Company Registration No. 09820763 (England and Wales)
60 Church Street Limited
Unaudited accounts
for the year ended 31 October 2023
60 Church Street Limited
Unaudited accounts
Contents
60 Church Street Limited
Company Information
for the year ended 31 October 2023
Company Number
09820763 (England and Wales)
Registered Office
Hare House
732 Whittingham Lane
Preston
PR3 2JJ
Accountants
The Tax Farm
Hare House
732 Whittingham Lane
Preston
PR3 2JJ
60 Church Street Limited
Statement of financial position
as at 31 October 2023
Tangible assets
17,416
48,055
Investment property
220,000
1,025,000
Cash at bank and in hand
396
20,714
Creditors: amounts falling due within one year
(125,736)
(126,725)
Net current assets
1,191,669
638,929
Total assets less current liabilities
1,429,085
1,711,984
Creditors: amounts falling due after more than one year
(1,012,585)
(1,306,585)
Provisions for liabilities
Net assets
416,500
387,732
Called up share capital
2
2
Profit and loss account
416,498
387,730
Shareholders' funds
416,500
387,732
For the year ending 31 October 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 June 2024 and were signed on its behalf by
Peter Charnley
Director
Company Registration No. 09820763
60 Church Street Limited
Notes to the Accounts
for the year ended 31 October 2023
60 Church Street Limited is a private company, limited by shares, registered in England and Wales, registration number 09820763. The registered office is Hare House, 732 Whittingham Lane, Preston, PR3 2JJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
60 Church Street Limited
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2022
103,338
1,980
105,318
Disposals
(35,612)
-
(35,612)
At 31 October 2023
67,726
1,980
69,706
At 1 November 2022
55,909
1,354
57,263
Charge for the year
5,648
157
5,805
On disposals
(10,778)
-
(10,778)
At 31 October 2023
50,779
1,511
52,290
At 31 October 2023
16,947
469
17,416
At 31 October 2022
47,429
626
48,055
Fair value at 1 November 2022
1,025,000
Net loss from fair value adjustments
(313,726)
At 31 October 2023
220,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors in October 2022.
Amounts falling due within one year
Amounts due from group undertakings etc.
1,186,834
693,834
Deferred tax asset
55,829
-
Accrued income and prepayments
-
4,396
Other debtors
30,420
30,420
7
Creditors: amounts falling due within one year
2023
2022
Loans from directors
116,998
116,998
60 Church Street Limited
Notes to the Accounts
for the year ended 31 October 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
1,012,585
1,306,585
9
Deferred taxation
2023
2022
Revaluation of investment property
(55,829)
17,667
Provision at start of year
17,667
48,730
Credited to the profit and loss account
(73,496)
(31,063)
Provision at end of year
(55,829)
17,667
10
Transactions with related parties
The following amounts were outstanding at the reporting end date:
Amounts owed to related parties
Charnley Property Limited £142,541 (2022 - £142,541)
P&PC Surveyors Limited £870,044 (2022 - £924,044)
The amount outstanding due to Charnley Property Limited, a company in which Mr. P Charnley is a director and shareholder, is in respect of a loan. No Interest was charged on the loan during the year.
The amount outstanding due to P&PC Surveyors Limited a company in which Mr. P Charnley is a director and shareholder, is in respect of a loan. No interest was charged on the loan during the year.
Amounts owed from related parties
Lancaster Property Lettings Limited £30,200 (2022 - £30,200)
The amount outstanding due from Lancaster Property Lettings Limited, a company in which Mr. P Charnley is a director and shareholder, is in respect of a loan. No Interest was charged on the loan during the year.
11
Average number of employees
During the year the average number of employees was 0 (2022: 0).
