S.F. Chapman & Son (Hastings) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00755160 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

S.F. CHAPMAN & SON (HASTINGS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Simnett

A J Simnett

SECRETARY:

A J Simnett

REGISTERED OFFICE:

61 Harley Shute Road

St Leonards on Sea

East Sussex

TN38 8BY

REGISTERED NUMBER:

00755160 (England and Wales)

BANKERS:

Barclays Bank PLC

Hanover House

Marine Court

St Leonards on Sea

East Sussex

TN38 0DX

FIXED ASSETS

Tangible assets

4

5,515

7,348

CURRENT ASSETS

Stocks

500

500

Debtors

5

2,960

3,465

Cash at bank

21,188

18,944

24,648

22,909

CREDITORS

Amounts falling due within one year

6

(8,039

)

(16,524

)

NET CURRENT ASSETS

16,609

6,385

TOTAL ASSETS LESS CURRENT LIABILITIES

22,124

13,733

PROVISIONS FOR LIABILITIES

7

(1,379

)

(1,396

)

NET ASSETS

20,745

12,337

CAPITAL AND RESERVES

Called up share capital

8

4

4

Retained earnings

20,741

12,333

SHAREHOLDERS' FUNDS

20,745

12,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 20 July 2022 and were signed on its behalf by:

D Simnett - Director

1.	STATUTORY INFORMATION

S.F. Chapman & Son (Hastings) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents the fair value of consideration received or receivable net of VAT and trade discounts. Revenue from the sale of electrical contracting services is recognised at the point of sale.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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

Plant & machinery

-

15% reducing balance

Fixtures & fittings

-

25% reducing balance

Motor vehicles

-

25% reducing balance

Computer equipment

-

25% reducing balance

Government grants

Grants that relate to income are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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.

Impairment policy

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2021

and 31 March 2022

1,472

17,995

2,357

21,824

DEPRECIATION

At 1 April 2021

1,427

10,871

2,178

14,476

Charge for year

7

1,781

45

1,833

At 31 March 2022

1,434

12,652

2,223

16,309

NET BOOK VALUE

At 31 March 2022

38

5,343

134

5,515

At 31 March 2021

45

7,124

179

7,348

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

2,960

3,465

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

1,354

1,318

Taxation and social security

4,219

5,120

Other creditors

2,466

10,086

8,039

16,524

7.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

1,379

1,396

Deferred

tax

£

Balance at 1 April 2021

1,396

Accelerated capital allowances

(17

)

Balance at 31 March 2022

1,379

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

8

Ordinary

50p

4

4