Company Registration No. 03628807 (England and Wales)
CHAIGLEY HALL PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
PAGES FOR FILING WITH REGISTRAR
CHAIGLEY HALL PROPERTIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
CHAIGLEY HALL PROPERTIES LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2019
30 November 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
42
Investment properties
4
719,735
641,629
719,735
641,671
Current assets
Debtors
5
1,046
976
Cash at bank and in hand
13,147
26,471
14,193
27,447
Creditors: amounts falling due within one year
6
(281,477)
(221,921)
Net current liabilities
(267,284)
(194,474)
Total assets less current liabilities
452,451
447,197
Creditors: amounts falling due after more than one year
7
(154,167)
(175,001)
Net assets
298,284
272,196
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
298,282
272,194
Total equity
298,284
272,196
The directors 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 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.
CHAIGLEY HALL PROPERTIES LTD
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2019
30 November 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 October 2020 and are signed on its behalf by:
JG Ingham
Director
Company Registration No. 03628807
CHAIGLEY HALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 3 -
1
Accounting policies
Company information
Chaigley Hall Properties Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
St Crispin House, St Crispin Way, Haslingden, Lancashire, BB4 4PW.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 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.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
Changes in fair value are recognised in profit or loss.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
CHAIGLEY HALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 December 2018 and 30 November 2019
800
Depreciation and impairment
At 1 December 2018
758
Depreciation charged in the year
42
At 30 November 2019
800
Carrying amount
At 30 November 2019
-
At 30 November 2018
42
4
Investment properties
2019
£
Fair value
At 1 December 2018
641,629
Additions
78,106
At 30 November 2019
719,735
CHAIGLEY HALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 5 -
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
1,046
976
6
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans (secured)
16,668
12,500
Trade creditors
83,052
55,570
Taxation and social security
7,100
6,020
Other creditors
174,657
147,831
281,477
221,921
7
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans (secured)
154,167
175,001