Chaplins (Lettings) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 5

Chaplins (Lettings) Limited

(Registration number: 14061974)
Statement of Financial Position as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	1,308,733	648,670
Current assets
Debtors	5	1,672	5,951
Cash at bank and in hand		369	52,998
		2,041	58,949
Creditors: Amounts falling due within one year	6	(688,894)	(17,287)
Net current (liabilities)/assets		(686,853)	41,662
Net assets		621,880	690,332
Capital and reserves
Called up share capital		1,050	1,050
Profit and loss account		620,830	689,282
Shareholders' funds		621,880	690,332

For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 4 September 2026 and signed on its behalf by:
 

L S Thompson Director

Chaplins (Lettings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Westcotts (Sw) LLP
Plym House, 3 Longbridge Road
Mash Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of the letting of owned real estate.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover is measured at the fair value of rent received or receivable under a lease.

Chaplins (Lettings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Investment property	Not depreciated

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure.

Chaplins (Lettings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

2	Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2025 - 3).

4	Tangible assets

	Investment property £	Total £
Cost or valuation
At 1 February 2025	648,670	648,670
Additions	660,063	660,063
At 31 January 2026	1,308,733	1,308,733
Depreciation
Carrying amount
At 31 January 2026	1,308,733	1,308,733
At 31 January 2025	648,670	648,670

Investment property above has not been revalued. The directors do not believe the value of investment property has materially changed as at 31 January 2026.

Chaplins (Lettings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

5

Debtors

	2026 £	2025 £
Other debtors	1,050	5,563
Prepayments	622	388
	1,672	5,951

6

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Taxation and social security	-	6,404
Accruals and deferred income	1,945	1,854
Other creditors	686,949	9,029
	688,894	17,287

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Related party transactions

Summary of transactions with all entities with joint control or significant interest

At the year end the total amount owed to other companies under the common control of the directors totals £681,949 (2025: £9,029).