Chase Commercial Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05889020 (England and Wales)

Chase Commercial Limited

Unaudited Financial Statements

for the Year Ended 31 December 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Ms G J Ackrill

Mr J K Retallack

Mr J R Meredith

REGISTERED OFFICE:

2 The Courtyard

Timothy's Bridge Road

Stratford-upon-Avon

Warwickshire

CV37 9NP

REGISTERED NUMBER:

05889020 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

FIXED ASSETS

Tangible assets

4

543

724

Investments

5

200,550

200,550

201,093

201,274

CURRENT ASSETS

Debtors

6

1,170,930

1,177,572

Cash at bank

135,007

2,489

1,305,937

1,180,061

CREDITORS

Amounts falling due within one year

7

1,596,121

1,434,800

NET CURRENT LIABILITIES

(290,184

)

(254,739

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(89,091

)

(53,465

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(90,091

)

(54,465

)

SHAREHOLDERS' FUNDS

(89,091

)

(53,465

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 April 2019 and were signed on its behalf by:

Mr J R Meredith - Director

1.	STATUTORY INFORMATION

Chase Commercial Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

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.

Turnover

Turnover comprises revenue recognised by the company in respect of management and licence fees

and profit share agreements during the year, exclusive of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

and 31 December 2018

965

DEPRECIATION

At 1 January 2018

241

Charge for year

181

At 31 December 2018

422

NET BOOK VALUE

At 31 December 2018

543

At 31 December 2017

724

5.	FIXED ASSET INVESTMENTS

Interest

Interest

in other

in joint

participating

venture

interests

Totals

£

£

£

COST

At 1 January 2018

and 31 December 2018

50

200,500

200,550

NET BOOK VALUE

At 31 December 2018

50

200,500

200,550

At 31 December 2017

50

200,500

200,550

Participating interests

Participating interests comprises a shareholding in Ashchurch 9 Limited, a company incorporated in the

United Kingdom, with 1,000 ordinary shares. And a shareholding in Tetrao Investments Limited, a

company incorporated in Jersey, with 10 ordinary shares, 1,979,991 A ordinary shares and 219,999 B

ordinary shares.

Joint Venture

The Joint venture comprises a shareholding in Chase-Reynes (Gloucester) Ltd, a company

incorporated in the United Kingdom, with 100 ordinary shares.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

24,936

22,369

Other debtors

1,145,994

1,155,203

1,170,930

1,177,572

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

12

Trade creditors

57,989

46,924

Amounts owed to participating interests

50

50

Taxation and social security

25

1,068

Other creditors

1,538,057

1,386,746

1,596,121

1,434,800

8.	RELATED PARTY DISCLOSURES

Chase Design Group Limited is owned by G J Ackrill.

J R Meredith is a director of Ashbridge Developments Limited. Ashbridge Developments has a

subsidiary called Chase Midlands Estates Limited.

G J Ackrill and J R Meredith are directors of Chase-Reynes (Gloucester) Limited, a company that Chase

Commercial Limited has entered into a joint venture agreement with.

J R Meredith is a director of Park Mill Developments Limited.

Included in related party undertakings (debtors)/ creditors at the year end were the following

amounts:

2018

2017

£

£

Chase Design Group Limited

1,930

3,442

Chase Midlands Estates Limited

(827,471

)

(827,471

)

Chase-Reynes (Gloucester) Limited

(250,000

)

(249,950

)

Park Mill Developments Limited

100,000

110,000

At 31 December 2018 the company was owed £827,471 (2017: £827,471) by Chase Midlands Estates

Limited, a company in which Mr J Meredith is also a director. This loan is interest free and is repayable

upon demand.

During the year the company incurred fees of £50,000 (2017: £50,000) for management services from

Park Mill Developments Limited, a company owned by J R Meredith.

At 31 December 2018 the company was owed £250,000 (2017: £249,950) by Chase-Reynes

(Gloucester) Limited. This is repayable upon demand.

Interest accrued and charged for the year was £12,575 (2017: £11,559) in respect of the loan from

Park Mill Developments Limited. Total interest accrued at the year end and included within accruals of

£35,340 (2017: £22,764).

Other loans consist of the following:

- an amount of £1,111,548 (2017: £1,111,548) included within other loans, owed to Worlddream

Limited, a company which is owned by G J Ackrill and her children, on which interest of £118,695

(2017: £90,557) is included within accruals at the year end. The interest charged for the year is

£28,408 (2017: £27,049) and is calculated on the interest bearing part of the loan balances at the rate

of 10%. £760,471 (2017: £760,471) is an interest free loan, and is repayable upon demand.

- an amount of £156,063 (2017: £41,063) included within other loans, owed to Gail Ackrill, which has

been introduced during the year as an investment in Andover. The interest charged for the year is

£10,879 (2017 £1,832), on which interest of £12,711 (2017 £1,832) is included within accruals at the

year end.