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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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Chelsea Portfolio Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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for |
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Chelsea Portfolio Limited |
Chelsea Portfolio Limited (Registered number: 03168996) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chelsea Portfolio Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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Director: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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Fremnells |
Hawkswood Road |
Downham |
Essex |
CM11 1JT |
Chelsea Portfolio Limited (Registered number: 03168996) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 9 |
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Retained earnings | ( |
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The director acknowledges his responsibilities for: |
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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. |
Chelsea Portfolio Limited (Registered number: 03168996) |
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Balance Sheet - continued |
31 March 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Chelsea Portfolio Limited (Registered number: 03168996) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Chelsea Portfolio Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
Chelsea Portfolio Limited (Registered number: 03168996) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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3. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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Cost |
At 1 April 2017 |
and 31 March 2018 |
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Depreciation |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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Net book value |
At 31 March 2018 |
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At 31 March 2017 |
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4. | INVESTMENT PROPERTY |
Total |
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Fair value |
At 1 April 2017 |
and 31 March 2018 |
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Net book value |
At 31 March 2018 |
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At 31 March 2017 |
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The investment properties were valued on an open market basis on 23 May 2006 by Knight Frank. |
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5. |
DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Amounts owed by |
group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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Chelsea Portfolio Limited (Registered number: 03168996) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.18 | 31.3.17 |
£ | £ |
Bank loans |
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The bank loan is secured by first legal charges dated 26 June 1996 and 6 November 1996 over the company's |
investment properties, plus a short form debenture over the assets of the company. |
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9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2017 |
and 31 March 2018 |
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10. | RELATED PARTY DISCLOSURES |
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During the year the company was charged a management fee of £60,000 (2017: £50,000) by
Frasertown Limited
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its ultimate parent company . At the balance sheet date Frasertown Limited owed the company £57,628 which is included in debtors due in more than one year. |
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The director of the company is also a director of
New Heath Portfolio Limited
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Heath Portfolio Limited owed the company £77,408 which is included in debtors due in more than one year. |