IRIS Accounts Production v23.2.0.158 06378753 director 1.4.22 31.3.23 31.3.23 false true false false false true false Ordinary 1.00000 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure063787532022-03-31063787532023-03-31063787532022-04-012023-03-31063787532021-03-31063787532021-04-012022-03-31063787532022-03-3106378753ns16:EnglandWales2022-04-012023-03-3106378753ns15:PoundSterling2022-04-012023-03-3106378753ns11:Director12022-04-012023-03-3106378753ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3106378753ns11:SmallEntities2022-04-012023-03-3106378753ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3106378753ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3106378753ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3106378753ns11:FullAccounts2022-04-012023-03-310637875312022-04-012023-03-3106378753ns11:OrdinaryShareClass12022-04-012023-03-3106378753ns11:CompanySecretary12022-04-012023-03-3106378753ns11:RegisteredOffice2022-04-012023-03-3106378753ns6:CurrentFinancialInstruments2023-03-3106378753ns6:CurrentFinancialInstruments2022-03-3106378753ns6:ShareCapital2023-03-3106378753ns6:ShareCapital2022-03-3106378753ns6:RetainedEarningsAccumulatedLosses2023-03-3106378753ns6:RetainedEarningsAccumulatedLosses2022-03-3106378753ns6:NetGoodwill2022-04-012023-03-3106378753ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106378753ns6:NetGoodwill2022-03-3106378753ns6:NetGoodwill2023-03-3106378753ns6:NetGoodwill2022-03-3106378753ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-3106378753ns6:PlantMachinery2022-03-3106378753ns6:FurnitureFittings2022-03-3106378753ns6:MotorVehicles2022-03-3106378753ns6:ShortLeaseholdAssetsns6:LandBuildings2022-04-012023-03-3106378753ns6:PlantMachinery2022-04-012023-03-3106378753ns6:FurnitureFittings2022-04-012023-03-3106378753ns6:MotorVehicles2022-04-012023-03-3106378753ns6:ShortLeaseholdAssetsns6:LandBuildings2023-03-3106378753ns6:PlantMachinery2023-03-3106378753ns6:FurnitureFittings2023-03-3106378753ns6:MotorVehicles2023-03-3106378753ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-3106378753ns6:PlantMachinery2022-03-3106378753ns6:FurnitureFittings2022-03-3106378753ns6:MotorVehicles2022-03-3106378753ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3106378753ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3106378753ns6:WithinOneYear2023-03-3106378753ns6:WithinOneYear2022-03-3106378753ns6:BetweenOneFiveYears2023-03-3106378753ns6:BetweenOneFiveYears2022-03-3106378753ns6:MoreThanFiveYears2023-03-3106378753ns6:MoreThanFiveYears2022-03-3106378753ns6:AllPeriods2023-03-3106378753ns6:AllPeriods2022-03-3106378753ns11:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 06378753 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CHAPS (SOUTHERN) LIMITED

CHAPS (SOUTHERN) LIMITED (REGISTERED NUMBER: 06378753)

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










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


CHAPS (SOUTHERN) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr N R McLeod





SECRETARY: Mrs A M Simmen





REGISTERED OFFICE: Unit 1
Hernes Farm Estate
Greys Road
Henley-on-Thames
Oxfordshire
RG9 4NT





REGISTERED NUMBER: 06378753 (England and Wales)





ACCOUNTANTS: Seymour Taylor Limited
57 London Road
High Wycombe
Buckinghamshire
HP11 1BS

CHAPS (SOUTHERN) LIMITED (REGISTERED NUMBER: 06378753)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 57,415 69,907
Tangible assets 5 458 687
57,873 70,594

CURRENT ASSETS
Stocks 6 11,440 16,270
Debtors 7 76,833 47,555
Cash at bank and in hand 755,059 553,244
843,332 617,069
CREDITORS
Amounts falling due within one year 8 151,825 134,940
NET CURRENT ASSETS 691,507 482,129
TOTAL ASSETS LESS CURRENT
LIABILITIES

749,380

552,723

PROVISIONS FOR LIABILITIES 87 130
NET ASSETS 749,293 552,593

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 749,292 552,592
SHAREHOLDERS' FUNDS 749,293 552,593

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CHAPS (SOUTHERN) LIMITED (REGISTERED NUMBER: 06378753)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2023 and were signed by:





Mr N R McLeod - Director


CHAPS (SOUTHERN) LIMITED (REGISTERED NUMBER: 06378753)

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


1. STATUTORY INFORMATION

Chaps (Southern) Ltd is a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is Unit 1, Hernes Farm Estate, Greys Road, Henley-on-Thames, Oxfordshire, RG9 4NT. The registered number is 06378753.

The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery Straight line over 4 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


CHAPS (SOUTHERN) LIMITED (REGISTERED NUMBER: 06378753)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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 for the benefit of its employees. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the statement of financial position date as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be reliably estimated. Provisions are recognised as a liability in the statement of financial position and the relevant amount included as an expense in the statement of comprehensive income.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision or contingency is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the statement of comprehensive income in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

CHAPS (SOUTHERN) LIMITED (REGISTERED NUMBER: 06378753)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 250,000
AMORTISATION
At 1 April 2022 180,093
Amortisation for year 12,492
At 31 March 2023 192,585
NET BOOK VALUE
At 31 March 2023 57,415
At 31 March 2022 69,907

Goodwill was purchased by the company upon its acquisition of the trade, assets and liabilities of the business formally known as Chaps on 1 November 2007.

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 4,436 5,463 20,276 151,400 181,575
Disposals - - (6,633 ) - (6,633 )
At 31 March 2023 4,436 5,463 13,643 151,400 174,942
DEPRECIATION
At 1 April 2022 4,436 5,463 19,589 151,400 180,888
Charge for year - - 229 - 229
Eliminated on disposal - - (6,633 ) - (6,633 )
At 31 March 2023 4,436 5,463 13,185 151,400 174,484
NET BOOK VALUE
At 31 March 2023 - - 458 - 458
At 31 March 2022 - - 687 - 687

6. STOCKS
2023 2022
£    £   
Stocks 11,440 16,270

CHAPS (SOUTHERN) LIMITED (REGISTERED NUMBER: 06378753)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 66,472 37,506
Amounts recoverable on contract 2,811 2,455
Other debtors 7,550 7,594
76,833 47,555

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 25,096 31,669
Taxation and social security 119,011 98,975
Other creditors 7,718 4,296
151,825 134,940

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 12,000 12,000
Between one and five years 10,000 12,000
In more than five years - 10,000
22,000 34,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1