|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHOLSO LIMITED |
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHOLSO LIMITED |
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
|
|
|
|
CHOLSO LIMITED (REGISTERED NUMBER: 02909590) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
CHOLSO LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
BUSINESS ADDRESS: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
62/63 Westborough |
Scarborough |
North Yorkshire |
YO11 1TS |
CHOLSO LIMITED (REGISTERED NUMBER: 02909590) |
|
BALANCE SHEET |
31 DECEMBER 2017 |
|
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investment property | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 11 |
|
|
Fair value reserve | 12 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
CHOLSO LIMITED (REGISTERED NUMBER: 02909590) |
|
BALANCE SHEET - continued |
31 DECEMBER 2017 |
|
|
|
|
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 on
|
|
|
|
|
|
|
|
CHOLSO LIMITED (REGISTERED NUMBER: 02909590) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
1. | STATUTORY INFORMATION |
|
Cholso Limited is a
|
registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
The principal accounting policies adopted in the preparation of the financial statements are set out below. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
CHOLSO LIMITED (REGISTERED NUMBER: 02909590) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2017 |
and 31 December 2017 |
|
|
|
|
DEPRECIATION |
At 1 January 2017 |
and 31 December 2017 |
|
|
|
|
NET BOOK VALUE |
At 31 December 2017 |
|
|
|
|
At 31 December 2016 |
|
|
|
|
|
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2017 |
|
Additions |
|
Revaluations | 84,221 |
At 31 December 2017 |
|
NET BOOK VALUE |
At 31 December 2017 |
|
At 31 December 2016 |
|
|
Fair value at 31 December 2017 is represented by: |
|
£ |
Valuation in 2014 | 814,109 |
Valuation in 2015 | 104,235 |
Valuation in 2016 | 169,026 |
Valuation in 2017 | 84,221 |
Cost | 1,003,409 |
2,175,000 |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
VAT |
|
|
Prepayments and accrued income |
|
|
|
|
CHOLSO LIMITED (REGISTERED NUMBER: 02909590) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Other creditors |
|
|
Directors' current accounts |
|
|
Accrued expenses |
|
|
|
|
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans - 1-2 years |
|
|
Bank loans - 2-5 years |
|
|
Bank loans more than 5 years repayable by
instalments |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more than 5 years repayable by
instalments |
144,532 |
181,569 |
|
9. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2017 | 2016 |
£ | £ |
Bank loans |
|
|
|
10. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred taxation | 227,108 | 217,474 |
|
Deferred |
tax |
£ |
Balance at 1 January 2017 |
|
Provided during year |
|
Changes in tax rate | (10,874 | ) |
Balance at 31 December 2017 |
|
CHOLSO LIMITED (REGISTERED NUMBER: 02909590) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
11. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
|
Ordinary | £1 | 100 | 100 |
|
12. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2017 |
|
Revaluation of investment properties | 84,221 |
Deferred tax on revaluation of investment
properties |
(9,634 |
) |
|
|
At 31 December 2017 |
|
|
13. | RELATED PARTY DISCLOSURES |
|
Included in Other Creditors is a loan of £100,000 (2016 - £100,000) from J C & D Holdings Limited, a Jersey |
based trust, in which Mr C E Nicholson is a discretionary beneficiary. During the period interest charged in the |
accounts relating to this loan amounted to £2,500 (2016 - £2,500). |