CCHP Ltd - Period Ending 2018-12-31

Registration number: SC600072

CCHP Ltd

Annual Report and Unaudited Financial Statements

for the Period from 15 June 2018 to 31 December 2018

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Borders
TD9 9BD

CCHP Ltd

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 6

CCHP Ltd

Company Information

Directors

Mr C R Henderson Mr C W Henderson Mr I Henderson Mr W Rooney

Company secretary

Mr I Henderson

Registered office

Terston House 1 Huly Hill Road Newbridge Edinburgh EH28 8PH

Accountants

Deans Accountants And Business Advisors Ltd 27 North Bridge Street Hawick Borders TD9 9BD

Page 1

DEANS

Chartered Accountants

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
CCHP Ltd for the Period Ended 31 December 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CCHP Ltd for the period ended 31 December 2018 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of CCHP Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CCHP Ltd and state those matters that we have agreed to state to the Board of Directors of CCHP Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CCHP Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CCHP Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CCHP Ltd. You consider that CCHP Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of CCHP Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Borders
TD9 9BD

31 May 2019

Page 2

CCHP Ltd

(Registration number: SC600072)
Balance Sheet as at 31 December 2018

	Note	2018 £
Fixed assets
Investment property	3	697,209
Current assets
Debtors	4	1,000
Cash at bank and in hand		57,926
		58,926
Creditors: Amounts falling due within one year	5	(740,867)
Net current liabilities		(681,941)
Net assets		15,268
Capital and reserves
Called up share capital	6	1,000
Profit and loss account		14,268
Total equity		15,268

For the financial period ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 May 2019 and signed on its behalf by:
 

.........................................

Mr C R Henderson
Director

.........................................

Mr I Henderson
Company secretary and director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

CCHP Ltd

Notes to the Financial Statements for the Period from 15 June 2018 to 31 December 2018

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Terston House 1 Huly Hill Road
Newbridge
Edinburgh
EH28 8PH
Scotland

The principal place of business is:
Terston House 1 Huly Hill Road
Newbridge
Edinburgh
EH28 8PH
Scotland

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and rounded to the nearest £1.

Judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made included:

Useful economic lives of tangible assets – the annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the assets.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales value added tax, returns, rebates and discounts.

Rental income
Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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CCHP Ltd

Notes to the Financial Statements for the Period from 15 June 2018 to 31 December 2018

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of it’s liabilities.
 Recognition and measurement
Where shares are issued, any component that creates, a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expenses in the profit and loss account.
 Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objective evidence of impairment. The impairment loss is recognised in the profit and loss account.
 

Page 5

CCHP Ltd

Notes to the Financial Statements for the Period from 15 June 2018 to 31 December 2018

3	Investment properties

	2018 £
Additions	697,209

The directors are satisfied that value of the investment properties in the accounts is still appropriate at the balance sheet date.

There has been no valuation of investment property by an independent valuer.

4

Debtors

	2018 £
Other debtors	1,000
	1,000

5

Creditors

Creditors: amounts falling due within one year

	2018 £
Due within one year
Trade creditors	289
Taxation and social security	8,316
Accruals and deferred income	21,603
Other creditors	710,659
	740,867

6	Share capital

Allotted, called up and fully paid shares

	2018
	No.	£
Ordinary shares of £0.01 each	100,000	1,000.00

7	Related party transactions

Other transactions with directors

Certain directors have been advanced loans from the company. These loans are repayable on demand. The amount advanced to these directors during the period was £1,000.

Summary of transactions with other related parties

During the period CCHP Limited borrowed monies from certain other companies controlled by the directors. The loans are repayable on demand. At the balance sheet date the amount due to these companies was £707,312.
 

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