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 | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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15,877 | 16,063 | |||
Current assets | ||||
Stocks |
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Cash at bank and in hand |
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277,610 | 274,683 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current assets | 233,053 | 231,099 | ||
Total assets less current liabilities | 248,930 | 247,162 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 5 |
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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 £.
In light of the current economic situation, both in the UK and globally, impacted by rising energy costs, inflation and general cost of living increases, the director has given consideration to the impact of these issues on the operations and financial position of the company, as well as upon customers and suppliers. The director is satisfied that, having considered no less than 12 months from the date of approval of the financial statements, the issues identified do not present a significant risk to the going concern basis of the company and, therefore, the going concern basis of preparation remains appropriate.
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.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
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.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
2023 | 2022 | ||
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 2022 |
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Additions |
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At 31 May 2023 |
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Accumulated depreciation | |||||||||
At 01 June 2022 |
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Charge for the financial year |
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At 31 May 2023 |
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Net book value | |||||||||
At 31 May 2023 |
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At 31 May 2022 |
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2023 | 2022 | ||
£ | £ | ||
Trade 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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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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