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No description of principal activity
2017-08-01
Sage Accounts Production Advanced 2018 Update 1 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
03680610
2017-08-01
2018-07-31
03680610
2018-07-31
03680610
2017-07-31
03680610
2017-07-31
03680610
core:FurnitureFittings
2017-08-01
2018-07-31
03680610
bus:Director3
2017-08-01
2018-07-31
03680610
core:FurnitureFittings
2017-07-31
03680610
core:FurnitureFittings
2018-07-31
03680610
core:WithinOneYear
2018-07-31
03680610
core:WithinOneYear
2017-07-31
03680610
core:ShareCapital
2018-07-31
03680610
core:ShareCapital
2017-07-31
03680610
core:RetainedEarningsAccumulatedLosses
2018-07-31
03680610
core:RestatedAmount
core:RetainedEarningsAccumulatedLosses
2017-07-31
03680610
core:RestatedAmount
2017-07-31
03680610
core:CostValuation
core:Non-currentFinancialInstruments
2018-07-31
03680610
core:Non-currentFinancialInstruments
2018-07-31
03680610
core:Non-currentFinancialInstruments
2017-07-31
03680610
core:FurnitureFittings
2017-07-31
03680610
bus:SmallEntities
2017-08-01
2018-07-31
03680610
bus:AuditExemptWithAccountantsReport
2017-08-01
2018-07-31
03680610
bus:FullAccounts
2017-08-01
2018-07-31
03680610
bus:SmallCompaniesRegimeForAccounts
2017-08-01
2018-07-31
03680610
bus:PrivateLimitedCompanyLtd
2017-08-01
2018-07-31
03680610
core:OfficeEquipment
2017-08-01
2018-07-31
03680610
core:OfficeEquipment
2018-07-31
03680610
core:OfficeEquipment
2017-07-31
03680610
core:KeyManagementPersonnel
2017-08-01
2018-07-31
COMPANY REGISTRATION NUMBER:
03680610
Chaleview Properties Limited |
|
Filleted Unaudited Financial Statements |
|
Chaleview Properties Limited |
|
Statement of Financial Position |
|
31 July 2018
Fixed assets
Tangible assets |
4 |
|
464 |
580 |
Investments |
5 |
|
1,700,001 |
1,700,001 |
|
|
------------ |
------------ |
|
|
1,700,465 |
1,700,581 |
|
|
|
|
|
Current assets
Debtors |
6 |
17,427 |
|
36,201 |
Cash at bank and in hand |
173,008 |
|
189,973 |
|
--------- |
|
--------- |
|
190,435 |
|
226,174 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
43,816 |
|
52,707 |
|
--------- |
|
--------- |
Net current assets |
|
146,619 |
173,467 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
1,847,084 |
1,874,048 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
160,440 |
168,425 |
|
|
------------ |
------------ |
Net assets |
|
1,686,644 |
1,705,623 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
|
125,000 |
125,000 |
Profit and loss account |
|
1,561,644 |
1,580,623 |
|
|
------------ |
------------ |
Shareholders funds |
|
1,686,644 |
1,705,623 |
|
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2018 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
.
Chaleview Properties Limited |
|
Statement of Financial Position (continued) |
|
31 July 2018
These financial statements were approved by the
board of directors
and authorised for issue on
30 April 2019
, and are signed on behalf of the board by:
Company registration number:
03680610
Chaleview Properties Limited |
|
Notes to the Financial Statements |
|
Year ended 31 July 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bramford House, 23 Westfield Park, Bristol, BS6 6LT.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment properties
Investment properties have been revalued by directors at the year end and will be revalued annually in future in accordance with the provisions of FRS 102.
The aggregate surplus or deficit on revaluation is transferred to the profit and loss account.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) No disclosure has been given for the aggregate remuneration of key management personnel.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Provision is made in full for all taxation deferred in respect of timing differences that have originated but not reversed by the balance sheet date, except for timing differences arising on revaluations of fixed assets which are not intended to be sold and gains on disposal of fixed assets which will be rolled over into replacement assets. No provision is made for taxation on permanent differences. Deferred tax assets are recognised to the extent that is more likely than not that they will be recovered.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures & Fittings |
- |
20% reducing balance |
|
Equipment |
- |
20% reducing balance |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 August 2017 and 31 July 2018 |
1,380 |
5,348 |
6,728 |
|
------- |
------- |
------- |
Depreciation |
|
|
|
At 1 August 2017 |
1,318 |
4,830 |
6,148 |
Charge for the year |
12 |
104 |
116 |
|
------- |
------- |
------- |
At 31 July 2018 |
1,330 |
4,934 |
6,264 |
|
------- |
------- |
------- |
Carrying amount |
|
|
|
At 31 July 2018 |
50 |
414 |
464 |
|
------- |
------- |
------- |
At 31 July 2017 |
62 |
518 |
580 |
|
------- |
------- |
------- |
|
|
|
|
5.
Investments
|
Shares in group undertakings |
Other investments other than loans |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 August 2017 and 31 July 2018 |
1 |
1,700,000 |
1,700,001 |
|
---- |
------------ |
------------ |
Impairment |
|
|
|
At 1 August 2017 and 31 July 2018 |
– |
– |
– |
|
---- |
------------ |
------------ |
|
|
|
|
Carrying amount |
|
|
|
At 31 July 2018 |
1 |
1,700,000 |
1,700,001 |
|
---- |
------------ |
------------ |
At 31 July 2017 |
1 |
1,700,000 |
1,700,001 |
|
---- |
------------ |
------------ |
|
|
|
|
The fair value of the freehold investment properties at 31 July 2018 is estimated by the directors to be £1,700,000 (2017 - £1,700,000). The historic aggregate cost of the investment properties, including at valuation, is £792,125 (2017 - £792,125).
The following were subsidiary undertakings of the company:
8/9 St James Parade Management Co Ltd
100%
Aggregate capital and reserves
2018
2017
8-9 St James Parade Management Co. Ltd
(£1,505)
£123
Profit and (loss) for the year
8-9 St James Parade Management Co. Ltd
(£1,628)
£nil
6.
Debtors
|
2018 |
2017 |
|
£ |
£ |
Trade debtors |
3,788 |
15,518 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
12,669 |
19,892 |
Other debtors |
970 |
791 |
|
-------- |
-------- |
|
17,427 |
36,201 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2018 |
2017 |
|
£ |
£ |
Corporation tax |
9,219 |
17,796 |
Other creditors |
34,597 |
34,911 |
|
-------- |
-------- |
|
43,816 |
52,707 |
|
-------- |
-------- |
|
|
|
8.
Related party transactions
The company was under the joint control of the board of directors throughout the current and preceding year. During the year
A J Smith
- a director of the company, received income of £2,500 (2017 - £7,500) from the company as payment in lieu of management services performed on behalf of the company. Each of the five directors received dividends of £12,500 each during the year (2017 - £10,000 each).