Chesswell Ltd - Accounts to registrar (filleted) - small 18.2

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REGISTERED NUMBER: 07915992 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

FOR

CHESSWELL LTD

Page

Company Information

Abridged Statement of Financial Position

Notes to the Financial Statements

DIRECTOR:

J Green

REGISTERED OFFICE:

43-45 Stamford Hill

London

N16 5SR

REGISTERED NUMBER:

07915992 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

1,757

1,361

Investment property

2,094,350

2,096,107

2,095,711

CURRENT ASSETS

Cash at bank

14,914

5,895

CREDITORS

Amounts falling due within one year

618,122

602,066

NET CURRENT LIABILITIES

(603,208

)

(596,171

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,492,899

1,499,540

CREDITORS

Amounts falling due after more than one year

942,612

971,101

NET ASSETS

550,287

528,439

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

366,011

Retained earnings

184,176

162,328

SHAREHOLDERS' FUNDS

550,287

528,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 January 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorized for issue by the director on 30 October 2019 and were signed by:

J Green - Director

1.	STATUTORY INFORMATION

Chesswell Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of

Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

and the Companies Act 2006. The financial statements have been prepared under the historical cost convention

except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

Turnover

Turnover represents net rent receivable, excluding 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.

Fixtures and fittings

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair

value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

5.	TANGIBLE FIXED ASSETS

Totals

COST

At 1 February 2018

3,359

Additions

706

At 31 January 2019

4,065

DEPRECIATION

At 1 February 2018

1,998

Charge for year

310

At 31 January 2019

2,308

NET BOOK VALUE

At 31 January 2019

1,757

At 31 January 2018

1,361

6.	INVESTMENT PROPERTY

Total

FAIR VALUE

At 1 February 2018

and 31 January 2019

2,094,350

NET BOOK VALUE

At 31 January 2019

2,094,350

At 31 January 2018

2,094,350

Fair value at 31 January 2019 is represented by:

Valuation in 2016

366,011

Cost

1,728,339

2,094,350

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

31.1.19

31.1.18

Repayable by instalments

Bank loans more 5 yr by instal

810,253

849,599

LOANS

An analysis of the maturity of loans is given below:

31.1.19

31.1.18

Amounts falling due within one year or on demand:

Bank loans

28,488

26,996

Amounts falling due between two and five years:

Bank loans - 2-5 years

132,359

121,502

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

810,253

849,599

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.19

31.1.18

Bank loans

971,100

998,097

Bank loan is secured by a first charge over company's investment property and bear interest at variable rates.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.19

31.1.18

value:

100

Ordinary

£1

100

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

At 1 February 2018

162,328

366,011

528,339

Profit for the year

21,848

At 31 January 2019

184,176

366,011

550,187

12.	ULTIMATE CONTROLLING PARTY

The controlling party is J Green.