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Registration number: 11683956

The Chiltern Mix Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

The Chiltern Mix Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

The Chiltern Mix Limited

Company Information

Directors

R Smethurst

MJ McNelly

Registered office

14 Progress Business Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

Accountants

AGHS Accounting & Taxation Services Limited
Chartered Accountants
14 Progress Business Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

 

The Chiltern Mix Limited

(Registration number: 11683956)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

-

35,886

Current assets

 

Stocks

6

1,000

36,663

Debtors

7

22,007

51,412

Cash at bank and in hand

 

2,920

13,289

 

25,927

101,364

Creditors: Amounts falling due within one year

8

(174,392)

(220,786)

Net current liabilities

 

(148,465)

(119,422)

Total assets less current liabilities

 

(148,465)

(83,536)

Creditors: Amounts falling due after more than one year

8

(4,392)

(8,907)

Net liabilities

 

(152,857)

(92,443)

Capital and reserves

 

Called up share capital

9

2

2

Share premium reserve

180,010

130,010

Retained earnings

(332,869)

(222,455)

Shareholders' deficit

 

(152,857)

(92,443)

 

The Chiltern Mix Limited

(Registration number: 11683956)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 August 2023 and signed on its behalf by:
 

R Smethurst
Director

 

The Chiltern Mix Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14 Progress Business Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

The principal place of business is:
Heather Barn
Cryers Hill Lane
Widmer End
High Wycombe
Buckinghamshire
HP15 6AA

These financial statements were authorised for issue by the Board on 8 August 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors consider that they have sufficient funds to meet their day-to-day working capital requirements and have indicated their ongoing support of the business through directors' loans. The directors therefore consider it appropriate to prepare the finanical statements on a going concern basis.

Revenue recognition

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. The sales of products are recognised when the significant risks and rewards of ownership of the goods are transferred to the customer and receipt of payment is reasonably assured. This is generally on delivery.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The Chiltern Mix Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Development costs

Development expenditure incurred on a project is capitalised as an intangible asset when the company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the asset and the ability to measure reliably the expenditure during development.

Following initial recognition of the development expenditure as an asset, the cost model is applied requiring the asset to be carried at cost less any accumulated amortisation and accumulated impairment losses. Amortisation of the asset begins when development is complete and the asset is available for use. It is amortised evenly over the period of expected future benefit. During the period of development the asset is tested for impairment annually.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Capitalised development expenditure

10% per annum on a straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

The Chiltern Mix Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

The Chiltern Mix Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Amortisation expense

-

4,526

5

Intangible assets

Capitalised development costs
 £

Total
£

Cost or valuation

At 1 April 2022

45,260

45,260

Disposals

(45,260)

(45,260)

At 31 March 2023

-

-

Amortisation

At 1 April 2022

9,374

9,374

Amortisation eliminated on disposals

(9,374)

(9,374)

At 31 March 2023

-

-

Carrying amount

At 31 March 2023

-

-

At 31 March 2022

35,886

35,886

 

The Chiltern Mix Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Stocks

2023
£

2022
£

Raw materials and consumables

-

5,813

Finished goods and goods for resale

1,000

30,850

1,000

36,663

7

Debtors

2023
£

2022
£

Trade debtors

14,987

43,543

Other debtors

7,020

7,869

22,007

51,412

 

The Chiltern Mix Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

2,257

-

Trade creditors

 

3,036

50,005

Taxation and social security

 

1,318

-

Accruals and deferred income

 

3,404

6,404

Other creditors

 

164,377

164,377

 

174,392

220,786

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

4,392

8,907

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.00001 each

231,185

2.31

224,733

2.25

         


 

 

The Chiltern Mix Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

4,392

8,907

2023
£

2022
£

Current loans and borrowings

Bank borrowings

2,257

-

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

-

19,128

Other transactions with directors

The directors provide funds to the company by way of director's loans. There are no set repayment terms for the loans and no interest is charged. At the year end the total balance due to the director's which is included in other creditors, stood at £144,377 (2022 - £144,377)