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The Union Chiswick Limited

Annual Report and Unaudited Financial Statements
Period from 17 February 2021 to 13 February 2022

Registration number: 06170850

 

The Union Chiswick Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Union Chiswick Limited

Company Information

Directors

Mr E D Guinness

Mr M B W Jacomb

Mr W J H Spooner

Company secretary

Mr E D Guinness

Registered office

Building 5
Chiswick Park
566 Chiswick High Road
London
W4 5YA

Accountants

Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire
SP3 4UF

 

The Union Chiswick Limited

Balance Sheet

13 February 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

195,637

215,877

Current assets

 

Stocks

14,428

12,026

Debtors

5

41,027

107,053

Cash at bank and in hand

 

46,012

117,005

 

101,467

236,084

Creditors: Amounts falling due within one year

6

(440,276)

(433,416)

Net current liabilities

 

(338,809)

(197,332)

Total assets less current liabilities

 

(143,172)

18,545

Provisions for liabilities

(18,112)

(16,342)

Net (liabilities)/assets

 

(161,284)

2,203

Capital and reserves

 

Called up share capital

10,000

10,000

Share premium reserve

340,020

340,020

Profit and loss account

(511,304)

(347,817)

Shareholders' (deficit)/funds

 

(161,284)

2,203

 

The Union Chiswick Limited

Balance Sheet

13 February 2022

For the financial period ending 13 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 July 2022 and signed on its behalf by:
 

.........................................
Mr E D Guinness
Company secretary and director

   
     

Company Registration Number: 06170850

 

The Union Chiswick Limited

Notes to the Unaudited Financial Statements

Period from 17 February 2021 to 13 February 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Building 5
Chiswick Park
566 Chiswick High Road
London
W4 5YA

These financial statements were authorised for issue by the Board on 26 July 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including Section 1A, and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have considered the impact of COVID-19. Despite a large drop in trading activities, the directors are of the opinion that the company has received sufficient support from its parent company and the government in order to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grant income is accounted for on an accruals basis.

 

The Union Chiswick Limited

Notes to the Unaudited Financial Statements

Period from 17 February 2021 to 13 February 2022

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leaseholds

5% Straight Line Basis

Fixtures and Fittings

15% Reducing Balance Basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

The Union Chiswick Limited

Notes to the Unaudited Financial Statements

Period from 17 February 2021 to 13 February 2022

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 12 (2021 - 10).

 

The Union Chiswick Limited

Notes to the Unaudited Financial Statements

Period from 17 February 2021 to 13 February 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 17 February 2021

276,384

282,118

558,502

Additions

-

16,685

16,685

At 13 February 2022

276,384

298,803

575,187

Depreciation

At 17 February 2021

148,890

193,735

342,625

Charge for the period

7,650

29,275

36,925

At 13 February 2022

156,540

223,010

379,550

Carrying amount

At 13 February 2022

119,844

75,793

195,637

At 16 February 2021

127,494

88,383

215,877

Included within the net book value of land and buildings above is £119,844 (2021 - £127,494) in respect of long leasehold land and buildings.
 

5

Debtors

2022
£

2021
£

Prepayments

25,203

21,689

Other debtors

15,824

85,364

41,027

107,053

 

The Union Chiswick Limited

Notes to the Unaudited Financial Statements

Period from 17 February 2021 to 13 February 2022

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

53,961

56,233

Taxation and social security

17,962

13,731

Other creditors

355,309

351,571

Accruals and deferred income

13,044

11,881

440,276

433,416