Company Registration No. 12853658 (England and Wales)
CHAIRBOROUGH DEVELOPMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2021
PAGES FOR FILING WITH REGISTRAR
CHAIRBOROUGH DEVELOPMENTS LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
CHAIRBOROUGH DEVELOPMENTS LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2021
30 September 2021
- 1 -
2021
Notes
£
£
Fixed assets
Investment properties
3
3,086,075
Current assets
Debtors
4
148,354
Creditors: amounts falling due within one year
5
(217,683)
Net current liabilities
(69,329)
Total assets less current liabilities
3,016,746
Creditors: amounts falling due after more than one year
6
(764,391)
Net assets
2,252,355
Capital and reserves
Called up share capital
2,235,394
Profit and loss reserves
16,961
Total equity
2,252,355
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 7 April 2022 and are signed on its behalf by:
Mr. P J Hearn
Director
Company Registration No. 12853658
CHAIRBOROUGH DEVELOPMENTS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 SEPTEMBER 2021
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Period ended 30 September 2021:
Profit and total comprehensive income for the period
-
16,961
16,961
Issue of share capital
2,235,394
-
2,235,394
Balance at 30 September 2021
2,235,394
16,961
2,252,355
CHAIRBOROUGH DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2021
- 3 -
1
Accounting policies
Company information
Chairborough Developments Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
St. George's Works, Coronation Road, Cressex Business Park, High Wycombe, Buckinghamshire, United Kingdom, HP12 3GG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rents receivable for the year.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
Changes in fair value are recognised in profit or loss.
1.4
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2021
Number
Total
CHAIRBOROUGH DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2021
- 4 -
3
Investment property
2021
£
Fair value
At 2 September 2020
Additions
3,086,075
At 30 September 2021
3,086,075
The investment property was valued on an open market basis on 30 September 2021 by the director, Mr P J Hearn.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2021
£
Cost
3,086,075
Accumulated depreciation
-
Carrying amount
3,086,075
4
Debtors
2021
Amounts falling due within one year:
£
Trade debtors
18,924
Other debtors
129,430
148,354
5
Creditors: amounts falling due within one year
2021
£
Bank loans and overdrafts
47,703
Trade creditors
24,686
Taxation and social security
9,922
Other creditors
135,372
217,683
CHAIRBOROUGH DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2021
- 5 -
6
Creditors: amounts falling due after more than one year
2021
£
Bank loans and overdrafts
764,391
7
Secured debts
At 30 September 2021 secured debts of £812,094 are included within creditors.
A legal charge dated 23 April 2021 over a property in Coronation Road, Cressex Business Park, High Wycombe, Bucks, was created for securing all monies due or to become due to Lloyds Bank PLC.