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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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The Three Chimneys Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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for |
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The Three Chimneys Limited |
The Three Chimneys Limited (Registered number: 05690358) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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The Three Chimneys Limited |
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Company Information |
for the Year Ended 31 March 2022 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Bank Chambers |
61 High Street |
Cranbrook |
Kent |
TN17 3EG |
The Three Chimneys Limited (Registered number: 05690358) |
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Balance Sheet |
31 March 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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The Three Chimneys Limited (Registered number: 05690358) |
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Balance Sheet - continued |
31 March 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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The Three Chimneys Limited (Registered number: 05690358) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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The Three Chimneys Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures, fittings & equipment | - |
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Motor vehicles | - |
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Computer equipment | - |
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Government grants |
Coronavirus Job Retention Scheme (CJRS) |
The company has continued to furlough staff during the Covid-19 pandemic and made claims for government furlough grants. The grants are recognised on an accruals basis, matched in the period against the staff costs that they relate to, and recorded as grant income in the accounts. |
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Local Authority Covid Grants |
The company made applications and received payments from the Local Authority for various Coronavirus support grants. These grants have been recognised on an accruals basis for the period that they relate to and have not been deferred in any way. |
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Coronavirus Bounce Back Loan Scheme |
In the previous year, the company received a £50,000 Coronavirus Bounce Back Loan. Under the terms of the loan, the government guaranteed 100% of the loan and there were no fees or interest to pay for the first 12 months. After 12 months, the interest rate is 2.5% per annum and the loan is repayable by equal monthly instalments over 5 years. In the accounts, the initial interest paid by the government has been recognised as grant income and spread evenly over the first 12 months of the loan term. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
The Three Chimneys Limited (Registered number: 05690358) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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The Three Chimneys Limited (Registered number: 05690358) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures, |
to | fittings | Motor | Computer |
property | & equipment | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2021 |
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Additions |
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Disposals |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Other creditors |
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The Three Chimneys Limited (Registered number: 05690358) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.3.22 | 31.3.21 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Other loans more 5yrs |
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8. | SECURED DEBTS |
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Natwest Bank hold a fixed charge over all assets of the company dated 5 February 2016. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.22 | 31.3.21 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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10. | PENSION COMMITMENTS |
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Contributions by the company into the automatic enrolment scheme were £5,912 (2021: £3,792). At the year end employer contributions of £579 (2021: £285) had not been paid over to the pension scheme. |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021: |
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31.3.22 | 31.3.21 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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12. | RELATED PARTY DISCLOSURES |
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During the year, the company paid rent of £48,000 [2021; £11,250] to Mr C Smith, a director of the company. The company also paid rent of £1,000 [2021; £1,000] to Mr C Smith's SIPP in respect of land rented by the company. These transactions are considered to be at arms length for the full market value. |