Chalford Building Supplies Ltd - Accounts to registrar (filleted) - small 23.2.5
Chalford Building Supplies Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
| FOR |
| CHALFORD BUILDING SUPPLIES LTD |
| CHALFORD BUILDING SUPPLIES LTD (REGISTERED NUMBER: 01162203) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CHALFORD BUILDING SUPPLIES LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chargrove House |
| Shurdington Road |
| Cheltenham |
| Gloucestershire |
| GL51 4GA |
| CHALFORD BUILDING SUPPLIES LTD (REGISTERED NUMBER: 01162203) |
| BALANCE SHEET |
| 31 DECEMBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| CHALFORD BUILDING SUPPLIES LTD (REGISTERED NUMBER: 01162203) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2022 |
| 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 |
| CHALFORD BUILDING SUPPLIES LTD (REGISTERED NUMBER: 01162203) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 1. | STATUTORY INFORMATION |
| Chalford Building Supplies Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Accounting convention |
| Turnover |
| Revenue is the value of goods (net of VAT) provided to customers during the year. |
| Where payments are received from customers in advance of goods supplied, the amounts are recorded as payments in advance as part of creditors due within one year. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Showroom fixtures and fittings are transferred to stock at the lower of net book value and net realisable value when they are to be sold as ex display items. |
| Financial instruments |
| Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. |
| 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. |
| CHALFORD BUILDING SUPPLIES LTD (REGISTERED NUMBER: 01162203) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund. |
| Provisions |
| Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis. |
| Revaluation policy |
| The directors have adopted the policy to revalue the property every five years providing there have been no significant changes in market conditions that they consider may materially affect the property value. |
| Going concern |
| The directors have considered the risks and issues concerning the company and there are no material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| CHALFORD BUILDING SUPPLIES LTD (REGISTERED NUMBER: 01162203) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2022 |
| DEPRECIATION |
| At 1 January 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| Cost or valuation at 31 December 2022 is represented by: |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| Valuation in 1990 | 288,145 | - | 288,145 |
| Valuation in 1993 | (190,000 | ) | - | (190,000 | ) |
| Valuation in 2005 | 45,670 | - | 45,670 |
| Valuation in 2008 | 680,000 | - | 680,000 |
| Valuation in 2011 | (115,000 | ) | - | (115,000 | ) |
| Valuation in 2015 | 250,462 | - | 250,462 |
| Valuation in 2017 | 16,458 | - | 16,458 |
| Cost | 1,296,672 | 1,109,882 | 2,406,554 |
| 2,272,407 | 1,109,882 | 3,382,289 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 1,296,672 | 982,291 |
| Freehold property was valued on an existing use basis on 12 January 2018 by David James & Partners . |
| CHALFORD BUILDING SUPPLIES LTD (REGISTERED NUMBER: 01162203) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 January 2022 |
| Additions |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation Tax |
| Social security and other taxes |
| VAT | - | 52,903 |
| Other creditors |
| Payments in advance | 32,518 | 24,112 |
| Directors' current accounts | - | 43,250 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts |
| CHALFORD BUILDING SUPPLIES LTD (REGISTERED NUMBER: 01162203) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts | 338,957 | 187,684 |
| Hire purchase items are secured by the assets themselves. |
| Bank loans (mortgages) are secured against the property. |
| Bank of Scotland registered a fixed and floating charge dated 15 May 2006 against the company. Bank of Scotland registered a further fixed and floating charge dated 23 January 2013 against the company. |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| No interest is being charged on the loan and there are no set repayment terms. |