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REGISTERED NUMBER: 01733278 (England and Wales)





















Unaudited Financial Statements for the Year Ended 31 October 2022

for

Chepester Ltd

Chepester Ltd (Registered number: 01733278)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chepester Ltd

Company Information
for the Year Ended 31 October 2022







DIRECTORS: Mr M K Patel
Mr K K Patel
Mr K C Patel
Mrs M K Patel
Mrs D M Patel
Mrs J K Patel





SECRETARY: Mrs D M Patel





REGISTERED OFFICE: 59 May Lane
Hollywood
Birmingham
West Midlands
B47 5PA





REGISTERED NUMBER: 01733278 (England and Wales)






Chepester Ltd (Registered number: 01733278)

Balance Sheet
31 October 2022

31.10.22 31.10.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,245 96,119

CURRENT ASSETS
Stocks 879,986 705,906
Debtors 5 670,783 967,499
Cash at bank and in hand 1,148,945 967,421
2,699,714 2,640,826
CREDITORS
Amounts falling due within one year 6 704,766 674,317
NET CURRENT ASSETS 1,994,948 1,966,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,054,193

2,062,628

PROVISIONS FOR LIABILITIES 9 23,110 25,089
NET ASSETS 2,031,083 2,037,539

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 2,030,983 2,037,439
SHAREHOLDERS' FUNDS 2,031,083 2,037,539

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Chepester Ltd (Registered number: 01733278)

Balance Sheet - continued
31 October 2022


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 17 October 2023 and were signed on its behalf by:




Mr M K Patel - Director



Mr K K Patel - Director


Chepester Ltd (Registered number: 01733278)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

Chepester 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.

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.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
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 balance sheet date.

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.

Chepester Ltd (Registered number: 01733278)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2021 - 55 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2021 552,952
Additions 2,103
Disposals (200,000 )
At 31 October 2022 355,055
DEPRECIATION
At 1 November 2021 456,833
Charge for year 11,777
Eliminated on disposal (172,800 )
At 31 October 2022 295,810
NET BOOK VALUE
At 31 October 2022 59,245
At 31 October 2021 96,119

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Trade debtors 515,726 833,616
Other debtors 155,057 133,883
670,783 967,499

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Bank loans and overdrafts (see note 7) - 3,998
Trade creditors 575,564 464,297
Taxation and social security 20,329 47,542
Other creditors 108,873 158,480
704,766 674,317

7. LOANS

An analysis of the maturity of loans is given below:

31.10.22 31.10.21
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 3,998

Chepester Ltd (Registered number: 01733278)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.22 31.10.21
£    £   
Within one year 22,500 31,000

9. PROVISIONS FOR LIABILITIES
31.10.22 31.10.21
£    £   
Deferred tax 23,110 25,089

Deferred
tax
£   
Balance at 1 November 2021 25,089
Credit to Income Statement during year (1,979 )
Balance at 31 October 2022 23,110

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.10.22 31.10.21
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 November 2021 2,037,439
Deficit for the year (6,456 )
At 31 October 2022 2,030,983

12. RELATED PARTY DISCLOSURES

During the year the company purchased goods in ordinary course of business from Scent Assets at normal commercial rate of £Nil (2021 £17,088) and sold goods to the value of £34,031 (2021 £255,375). Sale ledger balance at 31/10/2022 was £192,275 and other £14,738. (2021 £306,451 and other £14,738) and Purchase ledger balance was £21,599 and other £14,268 (2021 £21,599 and other £1,386).

The company paid a rent of £4,500 to Mr K C Patel, Mr M K Patel and Mr K K Patel in respect of 59 May Lane, Hollywood, Birmingham as part of the property is used by the company.

The company paid a rent of £Nil period from 01/11/2021 to 31/10/2022 to Mr M K Patel and Mr K K Patel in respect of 67 May Lane, Hollywood, Birmingham as part of the property is used by the company for storage of stock. Scent Assets is owned 100% by Mr M K Patel, Mr K K Patel, Mrs D M Patel and Mrs J K Patel who are the directors of the company.

Chepester Ltd (Registered number: 01733278)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

13. ULTIMATE CONTROLLING PARTY

The board directors is the controlling parties.