Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31false152021-04-0113falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00185304 2021-04-01 2022-03-31 00185304 2020-04-01 2021-03-31 00185304 2022-03-31 00185304 2021-03-31 00185304 2020-04-01 00185304 c:Director3 2021-04-01 2022-03-31 00185304 d:Buildings 2021-04-01 2022-03-31 00185304 d:Buildings 2022-03-31 00185304 d:Buildings 2021-03-31 00185304 d:Buildings d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 00185304 d:PlantMachinery 2021-04-01 2022-03-31 00185304 d:PlantMachinery 2022-03-31 00185304 d:PlantMachinery 2021-03-31 00185304 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 00185304 d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 00185304 d:CurrentFinancialInstruments 2022-03-31 00185304 d:CurrentFinancialInstruments 2021-03-31 00185304 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00185304 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 00185304 d:ShareCapital 2022-03-31 00185304 d:ShareCapital 2021-03-31 00185304 d:OtherMiscellaneousReserve 2022-03-31 00185304 d:OtherMiscellaneousReserve 2021-03-31 00185304 d:RetainedEarningsAccumulatedLosses 2022-03-31 00185304 d:RetainedEarningsAccumulatedLosses 2021-03-31 00185304 c:FRS102 2021-04-01 2022-03-31 00185304 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 00185304 c:FullAccounts 2021-04-01 2022-03-31 00185304 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 00185304 6 2021-04-01 2022-03-31 00185304 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 00185304 d:AcceleratedTaxDepreciationDeferredTax 2021-03-31 iso4217:GBP xbrli:pure
Registered number: 00185304


CHAPLIN BROS. (BIRMINGHAM) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
REGISTERED NUMBER:00185304

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,502,242
1,282,029

  
1,502,242
1,282,029

Current assets
  

Stocks
  
1,038,554
743,228

Debtors: amounts falling due within one year
 5 
988,548
1,066,844

Current asset investments
 6 
472
1,235

Cash at bank and in hand
  
958,585
700,508

  
2,986,159
2,511,815

Creditors: amounts falling due within one year
 7 
(1,288,215)
(733,729)

Net current assets
  
 
 
1,697,944
 
 
1,778,086

Total assets less current liabilities
  
3,200,186
3,060,115

Provisions for liabilities
  

Deferred tax
 8 
(135,000)
(123,000)

  
 
 
(135,000)
 
 
(123,000)

Net assets
  
3,065,186
2,937,115


Capital and reserves
  

Called up share capital 
  
28,600
28,600

Other reserves
  
9,016
9,016

Profit and loss account
  
3,027,570
2,899,499

  
3,065,186
2,937,115


Page 1

 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
REGISTERED NUMBER:00185304
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr R Hamilton
Director

Date: 12 August 2022

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

Chaplin Bros. (Birmingham) Limited (the company) is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is Reddicap Trading Estate, Sutton Coldfield, West Midlands, B75 7BU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rental income is recognised on a receivable basis.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line and  reducing balance basis methods.

Depreciation is provided on the following basis:

Freehold property
-
5%
straight line
Plant & machinery etc.
-
15%
- 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period under income from current asset investments.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.9

Government grants

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.10

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Page 5

 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2021 - 13).

Page 6

 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


Tangible fixed assets





Freehold property
Plant & machinery etc
Total

£
£
£



Cost or valuation


At 1 April 2021
904,021
1,950,515
2,854,536


Additions
195,816
176,211
372,027


Disposals
-
(9,070)
(9,070)



At 31 March 2022

1,099,837
2,117,656
3,217,493



Depreciation


At 1 April 2021
293,164
1,279,343
1,572,507


Charge for the year on owned assets
35,201
110,470
145,671


Disposals
-
(2,927)
(2,927)



At 31 March 2022

328,365
1,386,886
1,715,251



Net book value



At 31 March 2022
771,472
730,770
1,502,242



At 31 March 2021
610,857
671,172
1,282,029

Included in freehold property is freehold land at valuation of £37,500 (2021: £37,500) which is not depreciated.

Page 7

 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

5.


Debtors

2022
2021
£
£


Trade debtors
971,181
1,061,628

Prepayments and accrued income
17,367
5,216

988,548
1,066,844



6.


Current asset investments

2022
2021
£
£

Listed investments
472
1,235



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
739,539
563,792

Corporation tax
117,300
96,500

Other taxation and social security
127,307
59,105

Other creditors
292,208
2,671

Accruals and deferred income
11,861
11,661

1,288,215
733,729



8.


Deferred taxation




2022
2021


£

£






At beginning of year
123,000
114,000


Charged to profit or loss
12,000
9,000



At end of year
135,000
123,000

Page 8

 
CHAPLIN BROS. (BIRMINGHAM) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
135,000
123,000


9.


Capital commitments


At 31 March 2022 the company had capital commitments as follows:

2022
2021
£
£


Contracted for but not provided in these financial statements
79,300
-


10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £56,035 (2021: £55,059). Contributions totalling £924 (2021: £183) were payable to the fund at the balance sheet date.

 
Page 9