REGISTERED NUMBER: |
CHILFEN JOINERY LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
REGISTERED NUMBER: |
CHILFEN JOINERY LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
CHILFEN JOINERY LIMITED (REGISTERED NUMBER: 01925576) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
Page |
Company information | 1 |
Abridged statement of financial position | 2 | to | 3 |
Notes to the financial statements | 4 | to | 8 |
CHILFEN JOINERY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Chartered Accountants and Statutory Auditors |
Richmond House |
Walkern Road |
Stevenage |
Hertfordshire |
SG1 3QP |
CHILFEN JOINERY LIMITED (REGISTERED NUMBER: 01925576) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
28TH FEBRUARY 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Property, plant and equipment | 6 |
CURRENT ASSETS |
Inventories |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
CHILFEN JOINERY LIMITED (REGISTERED NUMBER: 01925576) |
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
28TH FEBRUARY 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CHILFEN JOINERY LIMITED (REGISTERED NUMBER: 01925576) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
1. | STATUTORY INFORMATION |
Chilfen Joinery Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
No significant judgements or estimates have had to be made by the directors in preparing these financial statements. |
Revenue |
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other direct taxes made during the year. |
Revenue recognition |
Revenue is recognised when goods have been delivered or services supplied to customers such that risks and rewards of ownership have transferred to them. |
Goodwill |
Goodwill, being the amounts paid in connection with businesses in 2019 and 2022, are being amortised evenly over their estimated useful economic lives of five years respectively. |
Property, plant and equipment |
Land and buildings | - |
Plant and machinery etc | - |
Inventories |
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the average cost method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
CHILFEN JOINERY LIMITED (REGISTERED NUMBER: 01925576) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
3. | ACCOUNTING POLICIES - continued |
Tax |
Tax 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 tax 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. |
Deferred tax |
Deferred tax is recognised in respect of all material 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 the income statement 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 the income statement in the period to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CHILFEN JOINERY LIMITED (REGISTERED NUMBER: 01925576) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
5. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
Cost |
At 1st March 2022 |
and 28th February 2023 |
Amortisation |
At 1st March 2022 |
Amortisation for year |
At 28th February 2023 |
Net book value |
At 28th February 2023 |
At 28th February 2022 |
6. | PROPERTY, PLANT AND EQUIPMENT |
Totals |
£ |
Cost |
At 1st March 2022 |
Additions |
Disposals | ( |
) |
At 28th February 2023 |
Depreciation |
At 1st March 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 28th February 2023 |
Net book value |
At 28th February 2023 |
At 28th February 2022 |
CHILFEN JOINERY LIMITED (REGISTERED NUMBER: 01925576) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
7. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 209,679 | 90,070 |
The ultimate holding company, Wiltonsign Properties Limited, has provided cross guarantees in respect of the company's banking facilities. |
Amounts due under hire purchase contracts are secured against the assets concerned. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1,400 | 1,400 |
Ordinary A | £1 | 300,000 | 300,000 |
301,400 | 301,400 |
CHILFEN JOINERY LIMITED (REGISTERED NUMBER: 01925576) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY TRANSACTIONS |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Rent was paid in the year to the ultimate holding company amounting to £179,108 (2021: £133,452). |
12. | PARENT RELATIONSHIPS |
The parent undertaking is Chilfen Export Packaging Limited, a company incorporated in England and Wales at Unit 1 Flint Road, Letchworth Garden City, Hertfordshire, SG6 1HJ. The ultimate holding company is Wiltonsign Properties Limited, a company incorporated in England and Wales at 5 Yeomans Court, Ware Road, Hertford, Hertfordshire, SG13 7HJ. |
The smallest and largest group financial statements in which the results of the company are included are available from 5 Yeomans Court, Ware Road, Hertford, Hertfordshire, SG13 7HJ. |