Company Registration No. 08902492 (England and Wales)
CHESTERGATE DEVELOPMENTS LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2018
PAGES FOR FILING WITH REGISTRAR
CHESTERGATE DEVELOPMENTS LIMITED
COMPANY INFORMATION
Directors
Mr M D Darcy
Mrs J Darcy
Mrs J M Webster
Mr N K Webster
Company number
08902492
Registered office
Alpha House
4 Greek Street
Stockport
Cheshire
SK3 8AB
CHESTERGATE DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
CHESTERGATE DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT 5 APRIL 2018
05 April 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investment properties
3
320,000
320,000
Current assets
Debtors
4
35
37
Cash at bank and in hand
7,147
1,963
7,182
2,000
Creditors: amounts falling due within one year
5
(321,949)
(319,432)
Net current liabilities
(314,767)
(317,432)
Total assets less current liabilities
5,233
2,568
Capital and reserves
Called up share capital
6
4
4
Profit and loss reserves
5,229
2,564
Total equity
5,233
2,568
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 5 April 2018 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.
The financial statements were approved by the board of directors and authorised for issue on 21 December 2018 and are signed on its behalf by:
Mr N K Webster
Director
Company Registration No. 08902492
CHESTERGATE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2018
- 2 -
1
Accounting policies
Company information
Chestergate Developments Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Alpha House, 4 Greek Street, Stockport, Cheshire, SK3 8AB.
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.
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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, being property letting.
1.3
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.
The surplus or deficit on revaluation is 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.
1.4
Taxation
The tax expense represents the sum of the tax currently payable
.
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 4 (2017 - 4).
3
Investment property
2018
£
Fair value
At 6 April 2017 and 5 April 2018
320,000
CHESTERGATE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2018
3
Investment property
(Continued)
- 3 -
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors.
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
35
37
5
Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
181
-
Other taxation and social security
2,442
2,443
Other creditors
319,326
316,989
321,949
319,432
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
4 Ordinary of £1 each
4
4
4
4