Company No:
Contents
DIRECTOR | R W F Simon |
SECRETARY | R C T Simon |
REGISTERED OFFICE | Ground Floor Blackbrook Gate 1 |
Blackbrook Business Park | |
Taunton | |
TA1 2PX | |
United Kingdom |
COMPANY NUMBER | 06174877 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Blackbrook Gate 1 | |
Blackbrook Business Park | |
Taunton | |
Somerset TA1 2PX |
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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16,063 | 17,422 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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274,683 | 240,224 | |||
Creditors | ||||
Amounts falling due within one year | 6 | (
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Net current assets | 231,099 | 203,523 | ||
Total assets less current liabilities | 247,162 | 220,945 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Share premium account |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Chelston Direct Limited (registered number:
R W F Simon
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Chelston Direct Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The director does, however, recognise the significant and potentially prolonged uncertainty that exists in the UK economy, as a result of the Covid-19 pandemic. Whilst the director believes that the company is well prepared to deal with the potential impacts, from both an operational and financial perspective, he recognises that there can be no certainty in this respect.
Defined contribution schemes
The company contributes to the director's personal pension scheme. The assets of the scheme are held separately from those of the company. The contributions payable are charges to the profit and loss account.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Leasehold improvements |
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Plant and machinery |
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Fixtures and fittings |
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Office equipment |
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Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Going concern, as described in the above accounting policy.
Tangible fixed assets are carried at cost, less accumulated depreciation and any subsequent accumulated impairment loss. This requires an estimation in the depreciation rates used as well as assessment of the ongoing economic contribution of the assets of the company as to whether an indicator of impairment has occurred.
Stocks are carried at the lower of cost and estimated selling price less costs to sell. This requires an estimate of any impairment.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Leasehold improve- ments |
Plant and machinery | Fixtures and fittings | Office equipment | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 June 2021 |
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Additions |
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At 31 May 2022 |
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Accumulated depreciation | |||||||||
At 01 June 2021 |
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Charge for the financial year |
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At 31 May 2022 |
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Net book value | |||||||||
At 31 May 2022 |
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At 31 May 2021 |
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2022 | 2021 | ||
£ | £ | ||
Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Trade creditors |
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Other creditors |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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