Charltons Property Ltd - Accounts to registrar (filleted) - small 23.2.5
Charltons Property Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 November 2022 |
| for |
| Charltons Property Ltd |
| Charltons Property Ltd (Registered number: 10461532) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Charltons Property Ltd |
| Company Information |
| for the Year Ended 30 November 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Charltons Property Ltd (Registered number: 10461532) |
| Balance Sheet |
| 30 November 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Charltons Property Ltd (Registered number: 10461532) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2022 |
| 1. | STATUTORY INFORMATION |
| Charltons Property Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises rental income receivable and is recognised in accordance with the terms of the tenants' lease agreements. |
| 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 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 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2021 |
| and 30 November 2022 |
| NET BOOK VALUE |
| At 30 November 2022 |
| At 30 November 2021 |
| Charltons Property Ltd (Registered number: 10461532) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2022 |
| 4. | INVESTMENT PROPERTY - continued |
| Fair value at 30 November 2022 is represented by: |
| £ |
| Valuation in 2018 | 810,561 |
| Valuation in 2021 | (40,000 | ) |
| Cost | 1,889,439 |
| 2,660,000 |
| If freehold investment property had not been revalued it would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 1,889,439 | 1,889,439 |
| Freehold investment property was valued on an open market basis basis on 19 October 2021 by ETP . |
| In the opinion of the director the above valuation remains appropriate as at the balance sheet date. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Amounts due by related undertakings |
| VAT |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT |
| Other creditors |
| Directors' current accounts |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,512,731 | 1,559,286 |
| Charltons Property Ltd (Registered number: 10461532) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2022 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Bank borrowings are secured by a fixed and floating charge over the assets and undertaking of the company. |
| 9. | RELATED PARTY DISCLOSURES |
| At the balance sheet date £9,771 (2021: £9,771 due by the company) was due to the company from AJ Charlton & Sons Limited, a company of which the directors are directors and shareholders. This balance is unsecured and interest-free. |
| 10. | ULTIMATE CONTROLLING PARTY |