Chelsea Square Commercial Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05036714 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Chelsea Square Commercial Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A R Burgering

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

05036714 (England and Wales)

ACCOUNTANTS:

Gilchrists AB LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Tangible assets

4

888,025

CURRENT ASSETS

Debtors

5

249,752

235,931

Cash at bank

31,211

26,729

280,963

262,660

CREDITORS

Amounts falling due within one year

6

16,708

4,376

NET CURRENT ASSETS

264,255

258,284

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,152,280

1,146,309

CREDITORS

Amounts falling due after more than one
year

7

622,500

NET ASSETS

529,780

523,809

CAPITAL AND RESERVES

Called up share capital

10,000

Revaluation reserve

303,891

Retained earnings

215,889

209,918

529,780

523,809

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 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 12 August 2021 and were signed by:

A R Burgering - Director

1.	STATUTORY INFORMATION

Chelsea Square Commercial 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents rents receivable from the investment properties owned by company. Rents are recognised up to the year end date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Land and building held and used in the Company's own activities for production and supply of goods or for administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Depreciation on cost of buildings is charged to profit and loss. Depreciation on the revaluation amount on buildings is charged to the revaluation reserve, so as to write off their value less residual value, over their estimated useful life, using the straight line method.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 January 2020

and 31 December 2020

888,025

NET BOOK VALUE

At 31 December 2020

888,025

At 31 December 2019

888,025

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

Trade debtors

9,397

-

Amounts owed by group undertakings

235,697

232,439

Other debtors

4,658

3,492

249,752

235,931

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

Trade creditors

12,002

-

Taxation and social security

328

-

Other creditors

4,378

4,376

16,708

4,376

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.20

31.12.19

£

Bank loans

622,500

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

622,500

8.	RELATED PARTY DISCLOSURES

At year end the company was owed the following amounts from companies where Mr A Burgering is a common director and shareholder.

Company Name

Amount

Ingarangi Design and Build Ltd

7,400

Koru London Ltd

108,046

Chelsea Square Residential Ltd

1,080

DACOE Ltd

119,171

Total

235,697

Chelsea Square Commercial Limited - Accounts to registrar (filleted) - small 18.2

Chelsea Square Commercial Limited - Accounts to registrar (filleted) - small 18.2