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REGISTERED NUMBER: 07261780 (England and Wales)












A.H. CHEATER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.H. CHEATER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: S Peace
M E Peace
I Steel
R Steel



REGISTERED OFFICE: 122 The Hundred
Romsey
Hampshire
SO51 8BY



REGISTERED NUMBER: 07261780 (England and Wales)



BANKERS: National Westminster Bank plc
27 Market Place
Romsey
Hampshire
SO51 8ZH

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,112,820 1,092,521
1,112,820 1,092,521

CURRENT ASSETS
Stocks 22,225 25,783
Debtors 6 163,991 181,361
Cash at bank and in hand 1,070,483 1,050,588
1,256,699 1,257,732
CREDITORS
Amounts falling due within one year 7 (548,092 ) (499,206 )
NET CURRENT ASSETS 708,607 758,526
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,821,427

1,851,047

CREDITORS
Amounts falling due after more than one
year

8

(794,240

)

(864,755

)

PROVISIONS FOR LIABILITIES (30,351 ) (37,346 )
NET ASSETS 996,836 948,946

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 996,736 948,846
996,836 948,946

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

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

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

BALANCE SHEET - continued
31 MAY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





M E Peace - Director


A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

A.h. Cheater 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 FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the value of services provided to the extent that there is a right to consideration and is recorded at the value of the consideration due.

The right to consideration is determined based on the date a funeral takes place.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated impairment losses. Goodwill is considered to have a finite useful life and is now fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Short leasehold - 5% on cost
Fixtures and fittings - 15% Reducing balance
Motor vehicles - 25% Reducing balance
Computer equipment - Straight line over 4 years

The directors ensure the freehold property is maintained sufficiently in order that there is no diminution in its value.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 1,800,000
AMORTISATION
At 1 June 2022
and 31 May 2023 1,800,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and
property leasehold fittings
£    £    £   
COST
At 1 June 2022 678,521 219,141 75,971
Additions 684 67,530 7,836
Disposals - - (2,214 )
At 31 May 2023 679,205 286,671 81,593
DEPRECIATION
At 1 June 2022 - 94,789 45,594
Charge for year - 11,517 5,612
Eliminated on disposal - - (1,898 )
At 31 May 2023 - 106,306 49,308
NET BOOK VALUE
At 31 May 2023 679,205 180,365 32,285
At 31 May 2022 678,521 124,352 30,377

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 451,707 13,424 1,438,764
Additions 30,244 4,077 110,371
Disposals (22,844 ) (6,582 ) (31,640 )
At 31 May 2023 459,107 10,919 1,517,495
DEPRECIATION
At 1 June 2022 192,436 13,424 346,243
Charge for year 70,082 1,020 88,231
Eliminated on disposal (21,319 ) (6,582 ) (29,799 )
At 31 May 2023 241,199 7,862 404,675
NET BOOK VALUE
At 31 May 2023 217,908 3,057 1,112,820
At 31 May 2022 259,271 - 1,092,521

The net book value of tangible fixed assets includes £ 180,734 (2022 - £ 240,979 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 157,117 175,567
Other debtors 6,874 5,794
163,991 181,361

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,079 34,981
Hire purchase contracts (see note 9) 33,552 33,552
Trade creditors 114,135 94,159
Taxation and social security 146,172 109,852
Other creditors 223,154 226,662
548,092 499,206

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 710,359 747,321
Hire purchase contracts (see note 9) 83,881 117,434
794,240 864,755

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 586,045 607,396
586,045 607,396

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 33,552 33,552
Between one and five years 83,881 117,434
117,433 150,986

Non-cancellable operating leases
2023 2022
£    £   
Within one year 6,213 60,551
Between one and five years 6,980 13,193
13,193 73,744

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 741,438 782,302
Hire purchase contracts 117,433 150,986
858,871 933,288

Long term loans are secured by fixed and floating charge over the property of the company.

Hire purchase liabilities are secured against the assets to which they relate.