Chadd Properties Ltd
Chadd Properties Ltd
Registered number: 09020276
Unaudited Financial Statements
For The Year Ended
31 May 2022
Charlton Baker Limited
Chadd Properties Ltd
Unaudited Financial Statements
For The Year Ended
31 May 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Company Information | 1 |
| Accountant's Report | 2 |
| Statement of Financial Position | 3—4 |
| Notes to the Financial Statements | 5—7 |
Chadd Properties Ltd
Company Information
For The Year Ended
31 May 2022
Company Information
| Director |
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| Company Number |
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| Registered Office | 67 Westow |
| Upper Norwood | |
| London | |
| SE19 3RW | |
| Accountants |
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| Devizes | |
| Wiltshire | |
| SN10 1DU | |
Chadd Properties Ltd
Accountant's Report
For The Year Ended
31 May 2022
Accountant's Report
In accordance with the engagement letter dated 21 September 2021, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the statement of financial position as at year ended
31 May 2022
your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
| Signed |
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7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
Chadd Properties Ltd
Statement of Financial Position
As at
31 May 2022
Statement of Financial Position
Registered number:
09020276
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Investments | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | 2,587,558 | 2,103,312 | |||
Chadd Properties Ltd
Statement of Financial Position (continued)
As at
31 May 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
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Director
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The notes on pages 5 to 7 form part of these financial statements.
Chadd Properties Ltd
Notes to the Financial Statements
For The Year Ended
31 May 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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1.3.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.4.
Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2021: 2)
Chadd Properties Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 May 2022
3.
Tangible Assets
| Land & Property | |
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| Freehold | |
| £ | |
| Cost | |
| As at
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| Disposals |
( |
| As at
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| Net Book Value | |
| As at
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| As at
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4.
Debtors
| 2022 | 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Amounts owed by group undertakings | 280,754 | 92,530 | |
| Other debtors | 1,695,461 | 2,006,052 | |
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5.
Current Asset Investments
| 2022 | 2021 | ||
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| £ | £ | ||
| Shares in subsidiaries |
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| Unlisted investments | 550 | 550 | |
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6.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to group undertakings | - | 65 | |
| Taxation and social security | 6,204 | 491,019 | |
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Chadd Properties Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 May 2022
8.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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| £ | £ | £ | £ | £ | |
| Mr Josh Chadd |
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( |
- |
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The above loan is unsecured, interest free and repayable on demand.
9.
General Information
Chadd Properties Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
09020276
. The registered office is 67 Westow, Upper Norwood, London, SE19 3RW.