Charlton Baker Limited 31/03/2021 iXBRL

CHARLTON BAKER LIMITED - Company Information

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Company registration number: 07179787

Charlton Baker Limited

Unaudited filleted financial statements

31 March 2021

Charlton Baker Limited

Contents

Directors and other information

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Charlton Baker Limited

Directors and other information


	Directors	Mr S J Sartin
		Mr S A Little
		Mr E C Cargill


	Company number	07179787


	Registered office	7-7c Snuff Street
		Devizes
		Wiltshire
		SN10 1DU


	Business address	7-7c Snuff Street
		Devizes
		Wiltshire
		SN10 1DU

Charlton Baker Limited

Statement of financial position

31 March 2021

		2021		2020
	Note	£	£	£	£

Fixed assets
Intangible assets	5	185,531		232,615
Tangible assets	6	56,234		60,733
Investments	7	244,860		216,860
		_______		_______
			486,625		510,208

Current assets
Debtors	8	196,652		235,601
Cash at bank and in hand		305,016		51,289
		_______		_______
		501,668		286,890
Creditors: amounts falling due
within one year	9	( 585,714)		( 447,656)
		_______		_______
Net current liabilities			( 84,046)		( 160,766)
			_______		_______
Total assets less current liabilities			402,579		349,442

Creditors: amounts falling due
after more than one year	10		( 311,250)		( 175,810)

Provisions for liabilities			( 10,684)		( 11,539)

			_______		_______
Net assets			80,645		162,093
			_______		_______

Capital and reserves
Called up share capital			315		110,315
Profit and loss account			80,330		51,778
			_______		_______
Shareholders funds			80,645		162,093
			_______		_______

For the year ending 31 March 2021 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 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 Section 1A of 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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 20 December 2021 , and are signed on behalf of the board by:

Mr S J Sartin

Director

Company registration number: 07179787

Charlton Baker Limited

Statement of changes in equity

Year ended 31 March 2021

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 April 2019	110,315	99,069	209,384

Profit for the year		186,493	186,493
	_______	_______	_______
Total comprehensive income for the year	-	186,493	186,493

Dividends paid and payable		( 233,784)	( 233,784)
	_______	_______	_______
Total investments by and distributions to owners	-	( 233,784)	( 233,784)

	_______	_______	_______
At 31 March 2020 and 1 April 2020	110,315	51,778	162,093

Profit for the year		247,716	247,716
	_______	_______	_______
Total comprehensive income for the year	-	247,716	247,716

Dividends paid and payable		( 219,164)	( 219,164)
Redemption of shares	( 110,000)	-	( 110,000)
	_______	_______	_______
Total investments by and distributions to owners	( 110,000)	( 219,164)	( 329,164)

	_______	_______	_______
At 31 March 2021	315	80,330	80,645
	_______	_______	_______

Charlton Baker Limited

Notes to the financial statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7-7c Snuff Street, Devizes, Wiltshire, SN10 1DU.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.

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.

Turnover

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	10 %	straight line
Combined other intangible assets	-	10 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:


Fittings fixtures and equipment	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset 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.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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 in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 27 (2020: 28 ).

5. Intangible assets

	Goodwill	Other intangible assets	Total
	£	£	£
Cost
At 1 April 2020 and 31 March 2021	110,000	498,337	608,337
	_______	_______	_______
Amortisation
At 1 April 2020	68,750	306,972	375,722
Charge for the year	8,250	38,834	47,084
	_______	_______	_______
At 31 March 2021	77,000	345,806	422,806
	_______	_______	_______
Carrying amount
At 31 March 2021	33,000	152,531	185,531
	_______	_______	_______
At 31 March 2020	41,250	191,365	232,615
	_______	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 April 2020	170,805	170,805
Additions	10,349	10,349
	_______	_______
At 31 March 2021	181,154	181,154
	_______	_______
Depreciation
At 1 April 2020	110,072	110,072
Charge for the year	14,848	14,848
	_______	_______
At 31 March 2021	124,920	124,920
	_______	_______
Carrying amount
At 31 March 2021	56,234	56,234
	_______	_______
At 31 March 2020	60,733	60,733
	_______	_______

7. Investments

	Other investments other than loans	Total
	£	£
Cost
At 1 April 2020	216,860	216,860
Additions	28,000	28,000
	_______	_______
At 31 March 2021	244,860	244,860
	_______	_______
Impairment
At 1 April 2020 and 31 March 2021	-	-
	_______	_______
Carrying amount
At 31 March 2021	244,860	244,860
	_______	_______
At 31 March 2020	216,860	216,860
	_______	_______

8. Debtors

	2021	2020
	£	£
Trade debtors	183,118	230,735
Other debtors	13,534	4,866
	_______	_______
	196,652	235,601
	_______	_______

9. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	83,394	42,524
Trade creditors	36,756	18,060
Amounts owed to group undertakings and undertakings in which the company has a participating interest	124,500	124,500
Social security and other taxes	224,512	145,030
Other creditors	116,552	117,542
	_______	_______
	585,714	447,656
	_______	_______

Creditors: amounts falling due within one year The total amount of creditors for which security has been given amounted to £83,000 (2020: £42, 168).

10. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	311,250	175,810
	_______	_______

Creditors: amounts falling due after more than one year The total amount of creditors for which security has been given amounted to £311,250 (2020: £175, 810). Net obligations under bank loans are secured by the directors.