Charterage Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07644781 (England and Wales)

CHARTERAGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2018 TO 30 OCTOBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

P A Dabner

M Dabner

REGISTERED OFFICE:

St Ledger House 112 London Road

Southborough

Tunbridge Wells

TN4 0PN

REGISTERED NUMBER:

07644781 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Tangible assets

4

17,352

27,660

CURRENT ASSETS

Stocks

603,000

-

Debtors

5

1,760,179

1,395,430

Cash at bank and in hand

10,390

5,432

2,373,569

1,400,862

CREDITORS

Amounts falling due within one year

6

(1,399,738

)

(1,210,139

)

NET CURRENT ASSETS

973,831

190,723

TOTAL ASSETS LESS CURRENT LIABILITIES

991,183

218,383

CREDITORS

Amounts falling due after more than one year

7

(907,300

)

(148,955

)

NET ASSETS

83,883

69,428

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

83,880

69,425

83,883

69,428

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2021 and were signed on its behalf by:

P A Dabner - Director

1.	STATUTORY INFORMATION

Charterage Limited is a private 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2018

53,000

Additions

1,276

At 30 October 2019

54,276

DEPRECIATION

At 1 November 2018

25,340

Charge for period

11,584

At 30 October 2019

36,924

NET BOOK VALUE

At 30 October 2019

17,352

At 31 October 2018

27,660

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

1,229,234

490,087

Sundry debtors

46,201

20,599

Prepayments and accrued income

484,744

884,744

1,760,179

1,395,430

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

15,599

21,907

Trade creditors

27,890

39,980

Corporation Tax

5,831

11,600

VAT

29,542

40,543

Sundry creditors

969,002

1,076,464

Directors' current accounts

323,374

13,145

Accrued expenses

28,500

6,500

1,399,738

1,210,139

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans more 5 yr by instal

388,295

148,955

Sundry creditors

519,005

-

907,300

148,955

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

388,295

148,955

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Charterage Limited for the period ended 30 October 2019 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Charterage Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Charterage Limited and state those matters that we have agreed to state to the Board of Directors of Charterage Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Charterage Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Charterage Limited. You consider that Charterage Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Charterage Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

25 February 2021