CHR Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00281565 (England and Wales)

CHR Estates Limited

Financial Statements

for the Year Ended 30 June 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N Smillie

Ms J R Fletcher OBE

Mrs H E Craven

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

00281565 (England and Wales)

ACCOUNTANTS:

Jolliffe Cork LLP

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

2,219

11,428

CURRENT ASSETS

Stocks

2,594,948

1,894,551

Debtors

5

2,123,504

782,730

Cash at bank

428,698

27,617

5,147,150

2,704,898

CREDITORS

Amounts falling due within one year

6

3,875,308

1,452,237

NET CURRENT ASSETS

1,271,842

1,252,661

TOTAL ASSETS LESS CURRENT LIABILITIES

1,274,061

1,264,089

CREDITORS

Amounts falling due after more than one year

7

(216,000

)

(324,000

)

PROVISIONS FOR LIABILITIES

(1,213

)

-

NET ASSETS

1,056,848

940,089

CAPITAL AND RESERVES

Called up share capital

9

700

700

Retained earnings

1,056,148

939,389

SHAREHOLDERS' FUNDS

1,056,848

940,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2020 and were signed on its behalf by:

Mr N Smillie - Director

1.	STATUTORY INFORMATION

CHR Estates Limited is a private limited company, limited by shares, registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page. The company's principal

place of business is Suite 2, 7 Victoria Avenue, Harrogate, HG1 1EQ.

The functional and presentation currency for the company is pound sterling (£). All financial information presented has

been rounded to the nearest (£), unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover in respect of property development is recognised once the sale has legally completed.Turnover in respect of rents

receivable is recognised on an accruals basis. Turnover in respect of management charges receivable is recognised on an

accruals basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Motor vehicles

-

33% on cost

Office equipment

-

25% on cost

Tangible fixed assets are recorded initially at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual

provisions of the instrument.

Financial assets and liabilities ae offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and

settle the liability simultaneously.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Operating lease agreements

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are

charged against profits on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2018

-

31,645

-

31,645

Additions

1,500

-

1,524

3,024

Disposals

-

(31,645

)

-

(31,645

)

At 30 June 2019

1,500

-

1,524

3,024

DEPRECIATION

At 1 July 2018

-

20,217

-

20,217

Charge for year

500

6,154

305

6,959

Eliminated on disposal

-

(26,371

)

-

(26,371

)

At 30 June 2019

500

-

305

805

NET BOOK VALUE

At 30 June 2019

1,000

-

1,219

2,219

At 30 June 2018

-

11,428

-

11,428

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

1,879

-

Amounts owed by group undertakings

1,973,281

672,334

Amounts owed by related undertakings

-

2,352

VAT

144,543

8,793

Prepayments and accrued income

3,801

99,251

2,123,504

782,730

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

8,101

9,461

Amounts owed to group undertakings

2,025,067

-

Amounts owed to related undertakings

1,484,194

1,237,116

Tax

27,864

-

Other creditors

108,000

108,000

Director's current account

9,300

65,497

Accruals and deferred income

212,782

32,163

3,875,308

1,452,237

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

216,000

324,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Other creditors

324,000

432,000

The Security is against all the land in Holly Hill Farm Park.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

700

Ordinary

£1

700

700

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly

owned subsidiaries within the group.