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Company Registration No. 05068318 (England and Wales)
Francis Chambers and Company Limited Unaudited accounts for the year ended 31 May 2023
Francis Chambers and Company Limited Unaudited accounts Contents
Page
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Francis Chambers and Company Limited Company Information for the year ended 31 May 2023
Director
Mr G M Twynham
Secretary
Mrs L M Twynham
Company Number
05068318 (England and Wales)
Registered Office
Limco Works, Taylors Lane Parkgate Rotherham South Yorkshire S62 6EE
Accountants
Red 5 Partnership Ltd Fusion @ Magna Business Centre Magna Way Rotherham South Yorkshire S60 1FE
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Francis Chambers and Company Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
59,283 
67,706 
Current assets
Inventories
61,000 
73,000 
Debtors
172,903 
189,329 
Cash at bank and in hand
3,556 
2,456 
237,459 
264,785 
Creditors: amounts falling due within one year
(190,849)
(213,266)
Net current assets
46,610 
51,519 
Total assets less current liabilities
105,893 
119,225 
Creditors: amounts falling due after more than one year
(63,978)
(47,419)
Provisions for liabilities
Deferred tax
(11,264)
(12,864)
Net assets
30,651 
58,942 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
30,551 
58,842 
Shareholders' funds
30,651 
58,942 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 October 2023 and were signed on its behalf by
Mr G M Twynham Director Company Registration No. 05068318
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Francis Chambers and Company Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Francis Chambers and Company Limited is a private company, limited by shares, registered in England and Wales, registration number 05068318. The registered office is Limco Works, Taylors Lane , Parkgate, Rotherham, South Yorkshire, S62 6EE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
10% reducing balance
Motor vehicles
25% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Francis Chambers and Company Limited Notes to the Accounts for the year ended 31 May 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2022
65,600 
At 31 May 2023
65,600 
Amortisation
At 1 June 2022
65,600 
At 31 May 2023
65,600 
Net book value
At 31 May 2023
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
15,040 
70,962 
42,820 
128,822 
At 31 May 2023
15,040 
70,962 
42,820 
128,822 
Depreciation
At 1 June 2022
1,454 
34,906 
24,756 
61,116 
Charge for the year
301 
3,606 
4,516 
8,423 
At 31 May 2023
1,755 
38,512 
29,272 
69,539 
Net book value
At 31 May 2023
13,285 
32,450 
13,548 
59,283 
At 31 May 2022
13,586 
36,056 
18,064 
67,706 
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Francis Chambers and Company Limited Notes to the Accounts for the year ended 31 May 2023
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
16,767 
18,630 
- Motor vehicles
13,548 
18,065 
6
Inventories
2023 
2022 
£ 
£ 
Work in progress
54,000 
58,000 
Finished goods
7,000 
15,000 
61,000 
73,000 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
111,190 
120,145 
Accrued income and prepayments
6,987 
8,010 
Other debtors
54,726 
61,174 
172,903 
189,329 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
124,747 
142,338 
VAT
20,245 
15,734 
Obligations under finance leases and hire purchase contracts
12,625 
11,728 
Trade creditors
20,891 
28,705 
Taxes and social security
10,717 
13,093 
Other creditors
1,624 
1,668 
190,849 
213,266 
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
59,949 
30,765 
Obligations under finance leases and hire purchase contracts
4,029 
16,654 
63,978 
47,419 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
- 7 -
Francis Chambers and Company Limited Notes to the Accounts for the year ended 31 May 2023
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr G M Twynham
Directors loan account
42,760 
- 
6,448 
36,312 
42,760 
- 
6,448 
36,312 
12
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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