Chalford Property Company Limited Filleted accounts for Companies House (small and micro)
Chalford Property Company Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
02891858
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Statement of Financial Position |
2018 |
2017 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Investments |
6 |
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Current assets
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets/(liabilities) |
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(
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Total assets less current liabilities |
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Capital and reserves
Called up share capital |
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Share premium account |
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Revaluation reserve |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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Statement of Financial Position (continued) |
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
25 March 2019
, and are signed on behalf of the board by:
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Director |
Company registration number:
02891858
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Notes to the Financial Statements |
Year ended 30 June 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Castle Business Village, Station Road, Hampton, Middlesex, TW12 2BX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover represents the gross proceeds of complete sales and gross rents receivable. .
Deferred tax
Deferred tax is recognised, calculated by the liability method, in respect of all timing differences that have originated but not reversed at the Balance Sheet date to the extent that it is probable that the tax will become payable. No provision is made for protential deferred taxation on the potential sales of the company's investment properties at valuation
Losses
Losses are provided for in the year in which the Company first becomes aware of the likelihood of such losses being incurred.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
Stocks
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2017:
2
).
5.
Tangible assets
Land and buildings |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 July 2017 and 30 June 2018 |
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Depreciation |
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At 1 July 2017 |
– |
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Charge for the year |
– |
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At 30 June 2018 |
– |
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Carrying amount |
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At 30 June 2018 |
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At 30 June 2017 |
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The Freehold properties which are included at open market value, are investment properties The freehold properties were revalued at 30 June 2014 by a Director, Mr James Hickman. The historical costs of the freehold properties at the Balance Sheet date was Investment Properties £5,192,592 (2017 - £5,192,592). No provision has been made for taxation which might become payable if the investment properties were sold at the revalued amounts, the maximum potential liability to taxation would be approximately £48,350 (2017 £51,087).
6.Investments
Other investments other than loans |
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£ |
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Cost |
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At 1 July 2017 |
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Additions |
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At 30 June 2018 |
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Impairment |
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At 1 July 2017 and 30 June 2018 |
– |
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Carrying amount |
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At 30 June 2018 |
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At 30 June 2017 |
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7.
Debtors
2018 |
2017 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Unsecured loan - Cox & Readman Developments Limited |
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Unsecured loan - Parent company Ember Estates Limited |
122,583
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572,695
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Other creditors |
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Included in other creditors is an amount of £11,505 (2017 - £11,505) due to Marprook Property Company Limited.
9.
Related party transactions