Cherwell Group Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 30 April 2021
Company Registration No. 03198530 (England and Wales)
Cherwell Group Limited
Balance Sheet
As at 30 April 2021
Page 1
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
22
22
Current assets
Debtors
4
40,080
40,080
Creditors: amounts falling due within one year
5
(82)
(82)
Net current assets
39,998
39,998
Total assets less current liabilities
40,020
40,020
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
39,920
39,920
Total equity
40,020
40,020
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2022 and are signed on its behalf by:
T.G. Holroyd
Director
Company Registration No. 03198530
Cherwell Group Limited
Notes to the Financial Statements
For the year ended 30 April 2021
Page 2
1
Accounting policies
Company information
Cherwell Group Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
1 Cherwell Mews, London, England, SW11 1AF.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest
pound
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 of the
Companies Act 2006 not to prepare consolidated accounts. The
financial statements
present information about the company as an individual entity and not about its group
.
1.2
Going concern
The directors have assessed the impact of the worldwide COVID-19 pandemic on the company and consider any impact or delays to be short term only. As a result the directors believe that the company will be able to continue in business and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements. On this basis, the directors consider it appropriate for the accounts to be prepared on the going concern basis.
true
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.4
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or financial instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Cherwell Group Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2021
Page 3
2
Dividends
2021
2020
£
£
Interim paid
723,001
516,000
3
Fixed asset investments
2021
2020
£
£
Investments
22
22
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 May 2020 & 30 April 2021
22
Carrying amount
At 30 April 2021
22
At 30 April 2020
22
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts due from group undertakings
40,000
40,000
Other debtors
80
80
40,080
40,080
5
Creditors: amounts falling due within one year
2021
2020
£
£
Other creditors
82
82
Cherwell Group Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2021
Page 4
6
Called up share capital
2021
2020
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
7
Related party transactions
The balance owed to the company at the year end by its subsidiary undertaking, Cherwell Investments Limited, was £40,000 (2020: £40,000). During the year Cherwell Investments Limited declared dividends of £723,001 (2020: £516,000) to the company.
During the year the company declared dividends of £340,000 (2020: £258,000) to A J Thompson, and £340,000 (2020: £258,000) to T G Holroyd, both were directors of the company during the year.
At the year end the company owed £41 (2020: £41) to T G Holroyd and owed £41 (2020: £41) to A J Thompson.
8
Parent company
The parent undertaking is Cherwell Holroyd Limited (reg. no 13225038), a company incorporated in England & Wales. The registered office of the company is 1 Cherwell Mews, London, SW11 1AF.
9
Subsidiaries
These financial statements are separate company financial statements for Cherwell Group Limited.
Details of the company's subsidiaries at 30 April 2021 are as follows:
Name of undertaking and country of
Nature of business
Class of
% Held
incorporation or residency
shareholding
Direct
Indirect
Cherwell Estates Limited
England and Wales
Dormant
Ordinary
100.00
0
Cherwell Investments Limited
England and Wales
Property Investment
Ordinary
100.00
0
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Cherwell Estates Limited
-
14,646
Cherwell Investments Limited
197,440
24,608,546