not about its group.
The Directors have considered the Company's financial position, cash flows, budgets and forecasts and have assessed the Company's ability to continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.
At the reporting date, the Company had net assets of £158,992 (2024 - £441,238), which included net current liabilities of £676,662 (2024 - £65,737). The Directors have considered the Company's liquidity position, the timing and nature of amounts falling due within one year, expected future cash flows and available sources of finance.
Having considered these matters, the Directors are satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Directors consider it appropriate to prepare the financial statements on a going concern basis.
Turnover comprises turnover recognised by the Company in respect of management charges supplied during the year, exclusive of Value Added Tax and trade discounts.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentation currency is GBP and monetary amounts included in these financial statements are rounded to the nearest pound (£).
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Foreign currency translation (continued)
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Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.
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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 balance sheet 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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the below basis.
Depreciation is provided on the following basis:
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25% reducing balance per annum
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17.5% straight line per annum
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20% straight line per annum
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50% reducing balance per annum
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Leasehold property improvements
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10% reducing balance per annum
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
The Company has granted security to Lloyds Bank Commercial Finance Limited in connection with the invoice discounting facility operated by its subsidiary, Chasestead Limited. The security is registered at Companies House as a fixed charge.
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The average monthly number of employees, including Directors, during the year was 2 (2024 - 2).
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Leasehold property improvements
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At 1 September 2024 (unaudited)
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At 1 September 2024 (unaudited)
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At 31 August 2024 (unaudited)
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Investments in subsidiary companies
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At 1 September 2024 (unaudited)
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At 31 August 2024 (unaudited)
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The following were subsidiary undertakings of the Company:
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Icknield Way, Letchworth Garden City, SG6 1JX
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Icknield Way, Letchworth Garden City, SG6 1JX
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Debtors: amounts falling due within one year
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Amounts owed by group undertakings
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Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
Certain comparative amounts have been reclassified to conform with the current year presentation. £481,157 (2024 - £481,157) included within amounts owed to group undertakings have been reclassified to be presented within amounts owed by group undertakings due to the nature of these balances. These reclassifications have no impact on previously reported profits or net assets.
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Cash and cash equivalents
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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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Obligations under finance lease and hire purchase contracts (note 10)
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
Certain comparative amounts have been reclassified to conform with the current year presentation. £481,157 (2024 - £481,157) included within amounts owed to group undertakings have been reclassified to be presented within amounts owed by group undertakings due to the nature of these balances. These reclassifications have no impact on previously reported profits or net assets.
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Creditors: amounts falling due after more than one year
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Obligations under finance leases and hire purchase contracts (note 10)
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Hire purchase and finance leases
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Minimum lease payments under hire purchase fall due as follows:
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The hire purchase agreement is secured by a fixed and floating charge over the assets of the Company and bears interest at 3.54% per annum.
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At beginning of year (unaudited) (as restated) (note 14)
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Credited to profit or loss
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The provision for deferred taxation is made up as follows:
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Fixed asset timing differences
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Short term timing differences
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Losses and other deductions
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Allotted, called up and fully paid
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130 (2024 - 130) Ordinary shares of £1.00 each
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The capital and reserves of the Company are as follows:
Called up share capital
Called up share capital represents the nominal value of shares that have been issued.
Profit and loss account
The profit and loss account represents cumulative profits, losses and total other recognised gains or losses made by the Company, including the distributions to, and contributions from, other group companies.
During the year, an error was identified in the calculation of deferred tax in respect of the prior period. The comparative figures have therefore been restated to correct the prior period. The restatement has resulted in an increase in the deferred tax liability at the prior period end of £231,608, with a corresponding decrease in retained earnings. There is no impact on the profit before tax for the prior period, as the adjustment represents a correction to the deferred tax charge recognised in the prior period. The effect of the restatement on the current year opening balances is an increase in the deferred tax liability of £231,608, a corresponding decrease in net assets of £231,608 and a decrease in retained earnings brought forward of £231,608.
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Related party transactions
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The Company has taken advantage of the exemption available in accordance with Section 33 "Related party disclosure" of FRS 102 not to disclose transactions entered into between two or more members of the group that are wholly owned.
During the year management charges of £Nil (Unaudited 2024 - £215,000) were received from Chasestead Special Projects LLP.
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Post balance sheet events
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There have been no significant events affecting the Company since the year end.
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CHASESTEAD GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
The Company's immediate and ultimate parent undertaking is Chasestead Holdings Limited, a company registered in England and Wales.
The Company's ultimate controlling parties are Mr Robin Moore and Mr Justin Sedgwick by virtue of their majority shareholdings in the Company's Ordinary shares.
The auditor's report on the financial statements for the year ended 31 August 2025 was unqualified.
The audit report was signed on 26 August 2026 by Glenn Armon-Jones ACA FCCA (Senior Statutory Auditor) on behalf of Barrow LLP.
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