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REGISTERED NUMBER: 08453986 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

K CHAMBERLAIN & SON LTD

K CHAMBERLAIN & SON LTD (REGISTERED NUMBER: 08453986)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


K CHAMBERLAIN & SON LTD

Company Information
for the year ended 31 March 2023







Directors: Mr I Chamberlain
Mrs J H Chamberlain





Registered office: 21/23 Algitha Road
Skegness
Lincolnshire
PE25 2AG





Registered number: 08453986 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
23 Algitha Road
Skegness
United Kingdom
PE25 2AG

K CHAMBERLAIN & SON LTD (REGISTERED NUMBER: 08453986)

Statement of Financial Position
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 35,838 39,818
Investments 5 18 18
35,856 39,836

Current assets
Stocks 6 229,798 134,452
Debtors 7 19,418 13,468
Cash at bank 476,037 441,096
725,253 589,016
Creditors
Amounts falling due within one year 8 269,914 250,799
Net current assets 455,339 338,217
Total assets less current liabilities 491,195 378,053

Provisions for liabilities 5,158 5,552
Net assets 486,037 372,501

Capital and reserves
Called up share capital 9 100 100
Retained earnings 10 485,937 372,401
Shareholders' funds 486,037 372,501

K CHAMBERLAIN & SON LTD (REGISTERED NUMBER: 08453986)

Statement of Financial Position - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 4 October 2023 and were signed on its behalf by:





Mr I Chamberlain - Director


K CHAMBERLAIN & SON LTD (REGISTERED NUMBER: 08453986)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

K Chamberlain & Son Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 - 10% on reducing balance
Fixtures and fittings - 5% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 1 (2022 - 1 ) .

K CHAMBERLAIN & SON LTD (REGISTERED NUMBER: 08453986)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
Cost
At 1 April 2022
and 31 March 2023 521,176 194,975 226 716,377
Depreciation
At 1 April 2022 481,363 194,971 225 676,559
Charge for year 3,980 - - 3,980
At 31 March 2023 485,343 194,971 225 680,539
Net book value
At 31 March 2023 35,833 4 1 35,838
At 31 March 2022 39,813 4 1 39,818

5. Fixed asset investments
Other
investments
£
Cost
At 1 April 2022
and 31 March 2023 18
Net book value
At 31 March 2023 18
At 31 March 2022 18

6. Stocks
2023 2022
£ £
Valuation 229,798 134,452

7. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 8,105 -
Other debtors 3,750 3,750
VAT 213 2,298
Prepayments 7,350 7,420
19,418 13,468

K CHAMBERLAIN & SON LTD (REGISTERED NUMBER: 08453986)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 79,862 56,335
Corporation tax 27,026 25,458
Social security and other taxes 594 -
Directors' current accounts 162,432 169,006
269,914 250,799

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 ordinary £1 100 100

10. Reserves
Retained
earnings
£

At 1 April 2022 372,401
Profit for the year 113,536
At 31 March 2023 485,937

11. Related party disclosures

Mrs J H Chamberlain
Director


Directors current account 2023 2022

Balance at the start of the year (74,648 ) (75,699 )
Amounts advanced 2125 1,051
Amounts repaid
Balance at the end of the year (72,523 ) (74,648 )


Mr I Chamberlain
Director


Directors current account 2023 2022

Balance at the start of the year (94,358 ) (97,817 )
Amounts advanced 4,449 3,459
Amounts repaid
Balance at the end of the year (89,909 ) (94,358 )

Received from the company £38,498 (2022 £22,295) in rent for land farmed during the year. No amounts were outstanding at the year end.

K CHAMBERLAIN & SON LTD (REGISTERED NUMBER: 08453986)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


12. Ultimate controlling party

The controlling party is Mr I Chamberlain and Mrs J H Chamberlain .