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CHALKWELL PARK MOTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022






CHALKWELL PARK MOTORS LIMITED (REGISTERED NUMBER: 08922972)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

CHALKWELL PARK MOTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2022







DIRECTORS: G T Hutchinson
Mrs L M Hutchinson



SECRETARY:



REGISTERED OFFICE: Charter House
103-105 Leigh Road
Leigh on Sea
Essex
SS9 1JL



REGISTERED NUMBER: 08922972 (England and Wales)



ACCOUNTANTS: Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL



BANKERS: Lloyds Bank Plc
77 High Street
Southend-on-Sea
Essex
SS1 1HT

CHALKWELL PARK MOTORS LIMITED (REGISTERED NUMBER: 08922972)

BALANCE SHEET
31ST MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 61,791 93,712
Tangible assets 5 107,823 160,696
Investment property 6 451,923 451,923
621,537 706,331

CURRENT ASSETS
Debtors 7 960 380
Prepayments and accrued income 10,885 2,157
Cash at bank and in hand 38,559 90,005
50,404 92,542
CREDITORS
Amounts falling due within one year 8 307,329 353,708
NET CURRENT LIABILITIES (256,925 ) (261,166 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

364,612

445,165

CREDITORS
Amounts falling due after more than one
year

9

406,650

423,875
NET (LIABILITIES)/ASSETS (42,038 ) 21,290

CHALKWELL PARK MOTORS LIMITED (REGISTERED NUMBER: 08922972)

BALANCE SHEET - continued
31ST MARCH 2022

2022 2021
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Retained earnings (43,039 ) 20,289
SHAREHOLDERS' FUNDS (42,038 ) 21,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th September 2022 and were signed on its behalf by:





G T Hutchinson - Director


CHALKWELL PARK MOTORS LIMITED (REGISTERED NUMBER: 08922972)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022

1. STATUTORY INFORMATION

Chalkwell Park Motors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CHALKWELL PARK MOTORS LIMITED (REGISTERED NUMBER: 08922972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 1 ).

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st April 2021
and 31st March 2022 301,708 7,000 308,708
AMORTISATION
At 1st April 2021 211,496 3,500 214,996
Charge for year 30,171 1,750 31,921
At 31st March 2022 241,667 5,250 246,917
NET BOOK VALUE
At 31st March 2022 60,041 1,750 61,791
At 31st March 2021 90,212 3,500 93,712

CHALKWELL PARK MOTORS LIMITED (REGISTERED NUMBER: 08922972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2021 401,486
Additions 68,029
Disposals (241,675 )
At 31st March 2022 227,840
DEPRECIATION
At 1st April 2021 240,790
Charge for year 42,045
Eliminated on disposal (162,818 )
At 31st March 2022 120,017
NET BOOK VALUE
At 31st March 2022 107,823
At 31st March 2021 160,696

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2021
and 31st March 2022 451,923
NET BOOK VALUE
At 31st March 2022 451,923
At 31st March 2021 451,923

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 960 380

CHALKWELL PARK MOTORS LIMITED (REGISTERED NUMBER: 08922972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 17,117 22,327
Trade creditors 7,297 3,165
Taxation and social security 4,305 18,118
Other creditors 278,610 310,098
307,329 353,708

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2022 2021
£    £   
Bank loans 406,650 423,875

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 317,904 329,647

CHALKWELL PARK MOTORS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
CHALKWELL PARK MOTORS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2022 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL


Date: .............................................