Charm Investments Limited - Accounts to registrar (filleted) - small 18.2
Charm Investments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2022 |
for |
Charm Investments Limited |
Charm Investments Limited (Registered number: 05477857) |
Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Charm Investments Limited (Registered number: 05477857) |
Balance Sheet |
31 March 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors: amounts falling due within one year |
6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Fair value reserve | 8 |
Retained earnings |
Shareholders' funds |
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. |
Charm Investments Limited (Registered number: 05477857) |
Balance Sheet - continued |
31 March 2022 |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Charm Investments Limited (Registered number: 05477857) |
Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
1. | Statutory information |
Charm Investments Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Rental income from operating leases (net of any incentives given to the lesees) is recognised on a straight-line basis over the lease term, net of VAT. |
Investment property |
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. |
Investment property is revalued at its fair value at each reporting date and any changes in fair value are recognised in profit or loss. |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Charm Investments Limited (Registered number: 05477857) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 NIL (2021 - NIL). |
4. | Investment property |
Total |
£ |
Fair value |
At 1 April 2021 |
Additions |
At 31 March 2022 |
Net book value |
At 31 March 2022 |
At 31 March 2021 |
The investment properties have been valued at fair value at the balance sheet date by the directors, based on the open market value of similar properties. |
Charm Investments Limited (Registered number: 05477857) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
5. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Taxation and social security |
Other creditors |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | Reserves |
Fair |
value |
reserve |
£ |
At 1 April 2021 |
and 31 March 2022 |
9. | Related party disclosures |
During the year, the company paid interest amounting to £10,223 (2021: £7,348) to the directors. At the year end, the company owed the directors £516,731 (2021: £506,508). |
During the year, the company paid interest amounting to £29,963 (2021: £28,505) to the shareholders. At the year end, the company owed the shareholders £635,620 (2021: £605,657). |