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REGISTERED NUMBER:
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CHIDDINGFOLD LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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REGISTERED NUMBER:
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CHIDDINGFOLD LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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CHIDDINGFOLD LIMITED (REGISTERED NUMBER: 03742173) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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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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CHIDDINGFOLD LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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CHIDDINGFOLD LIMITED (REGISTERED NUMBER: 03742173) |
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BALANCE SHEET |
31 MAY 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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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 |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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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. |
CHIDDINGFOLD LIMITED (REGISTERED NUMBER: 03742173) |
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BALANCE SHEET - continued |
31 MAY 2017 |
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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 on
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CHIDDINGFOLD LIMITED (REGISTERED NUMBER: 03742173) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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1. | STATUTORY INFORMATION |
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Chiddingfold Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are presented in sterling (£) which is also the functional currency for the |
company. |
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The company transitioned from previously extant UK GAAP to FRS 102 as at 1 June 2015. An |
explanation of how transition to FRS 102 has affected the reported financial position and financial |
performance is given in note 12. |
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Turnover |
Turnover represents net sales of fast food goods, excluding value added tax. |
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Goodwill |
Purchased goodwill is amortised on a straight-line basis over its estimated useful economic life of 20 |
years. |
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Tangible fixed assets |
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Short leasehold | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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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. |
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Taxation |
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the |
current or past reporting periods using tax rates that have been enacted or substantively enacted by |
the reporting date. |
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Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax |
losses and other deferred tax assets are recognised only to the extent that it is probable that they will |
be recovered against future taxable profits or against the reversal of deferred tax liabilities. |
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Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the |
reporting date that are expected to apply to the reversal of the timing difference. |
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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. |
CHIDDINGFOLD LIMITED (REGISTERED NUMBER: 03742173) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Trade and other receivables |
Trade and other receivables are measured at transaction price less any impairment unless the |
arrangement constitutes a financing transaction in which case the transaction is measured at the |
present value of the future receipts discounted at the prevailing market rate of interest . Loans are |
initially measured at fair value and are subsequently measured at amortised cost using the effective |
interest method less any impairment. |
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Trade and other payables |
Trade and other payables are measured at their transaction price unless the arrangement constitutes a |
financing transaction in which case the transaction is measured at present value of future payments |
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
value net of their transaction costs. They are subsequently measured at amortised cost using the |
effective interest method. |
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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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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 June 2016 |
and 31 May 2017 |
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AMORTISATION |
At 1 June 2016 |
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Charge for year |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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CHIDDINGFOLD LIMITED (REGISTERED NUMBER: 03742173) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Motor |
leasehold | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2016 |
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Additions |
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At 31 May 2017 |
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DEPRECIATION |
At 1 June 2016 |
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Charge for year |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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Directors' current accounts | 399 | 399 |
Corporation tax recoverable |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 9) |
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Trade creditors |
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Corporation tax |
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Other taxes and social |
security |
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Other creditors |
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Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 9) |
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CHIDDINGFOLD LIMITED (REGISTERED NUMBER: 03742173) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase |
contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Hire purchase contracts | 29,279 | 37,148 |
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Hire purchase contracts are secured on the assets concerned. |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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At the year end, £399 (2016 - £399) was owed by D J King, director to the company. |
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12. | FIRST YEAR ADOPTION |
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The company transitioned from the previously extant UK GAAP as at 1 June 2015. There were no |
adjustments identified on transition. |