Charter Court (New Malden) Limited - Accounts to registrar (filleted) - small 18.2

Charter Court (New Malden) Limited - Accounts to registrar (filleted) - small 18.2

CHARTER COURT (NEW MALDEN) LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v20.1.5.71 09413768 director 1.1.20 31.12.20 31.12.20 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure094137682019-12-31094137682020-12-31094137682020-01-012020-12-31094137682018-12-31094137682019-01-012019-12-31094137682019-12-3109413768ns16:EnglandWales2020-01-012020-12-3109413768ns15:PoundSterling2020-01-012020-12-3109413768ns11:Director12020-01-012020-12-3109413768ns11:PrivateLimitedCompanyLtd2020-01-012020-12-3109413768ns11:SmallEntities2020-01-012020-12-3109413768ns11:AuditExempt-NoAccountantsReport2020-01-012020-12-3109413768ns11:SmallCompaniesRegimeForDirectorsReport2020-01-012020-12-3109413768ns11:SmallCompaniesRegimeForAccounts2020-01-012020-12-3109413768ns11:FullAccounts2020-01-012020-12-3109413768ns11:OrdinaryShareClass12020-01-012020-12-3109413768ns11:RegisteredOffice2020-01-012020-12-3109413768ns6:CurrentFinancialInstruments2020-12-3109413768ns6:CurrentFinancialInstruments2019-12-3109413768ns6:Non-currentFinancialInstruments2020-12-3109413768ns6:Non-currentFinancialInstruments2019-12-3109413768ns6:ShareCapital2020-12-3109413768ns6:ShareCapital2019-12-3109413768ns6:RetainedEarningsAccumulatedLosses2020-12-3109413768ns6:RetainedEarningsAccumulatedLosses2019-12-3109413768ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-12-3109413768ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-12-3109413768ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2020-12-3109413768ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2019-12-3109413768ns11:OrdinaryShareClass12020-12-3109413768ns6:RetainedEarningsAccumulatedLosses2019-12-3109413768ns6:RetainedEarningsAccumulatedLosses2020-01-012020-12-31
REGISTERED NUMBER: 09413768 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2020

for

Charter Court (New Malden) Limited
Charter Court (New Malden) Limited (Registered number: 09413768)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Charter Court (New Malden) Limited

Company Information
for the Year Ended 31 December 2020







DIRECTOR: M J Morris





REGISTERED OFFICE: Unit 5 Woodcote Mews
Chequers Lane
Walton on the Hill
Tadworth
Surrey
KT20 7ST





REGISTERED NUMBER: 09413768 (England and Wales)





Page 1
Charter Court (New Malden) Limited (Registered number: 09413768)

Statement of Financial Position
31 December 2020

31.12.20 31.12.19
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 14,831,933 14,831,933

CURRENT ASSETS
Work in progress 330,218 158,908
Debtors 5 5,027,012 5,178,040
Cash at bank 185,092 20,162
5,542,322 5,357,110
CREDITORS
Amounts falling due within one year 6 17,018,439 11,738,423
NET CURRENT LIABILITIES (11,476,117 ) (6,381,313 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,355,816
8,450,620

CREDITORS
Amounts falling due after more than one
year
7
2,392,389
7,642,389
NET ASSETS 963,427 808,231

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 963,327 808,131
SHAREHOLDERS' FUNDS 963,427 808,231

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 director acknowledges his 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...
Charter Court (New Malden) Limited (Registered number: 09413768)

Statement of Financial Position - 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 director and authorised for issue on 14 September 2021 and were signed
by:





M J Morris - Director


The notes form part of these financial statements

Page 3
Charter Court (New Malden) Limited (Registered number: 09413768)

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

1. STATUTORY INFORMATION

Charter Court (New Malden) 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 as modified by the revaluation of certain assets.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions
that affect the amounts reported. These estimates and judgements are continually reviewed and are based on
experience and other factors , including expectations of future events that are believed to be reasonable under the
circumstances.

Turnover
Turnover represents rents and management fees receivable during the year.

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.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing work in progress to their present location and condition.

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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2020
and 31 December 2020 14,831,933
NET BOOK VALUE
At 31 December 2020 14,831,933
At 31 December 2019 14,831,933

Page 4 continued...
Charter Court (New Malden) Limited (Registered number: 09413768)

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

4. INVESTMENT PROPERTY - continued

The investment properties were revalued on fair value basis by Martin Morris, a director and shareholder of the
company at 31st December 2020 at £14,831,933 (2019 - £14,831,933). The historical cost of these properties
was £12,080,777. The valuation is based on yields accepted by major surveying companies and actual rentals
received.

Fair value at 31 December 2020 is represented by:

£   
Valuation in 2015 (590,000 )
Valuation in 2016 2,000,000
Valuation in 2017 520,000
Valuation in 2018 209,034
Valuation in 2019 612,122
Cost 12,080,777
14,831,933

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Trade debtors (4,317 ) (15,282 )
Other debtors 45,360 246,669
Amounts owed by related
parties 4,948,727 4,913,757
VAT 8,420 -
Prepayments 28,822 32,896
5,027,012 5,178,040

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Bank loans and overdrafts 5,250,000 -
Trade creditors 34,362 44,346
Amounts owed to group undertakings 11,460,269 11,499,959
Tax (209 ) (209 )
Other creditors 69,412 -
Amounts owed to related
parties 183,279 173,286
Accruals and deferred income 21,326 21,041
17,018,439 11,738,423

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.20 31.12.19
£    £   
Bank loans - 2-5 years - 5,250,000
Deferred tax 2,392,389 2,392,389
2,392,389 7,642,389

Page 5 continued...
Charter Court (New Malden) Limited (Registered number: 09413768)

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

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.20 31.12.19
value: £    £   
100 Ordinary 1.00 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2020 808,131
Profit for the year 155,196
At 31 December 2020 963,327

Page 6