Challenger Homes (Crewe) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12070179 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2021

FOR

CHALLENGER HOMES (CREWE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J F D Scoble

Mr R A Hutchinson

REGISTERED OFFICE:

140 Lee Lane

Horwich

Bolton

Greater Manchester

BL6 7AF

REGISTERED NUMBER:

12070179 (England and Wales)

ACCOUNTANTS:

Kay Johnson Gee Limited

1 City Road East

Manchester

M15 4PN

FIXED ASSETS

Investment property

4

1,134,605

1,371,184

CURRENT ASSETS

Debtors

5

5,150

2

Cash at bank

108,689

45,680

113,839

45,682

CREDITORS

Amounts falling due within one year

6

(1,311,697

)

(1,436,113

)

NET CURRENT LIABILITIES

(1,197,858

)

(1,390,431

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(63,253

)

(19,247

)

CREDITORS

Amounts falling due after more than one year

7

(39,167

)

(49,167

)

NET LIABILITIES

(102,420

)

(68,414

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

(102,422

)

(68,416

)

SHAREHOLDERS' FUNDS

(102,420

)

(68,414

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th October 2021 and were signed on its behalf by:

Mr R A Hutchinson - Director

1.	STATUTORY INFORMATION

Challenger Homes (Crewe) Limited is a private company limited by share capital, incorporated in England and Wales, registration number 12070179. The address of the registered office is 140 Lee Lane, Horwich, Bolton, England, BL6 7AF and the principle place of business is Dunwoody Way, Partridge Close, Crewe, CW1 3LQ.

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.

The concept of going concern is an underlying assumption in the production of financial statements. As there are considerable net liabilities there is a question mark over going concern. Although there is no formal agreement in place the directors has indicated they will continue to provide financial support to the company for at least the next 12 months.

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.

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash at bank and in hand

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st July 2020

1,371,184

Additions

679,652

Disposals

(916,231

)

At 30th June 2021

1,134,605

NET BOOK VALUE

At 30th June 2021

1,134,605

At 30th June 2020

1,371,184

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

5,150

2

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

9,997

1,074,413

Other creditors

1,301,700

361,700

1,311,697

1,436,113

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

39,167

49,167

2021

2020

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

9,167

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Other loans

1,300,000

361,000

On the 15th October 2019 Togther Commercial Finance Limited created a fixed charge and also a floating charge over all the property or undertaking of the company; this charge contains a negative pledge.

On the 22nd October 2019 ECS Capital Limited and Apollo Select Limited created a fixed charge and also a floating charge over all the property or undertaking of the company; this charge contains a negative pledge.

On the 22nd October 2019 ECS Capital Limited and Apollo Select Limited and Rubardy Limited created a fixed charge and also a floating charge over all the property or undertaking of the company; this charge contains a negative pledge.

On the 1st September 2020 David Heywood T/a Express Loan Corporation created a fixed charge and also a floating charge over all the property or undertaking of the company; this charge contains a negative pledge.

On the 1st September 2020 ECS Capital Limited and Ben Luscombe created a fixed charge and also a floating charge over all the property or undertaking of the company; this charge contains a negative pledge.

On the 30 March 2021 ECS Capital Limited created a fixed charge and also a floating charge over all the property or undertaking of the company; this charge contains a negative pledge.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

2

Ordinary

£1.00

2

2