CHAPPELL_ESTATES_LIMITED - Accounts

CHAPPELL ESTATES LIMITED - Company Information

Print Friendly Version

Company Registration No. 00819465 (England and Wales)

CHAPPELL ESTATES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2014

CHAPPELL ESTATES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

CHAPPELL ESTATES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

10,468,557

6,055,376

Investments

53,000

10,521,557

6,108,376

Current assets

Debtors

375,945

193,334

Cash at bank and in hand

1,055,476

1,768,676

1,431,421

1,962,010

Creditors: amounts falling due within one year

(371,859)

(335,197)

Net current assets

1,059,562

1,626,813

Total assets less current liabilities

11,581,119

7,735,189

Provisions for liabilities

(3,160)

(3,520)

11,577,959

7,731,669

Capital and reserves

Called up share capital

103,000

Revaluation reserve

6,754,226

3,142,455

Profit and loss account

4,720,733

4,486,214

Shareholders' funds

11,577,959

7,731,669

CHAPPELL ESTATES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2014

- 2 -

For the financial year ended 31 October 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 July 2015

RW Chappell OBE

Director

Company Registration No. 00819465

CHAPPELL ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for rental income net of VAT and discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets includes investment properties valued on an open market basis by its directors on 31 October 2014. No depreciation has been charged on the investment properties. This is a departure from the general requirements of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, the treatment adopted in these financial statements is necessary to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Other tangible assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% of written down value

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

CHAPPELL ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2014

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 November 2013

6,101,252

53,000

6,154,252

Additions

837,254

Revaluation

3,608,771

Disposals

(29,569)

At 31 October 2014

10,517,708

53,000

10,570,708

Depreciation

At 1 November 2013

45,876

Charge for the year

3,275

At 31 October 2014

49,151

Net book value

At 31 October 2014

10,468,557

53,000

10,521,557

At 31 October 2013

6,055,376

53,000

6,108,376

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Pell Investment (Chigwell) Limited

England and Wales

Ordinary

100.00

Chappell Estates (2004) Limited

England and Wales

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2014

Principal activity

Pell Investment (Chigwell) Limited

Dormant

46,000

Chappell Estates (2004) Limited

Dormant

7,000

CHAPPELL ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2014

- 5 -

Share capital

2014

2013

Allotted, called up and fully paid

103,000 Ordinary shares of £1 each

103,000

Related party relationships and transactions

The following directors made interest free loans to the company. The movement on these loans is as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

R Chappell OBE

(2,869)

(44,375)

52,709

5,465

Mrs JE Handley

(157,367)

(1,481)

50,000

(108,848)

(160,236)

(45,856)

102,709

(103,383)