REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
FOR |
CHAPELLANE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
FOR |
CHAPELLANE LIMITED |
CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CHAPELLANE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Ground Floor |
Egerton House |
68 Baker Street |
Weybridge |
Surrey |
KT13 8AL |
CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105) |
BALANCE SHEET |
30 APRIL 2022 |
30.4.22 | 30.4.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105) |
BALANCE SHEET - continued |
30 APRIL 2022 |
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 |
CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
1. | STATUTORY INFORMATION |
Chapellane Limited is a |
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 income from the rental of investment properties. |
Rental income is recognised in the period in which it relates to. |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
Investment property |
In accordance with FRS 102; Investment property is property (land or building, or part of a building, or both) held by the owner or by the lessee under a finance lease to earn rentals or for capital appreciation or both. An entity shall measure investment property at its initial recognition. The cost of a purchased investment property comprises its purchase price and any directly attributable expenditure such as legal and brokerage fees, property transfer taxes and other transaction costs. Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
The directors consider that the value included in the accounts is a fair valuation of the property's market value at the balance sheet date. |
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 balance sheet date. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
4. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
undertakings |
£ |
COST |
At 1 May 2021 |
and 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2021 |
and 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
Investment property was valued on an open market basis on 30 April 2022 by the directors. On a historical cost basis the investment properties would have been included at an original cost of £2,329,749 (2021 - £2,329,749). |
Fair value at 30 April 2022 is represented by: |
£ |
Valuation in 2015 | 705,574 |
Valuation in 2016 | 80,000 |
Valuation in 2017 | 95,000 |
Valuation in 2019 | 294,677 |
Cost | 2,329,749 |
3,505,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Trade debtors |
Other debtors |
CHAPELLANE LIMITED (REGISTERED NUMBER: 03196105) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Bank loans |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.22 | 30.4.21 |
£ | £ |
Bank loans |
The bank loans are secured over the company's investment properties. |
10. | PROVISIONS FOR LIABILITIES |
30.4.22 | 30.4.21 |
£ | £ |
Deferred tax | 116,250 | 116,250 |
Deferred |
tax |
£ |
Balance at 1 May 2021 |
Balance at 30 April 2022 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.22 | 30.4.21 |
value: | £ | £ |
Ordinary | £1 | 2,001 | 2,001 |
12. | RELATED PARTY DISCLOSURES |
At the year end the company owed the shareholders £765,000 (2021 - £765,000) The loan is interest free. |