Chichester Bond Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05885824 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

CHICHESTER BOND LIMITED

Page

Balance Sheet

1

FIXED ASSETS

8,864

-

CURRENT ASSETS

221,619

235,172

PREPAYMENTS AND ACCRUED INCOME

2,074

-

CREDITORS

Amounts falling due within one year

(79,312

)

(204,844

)

NET CURRENT ASSETS

144,381

30,328

TOTAL ASSETS LESS CURRENT LIABILITIES

153,245

30,328

CAPITAL AND RESERVES

153,245

30,328

NOTES TO THE FINANCIAL STATEMENTS

1.	STATUTORY INFORMATION

Chichester Bond Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05885824

Registered office:

Unit 3 Crompton Way

Segensworth West

Fareham

Hampshire

PO15 5SS

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

2.	GOING CONCERN

The director considers it appropriate to prepare these financial statements on a going concern basis.

The company is closely monitored by the director and the after effect of the pandemic on the hospitality industry. The company has seen an increase in trading following the easing of lockdown measures and continues to receive support from its bankers and parent company. In addition, forecasts have been prepared which indicate the company will have sufficient funds to meet its liabilities for at least a period of 12 months after signing of these financial statements. The company has access to cash balances, if required, from associated companies and beneficial owners and is therefore well placed to cover working capital and funding requirements.

3.	AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was 1 (2021 - 2 ) .

4.	OTHER FINANCIAL COMMITMENTS

The company holds a Premises Guarantee to the value of £250,000. This is in relation to the duty value on the duty suspended products stored within the Bonded warehouse. The company's bank acts as a guarantor for the full value and retains a fixed and floating charge against all current and future assets of the company for security. This liability would only crystalise in the event of HMRC deeming it necessary to recoup duty on goods which entered the UK market. There is no evidence of any events this year that would cause crystallisation.

An unlimited multilateral guarantee is in place with Compass Supply Solutions Limited, CSS Group Limited and a related company.

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 13 February 2023 and were signed by:

F R Welkerling - Director