C & H Antiques Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03303916 (England and Wales)

C & H Antiques Limited

Financial Statements

for the Year Ended 30 June 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W E Cundall

Mrs F B Cundall

SECRETARY:

Mrs F B Cundall

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

03303916 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

75

150

75

150

CURRENT ASSETS

Stocks

3,733,789

3,669,072

Debtors

6

34,032

27,561

Cash at bank

23,661

14,681

3,791,482

3,711,314

CREDITORS

Amounts falling due within one year

7

501,374

828,892

NET CURRENT ASSETS

3,290,108

2,882,422

TOTAL ASSETS LESS CURRENT LIABILITIES

3,290,183

2,882,572

CREDITORS

Amounts falling due after more than one year

8

(33,165

)

(40,639

)

PROVISIONS FOR LIABILITIES

(14

)

(29

)

NET ASSETS

3,257,004

2,841,904

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Retained earnings

3,254,004

2,838,904

SHAREHOLDERS' FUNDS

3,257,004

2,841,904

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 23 March 2023 and were signed on its behalf by:

Mr W E Cundall - Director

Mrs F B Cundall - Director

1.	STATUTORY INFORMATION

C & H Antiques 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 company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Tangible fixed assets are initially recorded at cost.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2021

and 30 June 2022

15,000

AMORTISATION

At 1 July 2021

and 30 June 2022

15,000

NET BOOK VALUE

At 30 June 2022

-

At 30 June 2021

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2021

and 30 June 2022

2,317

1,746

4,063

DEPRECIATION

At 1 July 2021

2,317

1,596

3,913

Charge for year

-

75

75

At 30 June 2022

2,317

1,671

3,988

NET BOOK VALUE

At 30 June 2022

-

75

75

At 30 June 2021

-

150

150

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed by participating interests

17,106

15,497

Directors' current accounts

1,285

-

VAT

11,741

3,439

Prepayments and accrued income

3,900

8,625

34,032

27,561

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

198,071

586,296

Tax

99,121

44,481

Social security and other taxes

963

119

Other creditors

199,571

186,571

Directors' current accounts

-

2,371

Accruals and deferred income

3,648

9,054

501,374

828,892

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

33,165

40,639

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank overdrafts

189,633

576,935

Bank loans

41,603

50,000

231,236

626,935

10.	RELATED PARTY DISCLOSURES