CHILTERN CIRCUITS LTD - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01577113

Unaudited Financial Statements for the Year Ended 31 July 2023

for

CHILTERN CIRCUITS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S M Dear

Mrs V L Dear

SECRETARY:

Mrs V L Dear

REGISTERED OFFICE:

Unit 1

The Old Gas Works

Longwick Road

Princes Risborough

Buckinghamshire

HP27 9HN

REGISTERED NUMBER:

01577113

ACCOUNTANTS:

Main Street Accountancy Limited

Ridge House Annexe

16 Main Ridge West

Boston

Lincolnshire

PE21 6QQ

FIXED ASSETS

Tangible assets

3

2,248

4,498

CURRENT ASSETS

Stocks

2,500

2,500

Debtors

4

36,955

38,500

Cash at bank

76,779

90,320

116,234

131,320

CREDITORS

Amounts falling due within one year

5

60,583

63,291

NET CURRENT ASSETS

55,651

68,029

TOTAL ASSETS LESS CURRENT LIABILITIES

57,899

72,527

PROVISIONS FOR LIABILITIES

1,800

1,800

NET ASSETS

56,099

70,727

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

55,999

70,627

SHAREHOLDERS' FUNDS

56,099

70,727

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 28 March 2024 and were signed on its behalf by:

S M Dear - Director

1.	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.

Plant and Machinery 10% straight line

Fixtures and Fittings 10% straight line

Computer Equipment 33% 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2022

and 31 July 2023

91,528

DEPRECIATION

At 1 August 2022

87,030

Charge for year

2,250

At 31 July 2023

89,280

NET BOOK VALUE

At 31 July 2023

2,248

At 31 July 2022

4,498

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade debtors

26,539

28,084

Other debtors

10,416

10,416

36,955

38,500

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade creditors

12,540

13,090

Taxation and social security

3,802

6,318

Other creditors

44,241

43,883

60,583

63,291