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 2020

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:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

1,338

2,219

Investments

5

500

-

1,838

2,219

CURRENT ASSETS

Stocks

2,264,303

2,594,948

Debtors

6

2,255,971

2,123,504

Cash at bank

242,569

428,698

4,762,843

5,147,150

CREDITORS

Amounts falling due within one year

7

3,489,075

3,875,308

NET CURRENT ASSETS

1,273,768

1,271,842

TOTAL ASSETS LESS CURRENT LIABILITIES

1,275,606

1,274,061

CREDITORS

Amounts falling due after more than one year

8

(108,000

)

(216,000

)

PROVISIONS FOR LIABILITIES

-

(1,213

)

NET ASSETS

1,167,606

1,056,848

CAPITAL AND RESERVES

Called up share capital

10

700

700

Retained earnings

1,166,906

1,056,148

SHAREHOLDERS' FUNDS

1,167,606

1,056,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 18 June 2021 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.

Going concern - Coronavirus Pandemic

The directors have considered the risks and uncertainties arising from the coronavirus pandemic which began to take effect on a global scale from February 2020 onwards. The directors have taken account of the projected development costs for the remainder of 2020 and into 2021 together with the company's cash resources and whilst the ultimate outcome of the coronavirus pandemic is beyond any normal range of predictability, the directors believe that in view of the above assessment, the company should be able to operate within the level of its financial facilities. Accordingly, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis in preparing these financial statements.

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

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 are 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 (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1 July 2019

and 30 June 2020

1,500

1,524

3,024

DEPRECIATION

At 1 July 2019

500

305

805

Charge for year

500

381

881

At 30 June 2020

1,000

686

1,686

NET BOOK VALUE

At 30 June 2020

500

838

1,338

At 30 June 2019

1,000

1,219

2,219

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

500

At 30 June 2020

500

NET BOOK VALUE

At 30 June 2020

500

At 30 June 2020 the company held shareholdings in the following subsidiaries, all of which are incorporated in England & Wales and share their registered office with this company.

Name

Country of

Class of

Percentage

Nature of

incorporation

shares

held

business

Raven St John Limited

UK

Ordinary £1

100%

Dormant

CHR Developments (Two) Limited

UK

Ordinary £1

100%

Dormant

CHR Developments (Three) Limited

UK

Ordinary £1

100%

Dormant

CHR Developments (Four) Limited

UK

Ordinary £1

100%

Dormant

CHR Developments (Five) Limited

UK

Ordinary £1

100%

Dormant

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

1,879

Amounts owed by group undertakings

2,243,029

1,973,281

VAT

4,217

144,543

Prepayments and accrued income

8,725

3,801

2,255,971

2,123,504

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

13,877

8,101

Amounts owed to group undertakings

1,126,285

2,025,067

Amounts owed to related undertakings

999,194

1,484,194

Tax

54,956

27,864

Other creditors

848,000

108,000

Director's current account

422,209

9,300

Accruals and deferred income

24,554

212,782

3,489,075

3,875,308

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

108,000

216,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Other creditors

216,000

324,000

The security for this debt is a legal mortgage over all the land in the company, registered under title number NYK256326.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

700

Ordinary

£1

700

700

11.	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.