Chilton Leisure Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09690574 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022

FOR

CHILTON LEISURE LIMITED

Page

Company Information

1

Report of the Directors

2

Abridged Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mr K C C Elliott

Mr K C Elliott

REGISTERED OFFICE:

Rod and Line Country Park

Lymn Bank

Thorpe St Peter

SKEGNESS

PE24 4PJ

REGISTERED NUMBER:

09690574 (England and Wales)

ACCOUNTANTS:

Smethurst & Co LLP

12 Abbey Road

GRIMSBY

DN32 0HL

BANKERS:

Barclays Bank

LEICESTER

LE87 2BB

The directors present their report with the financial statements of the company for the year ended 30 April 2022.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2021 to the date of this report.

Mr K C C Elliott

Mr K C Elliott

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr K C Elliott - Director

22 January 2023

FIXED ASSETS

Tangible assets

4

396,914

298,099

CURRENT ASSETS

Stocks

26,195

31,295

Debtors

133,913

124,383

Cash at bank

59,485

127,411

219,593

283,089

CREDITORS

Amounts falling due within one year

357,717

412,216

NET CURRENT LIABILITIES

(138,124

)

(129,127

)

TOTAL ASSETS LESS CURRENT LIABILITIES

258,790

168,972

PROVISIONS FOR LIABILITIES

6,841

5,982

NET ASSETS

251,949

162,990

CAPITAL AND RESERVES

Allotted, called up and

fully paid share capital

2

2

Profit and loss account

251,947

162,988

251,949

162,990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 January 2023 and were signed on its behalf by:

Mr K C Elliott - Director

1.	STATUTORY INFORMATION

Chilton Leisure 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 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.

Freehold property

-

2% Straight Line

Long leasehold

-

2% Straight Line

Plant and machinery

-

20% Straight Line

Fixtures and fittings

-

20% Straight Line

Motor vehicles

-

20% Straight Line

Stocks

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

Taxation

Taxation for the year 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 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.

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 year was 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2021

325,465

Additions

115,110

Disposals

(3,750

)

At 30 April 2022

436,825

DEPRECIATION

At 1 May 2021

27,366

Charge for year

12,857

Eliminated on disposal

(312

)

At 30 April 2022

39,911

NET BOOK VALUE

At 30 April 2022

396,914

At 30 April 2021

298,099

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2022 and 30 April 2021:

30.4.22

30.4.21

£

£

Mr K C C Elliott

Balance outstanding at start of year

-

1,000

Amounts advanced

36,430

-

Amounts repaid

-

(1,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,430

-

Mr K C Elliott

Balance outstanding at start of year

40,482

-

Amounts advanced

-

40,482

Amounts repaid

(10,047

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

30,435

40,482

6.	FIRST YEAR ADOPTION

In preparing the accounts, the directors have considered whether in applying the accounting policies required by FRS 102 Section 1A for small companies, the restatement of comparative items was required.

The reserves of the company have reduced by £5,928 on transition to FRS102 Section 1A for small companies.

7.	FRS 102 TRANSITIONAL RELIEF

No exemptions have been taken advantage of.