Registered number: 08030712 | ||||||||
FOR THE YEAR ENDED 31/05/2023 | ||||||||
Prepared By: | ||||||||
Mike Griffiths & Partners Ltd | ||||||||
Accountants & Registered Auditors | ||||||||
The Yew Tree Inn | ||||||||
High Street | ||||||||
Gresford | ||||||||
Wrexham | ||||||||
LL12 8RF |
Chartered Independent Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/05/2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Shropshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 08030712 | ||||||||
ACCOUNTANTS | ||||||||
Mike Griffiths & Partners Ltd | ||||||||
Accountants & Registered Auditors | ||||||||
The Yew Tree Inn | ||||||||
High Street | ||||||||
Gresford | ||||||||
Wrexham | ||||||||
LL12 8RF |
Chartered Independent Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/05/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Chartered Independent Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Intangible assets | 3 | |||||||||
Tangible assets | 4 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 6 | |||||||||
Cash at bank and in hand | ||||||||||
93,920 | 153,624 | |||||||||
CREDITORS: Amounts falling due within one year | 7 | |||||||||
NET CURRENT LIABILITIES | ( | (128,985) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 8 | 23,703 | 179,457 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Profit and loss account | 206,925 | 139,556 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Chartered Independent Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/05/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. | ||||||||
The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest pound. These financial statements are for the individual entity only. |
1b. Depreciation | ||||||||
Land And Buildings | straight line 0%-10% | |||||||
Fixtures and Fittings | reducing balance 15% | |||||||
Equipment | reducing balance 25% | |||||||
Motor Cars | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Turnover | ||||||||
Turnover is recognised when the render of goods and services can be measured reliably and it is probable that economic benefits will flow to the entity. |
1f. Goodwill | ||||||||
Chartered Independent Limited | ||||||||
1g. Government Grants | ||||||||
Government grants in relation to tangible assets are credited to the profit and loss account over the useful lives of related assets, where as those in relation to expenditure are credited when expenditure is charged to the profit and loss. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 10 | |||||
3. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/06/2022 | 423,710 | 423,710 | ||
At 31/05/2023 | 423,710 | 423,710 | ||
Depreciation | ||||
At 01/06/2022 | 75,647 | 75,647 | ||
For the year | 42,371 | 42,371 | ||
At 31/05/2023 | 118,018 | 118,018 | ||
Net Book Amounts | ||||
At 31/05/2023 | ||||
At 31/05/2022 | ||||
Chartered Independent Limited | ||||||||
4. TANGIBLE FIXED ASSETS | ||||||||||||
Land And | Fixtures | |||||||||||
Buildings | and Fittings | Equipment | Motor Cars | Total | ||||||||
£ | £ | £ | £ | £ | ||||||||
Cost | ||||||||||||
At 01/06/2022 | 35,229 | 47,831 | 79,661 | 56,940 | 219,661 | |||||||
Disposals | - | - | - | (52,440) | (52,440) | |||||||
At 31/05/2023 | 35,229 | 47,831 | 79,661 | 4,500 | 167,221 | |||||||
Depreciation | ||||||||||||
At 01/06/2022 | 1,531 | 22,539 | 53,492 | 24,911 | 102,473 | |||||||
Disposals | - | - | - | (22,943) | (22,943) | |||||||
For the year | 2,875 | 3,794 | 6,542 | 633 | 13,844 | |||||||
At 31/05/2023 | 4,406 | 26,333 | 60,034 | 2,601 | 93,374 | |||||||
Net Book Amounts | ||||||||||||
At 31/05/2023 | 73,847 | |||||||||||
At 31/05/2022 | 117,188 | |||||||||||
Fixed assets included above, which are held under hire purchase and finance leases are motor cars with the net book value of £0 (at 31/05/2022: £29,498) and depreciation charged during the year £0 (year to 31/05/2022: £9,832). | ||||||||||||
5. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Work in progress | ||||||
6. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 70,348 | 79,864 | ||||||
Other debtors | 1,373 | 30,347 | ||||||
Prepayments | 1,832 | 3,047 | ||||||
73,553 | 113,258 | |||||||
Chartered Independent Limited | ||||||||
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
UK corporation tax | 42,266 | 54,632 | ||||||
PAYE control | 15,944 | 4,639 | ||||||
Directors current account | 3,551 | 4,861 | ||||||
Bank loans and overdrafts | 5,578 | 3,129 | ||||||
Lending Crowd loan <1yr | 24,635 | 34,369 | ||||||
Best Practice loan <1yr | 95,882 | 114,327 | ||||||
Bounce back loan <1yr | 11,275 | 9,678 | ||||||
Hire purchase <1yr | - | 5,216 | ||||||
Trade creditors | 8,654 | 15,589 | ||||||
Other creditors | - | 10,526 | ||||||
Accruals | 2,400 | 3,584 | ||||||
Deferred grants | 19,737 | 22,059 | ||||||
229,922 | 282,609 | |||||||
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Lending Crowd loan >1yr | - | 24,635 | ||||||
Best Practice loan >1yr | - | 107,247 | ||||||
Bounce back loan >1yr | 23,703 | 34,376 | ||||||
Hire purchase >1yr | - | 13,199 | ||||||
23,703 | 179,457 | |||||||
Creditors due within one year and after one year include balances outstanding that are secured. A loan in the sum of £95,882 (at 31/05/2022: £221,574) is secured by a charge against the undertakings of the company and a personal guarantee by the director Mr G.B.J Roberts. The hire purchase liability £0 (at 31/05/2022: £18,414) is secured against the assets to which it relates. A loan in the sum of £34,978 (at 31/05/2022: £44,054) in respect of coronavirus business interruption loan scheme is secured by the government. | ||||||||
9. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Deferred taxation | 11,909 | 16,253 | ||||||
11,909 | 16,253 | |||||||
Chartered Independent Limited | ||||||||
10. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
1000 | 1000 | |||||||
1,000 | 1,000 | |||||||
11. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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12. OPERATING LEASES | ||||||||
The total future minimum lease payments under non-cancellable operating leases are £15,832 (at 31/05/2022: £0). | ||||||||