CHELMOR_PROPERTY_LIMITED - Accounts

CHELMOR PROPERTY LIMITED - Company Information

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Company Registration No. 03899252 (England and Wales)

CHELMOR PROPERTY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

CHELMOR PROPERTY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CHELMOR PROPERTY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

Current assets

Debtors

11,555

6,485

Cash at bank and in hand

797

1,752

12,352

8,237

Creditors: amounts falling due within one year

(115,086)

(109,349)

Net current liabilities

(102,734)

(101,112)

Total assets less current liabilities

(102,733)

(101,111)

Creditors: amounts falling due after more than one year

(103,299)

(102,733)

(204,410)

Capital and reserves

Called up share capital

100

Profit and loss account

(102,833)

(204,510)

Shareholders' funds

(102,733)

(204,410)

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 15 December 2016

W.N. Jenkins

Director

Company Registration No. 03899252

CHELMOR PROPERTY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The director believes that it is appropriate for the financial statements to be prepared on the going concern basis as he considers that the company will continue in operational existence for the foreseeable future.

1.2

Turnover

Turnover represents amounts receivable for consultancy services net of VAT.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% straight line

1.4

Revenue recognition

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration and is measured at the fair value of the right to consideration, which represents amounts chargeable to customers, including expenses and disbursements but excluding value added tax

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2015 & at 31 December 2015

4,244

4,245

Depreciation

At 1 January 2015 & at 31 December 2015

4,243

4,244

Net book value

At 31 December 2015

At 31 December 2014

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Greenglade Developments Ltd

England and Wales

Ordinary

100.00

CHELMOR PROPERTY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

Fixed assets

(Continued)

- 3 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Greenglade Developments Ltd

Property development

The aggregate amount of capital and reserves and the results of this undertaking for the year ended 31 December 2015 is not available as the subsidiary company is in administration and subsequent to the year end was dissolved. The principal activity of Greenglade Developments Limited was property development.

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Amounts loaned by the director to the company

Amounts loaned by the director and repaid to the director during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

W.N. Jenkins - Loan to the company

53,496

8,578

3,965

58,109

53,496

8,578

3,965

58,109

Other transactions

Included in other creditors are amounts owed to the director in respect of expenses incurred on behalf of the company. During the year these expenses amounted to £1,264 (2014: £2,664) and at the year end the company owed the director £40,330 (2014: £39,066).

During the year the company's debt obligation in respect of a loan from a connected company was released as the connected company has been dissolved. The release of the debt obligation amounts to £103,299. At the year end the balance owed to this connected company was £nil (2014: £103,299).

During the year the company loaned £4,600 to Chelmor Holdings Limited, a company registered in Jersey. Chelmor Holdings Limited is a company under common control. At the year end the amount owed by Chelmor Holdings Limited was £10,953 (2014: £6,353).