CHESTERFELT_GROUP_LIMITED - Accounts

The directors present their annual report and financial statements for the year ended 30 November 2019.

The principal activity of the company continued to be that of a holding company. The company did not trade during the year.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chesterfelt Group Limited for the year ended 30 November 2019 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Chesterfelt Group Limited, as a body, in accordance with the terms of our engagement letter dated 10 January 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Chesterfelt Group Limited and state those matters that we have agreed to state to the Board of Directors of Chesterfelt Group Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chesterfelt Group Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Chesterfelt Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Chesterfelt Group Limited. You consider that Chesterfelt Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chesterfelt Group Limited. 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 financial statements.

For the financial year ended 30 November 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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.

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.

Chesterfelt Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Foxwood Way, Sheepbridge Industrial Estate, Chesterfield, Derbyshire, S41 9RX.

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 amounts 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 4 ‘Statement of Financial Position’: Reconciliation of the opening and closing number of shares;

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The company has not traded during the year or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

The company’s immediate parent undertaking is Chesterfelt Holdings Limited, which is the parent of both the smallest and largest groups of which the company is a member. Consolidated financial statements are available from the Company Secretary, Foxwood Way, Sheepbridge Industrial Estate, Chesterfield, S41 9RA.