Chalfont Park Propco Limited
Chalfont Park Propco Limited
Registered number: 11999983
Unaudited Financial Statements
For The Year Ended
28 February 2022
RWCA LTD
158 Upper Newtownards Road
Belfast
Co Antrim
BT4 3EQ
Chalfont Park Propco Limited
Unaudited Financial Statements
For The Year Ended
28 February 2022
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—4 |
Chalfont Park Propco Limited
Balance Sheet
As at
28 February 2022
Balance Sheet
Registered number:
11999983
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 | |||||
Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 4 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET (LIABILITIES)/ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 5 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | (305,100) | 1 | |||
Chalfont Park Propco Limited
Balance Sheet (continued)
As at
28 February 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 Profit and Loss Account.
On behalf of the board
Director
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The notes on pages 3 to 4 form part of these financial statements.
Chalfont Park Propco Limited
Notes to the Financial Statements
For The Year Ended
28 February 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.
Going Concern Disclosure
At the year end the balance sheet was overdrawn by £305,100. At that date £5,537,783 was owed to the company's parent company, Stonegate Homes (Chalfont Park) Limited, which will not seek repayment until the company is in a position to do so.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
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:
1.5.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2021: 3)
3.
Tangible Assets
Investment Properties | |
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£ | |
Cost | |
As at
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Additions | 16,175,000 |
As at
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Net Book Value | |
As at
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As at
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Chalfont Park Propco Limited
Notes to the Financial Statements (continued)
For The Year Ended
28 February 2022
4.
Creditors: Amounts Falling Due Within One Year
2022 | 2021 | ||
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£ | £ | ||
Loans |
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Amounts owed to parent undertaking |
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6.
Related Party Transactions
During the year the company aquired it's investment property fro its parent company, Stonegate Homes (Chalfont Park) Limited, for £16,175,000.
At the year end it owed its parent company £5,537,783.
7.
Charges
Loans are secured by charges over the property of the company.
8.
General Information
Chalfont Park Propco Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
11999983
. The registered office is Oak Green House, First Floor, 250-256 High Street, Dorking, Surrey, RH4 1QT.