Company Registration No. 08848754 (England and Wales)
Chilton Automotive Ltd
Unaudited accounts
for the year ended 31 January 2018
Chilton Automotive Ltd
Unaudited accounts
Contents
Chilton Automotive Ltd
Company Information
for the year ended 31 January 2018
Company Number
08848754 (England and Wales)
Registered Office
203 West Street
Fareham
Hampshire
PO16 0EN
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
Chilton Automotive Ltd
Statement of financial position
as at
31 January 2018
Tangible assets
9,851
13,134
Cash at bank and in hand
3,415
2,817
Creditors: amounts falling due within one year
(17,962)
(19,706)
Net current liabilities
(2,651)
(9,627)
Total assets less current liabilities
7,200
3,507
Creditors: amounts falling due after more than one year
(3,828)
-
Called up share capital
1
1
Profit and loss account
3,371
3,506
Shareholders' funds
3,372
3,507
For the year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 24 May 2018.
Ben Chilton
Director
Company Registration No. 08848754
Chilton Automotive Ltd
Notes to the Accounts
for the year ended 31 January 2018
Chilton Automotive Ltd is a private company, limited by shares, registered in England and Wales, registration number 08848754. The registered office is 203 West Street, Fareham, Hampshire, PO16 0EN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Chilton Automotive Ltd
Notes to the Accounts
for the year ended 31 January 2018
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
At 1 February 2017
24,742
At 31 January 2018
24,742
At 1 February 2017
11,608
Charge for the year
3,283
At 31 January 2018
14,891
At 31 January 2017
13,134
Finished goods
1,760
1,760
Trade debtors
5,365
2,514
Other debtors
4,771
2,988
7
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
4,000
1,150
Trade creditors
3,512
6,108
Taxes and social security
5,263
4,685
8
Creditors: amounts falling due after more than one year
2018
2017
Taxes and social security
3,828
-
Chilton Automotive Ltd
Notes to the Accounts
for the year ended 31 January 2018
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director loan account
(2,989)
18,394
20,176
(4,771)
(2,989)
18,394
20,176
(4,771)
The controlling party is Ben Chilton.
11
Average number of employees
During the year the average number of employees was 2 (2017: 3).