CHANTRY (IPSWICH) LIMITED - Accounts to registrar (filleted) - small 18.2

CHANTRY (IPSWICH) LIMITED - Accounts to registrar (filleted) - small 18.2

CHANTRY (IPSWICH) LIMITED - Company Information

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REGISTERED NUMBER: 00945994 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2020

for

CHANTRY (IPSWICH) LIMITED
CHANTRY (IPSWICH) LIMITED (Registered number: 00945994)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHANTRY (IPSWICH) LIMITED

Company Information
for the Year Ended 31 December 2020







DIRECTORS: Mr P Benfield
Mr S Fletcher





REGISTERED OFFICE: 5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ





REGISTERED NUMBER: 00945994 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ
Page 1
CHANTRY (IPSWICH) LIMITED (Registered number: 00945994)

Balance Sheet
31 December 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 179,330 179,330
179,330 179,330

CURRENT ASSETS
Debtors 6 800 800
Cash at bank 82,104 85,147
82,904 85,947
CREDITORS
Amounts falling due within one year 7 16,137 14,437
NET CURRENT ASSETS 66,767 71,510
TOTAL ASSETS LESS CURRENT
LIABILITIES
246,097
250,840

CAPITAL AND RESERVES
Called up share capital 36,000 36,000
Retained earnings 210,097 214,840
SHAREHOLDERS' FUNDS 246,097 250,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 notes form part of these financial statements

Page 2 continued...
CHANTRY (IPSWICH) LIMITED (Registered number: 00945994)

Balance Sheet - continued
31 December 2020


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 17 May 2021 and were signed on its behalf by:





Mr P Benfield - Director


The notes form part of these financial statements

Page 3
CHANTRY (IPSWICH) LIMITED (Registered number: 00945994)

Notes to the Financial Statements
for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

CHANTRY (IPSWICH) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

For this company turnover represents rental income received 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.
Plant and machinery - at variable rates 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 balance sheet date.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

Page 4 continued...
CHANTRY (IPSWICH) LIMITED (Registered number: 00945994)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2020
and 31 December 2020 3,148
DEPRECIATION
At 1 January 2020
and 31 December 2020 3,148
NET BOOK VALUE
At 31 December 2020 -
At 31 December 2019 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2020
and 31 December 2020 179,330
NET BOOK VALUE
At 31 December 2020 179,330
At 31 December 2019 179,330

For the year ended 31st December 2019 the directors' reviewed the valuation of the investment property on an open market basis and were of the opinion that no revaluation adjustment was required.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Prepayments 800 800

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Tax 998 1,041
Social security and other taxes 400 400
Other creditors 10,419 9,816
Accrued expenses 4,320 3,180
16,137 14,437

Page 5