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Registered number: 08030712

Chartered Independent Limited

ACCOUNTS
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
Gavin Barrie Roberts
Edward Dymott
REGISTERED OFFICE
6 Church Street
Wellington
Telford
Shropshire
TF1 1DG
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 Sheet3
Notes To The Accounts4
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 31/05/2023
20232022
Notes££
FIXED ASSETS
Intangible assets3305,692348,063
Tangible assets473,847117,188
379,539465,251
CURRENT ASSETS
Stock20,00020,000
Debtors673,553113,258
Cash at bank and in hand36720,366
93,920153,624
CREDITORS: Amounts falling due within one year7229,922282,609
NET CURRENT LIABILITIES(136,002)(128,985)
TOTAL ASSETS LESS CURRENT LIABILITIES243,537336,266
CREDITORS: Amounts falling due after more than one year823,703179,457
PROVISIONS FOR LIABILITIES AND CHARGES911,90916,253
NET ASSETS207,925140,556
CAPITAL AND RESERVES
Called up share capital101,0001,000
Profit and loss account206,925139,556
SHAREHOLDERS' FUNDS207,925140,556
For the year ending 31/05/2023 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 30/10/2023 and signed on their behalf by
.............................
Gavin Barrie Roberts
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
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land And Buildingsstraight line 0%-10%
Fixtures and Fittingsreducing balance 15%
Equipmentreducing balance 25%
Motor Carsreducing 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
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 10 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.

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
20232022
No.No.
Average number of employees1110
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/06/2022423,710423,710
At 31/05/2023423,710423,710
Depreciation
At 01/06/202275,64775,647
For the year42,37142,371
At 31/05/2023118,018118,018
Net Book Amounts
At 31/05/2023305,692305,692
At 31/05/2022348,063348,063

Chartered Independent Limited

4. TANGIBLE FIXED ASSETS
Land AndFixtures
Buildingsand FittingsEquipmentMotor CarsTotal
£££££
Cost
At 01/06/202235,22947,83179,66156,940219,661
Disposals---(52,440)(52,440)
At 31/05/202335,22947,83179,6614,500167,221
Depreciation
At 01/06/20221,53122,53953,49224,911102,473
Disposals---(22,943)(22,943)
For the year2,8753,7946,54263313,844
At 31/05/20234,40626,33360,0342,60193,374
Net Book Amounts
At 31/05/202330,82321,49819,6271,89973,847
At 31/05/202233,69825,29226,16932,029117,188
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 20232022
££
Stock comprises:
Work in progress20,00020,000
20,00020,000
6. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors70,34879,864
Other debtors1,37330,347
Prepayments1,8323,047
73,553113,258

Chartered Independent Limited

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax42,26654,632
PAYE control15,9444,639
Directors current account3,5514,861
Bank loans and overdrafts5,5783,129
Lending Crowd loan <1yr24,63534,369
Best Practice loan <1yr95,882114,327
Bounce back loan <1yr11,2759,678
Hire purchase <1yr-5,216
Trade creditors8,65415,589
Other creditors -10,526
Accruals2,4003,584
Deferred grants19,73722,059
229,922282,609
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Lending Crowd loan >1yr -24,635
Best Practice loan >1yr-107,247
Bounce back loan >1yr23,70334,376
Hire purchase >1yr-13,199
23,703179,457
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 20232022
££
Deferred taxation11,90916,253
11,90916,253

Chartered Independent Limited

10. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
1000 Ordinary shares of £1 each10001000
1,0001,000
11. RELATED PARTY TRANSACTIONS
At 31/05/2023 the company owed a director £3,551 (at 31/05/2022 £4,861). No interest was payable on the loan during the year, which is repayable on demand and classified under creditors falling due within one year.
At 31/05/2023 the sum of £0 (at 31/05/2022: £9,256) was due to Howell Shone Independent Financial Advisers Limited, a company which Mr G.B.J Roberts was a director and shareholder of. No interest was payable on the loan during the year, and the loan is repayable on demand.
At 31/05/2023 the sum of £0 (at 31/05/2022: £30,066) was due from Chartered Trust Solutions Limited, a company which Mr G.B.J Roberts is a director and shareholder of. No interest was paid on the loan during the year, and the loan is repayable on demand.
12. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are £15,832 (at 31/05/2022: £0).