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REGISTERED NUMBER: 04670299 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

CHAS NORMAN CAMERAS LIMITED

CHAS NORMAN CAMERAS LIMITED (REGISTERED NUMBER: 04670299)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

CHAS NORMAN CAMERAS LIMITED

COMPANY INFORMATION
for the year ended 28 February 2023







DIRECTORS: M C Norman
R F Podbury
D Podbury





SECRETARY: M C Norman





REGISTERED OFFICE: 6 Brewery Lane
Blighs Meadow
Sevenoaks
Kent
TN13 1DF





REGISTERED NUMBER: 04670299 (England and Wales)





ACCOUNTANTS: BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH

CHAS NORMAN CAMERAS LIMITED (REGISTERED NUMBER: 04670299)

BALANCE SHEET
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,399 16,587
Tangible assets 5 824 1,049
2,223 17,636

CURRENT ASSETS
Stocks 130,425 99,213
Debtors 6 3,461 3,390
Cash at bank and in hand 56,120 88,770
190,006 191,373
CREDITORS
Amounts falling due within one year 7 102,117 103,873
NET CURRENT ASSETS 87,889 87,500
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,112

105,136

CREDITORS
Amounts falling due after more than one
year

8

15,000

20,000
NET ASSETS 75,112 85,136

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 65,112 75,136
SHAREHOLDERS' FUNDS 75,112 85,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CHAS NORMAN CAMERAS LIMITED (REGISTERED NUMBER: 04670299)

BALANCE SHEET - continued
28 February 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 Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





M C Norman - Director


CHAS NORMAN CAMERAS LIMITED (REGISTERED NUMBER: 04670299)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 February 2023


1. STATUTORY INFORMATION

Chas Norman Cameras Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is recognised when it is probable that future economic benefits will flow to the company from the sale of goods and services and is measured as the fair value of consideration which the company expects to receive from those transactions. Sales of goods are recognised at the point of sale or on delivery of the goods and when the risks and rewards of ownership have passed to the customer. Revenue from services is recognised when the services are provided.

Revenue from internet sales is recognised at the point when the goods are despatched to the customer.

Revenue is recognised net of returns and of trade discounts and is shown exclusive of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised over its estimated useful life of twenty years. The directors have reviewed this estimate and still consider it to be appropriate.

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.

Website is being amortised evenly over its estimated useful life of ten years.

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 - 25% on cost
Fixtures and fittings - 10% on cost

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

CHAS NORMAN CAMERAS LIMITED (REGISTERED NUMBER: 04670299)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that give rise to financial assets and financial liabilities including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans and borrowings and investments in certain non puttable and non convertible equity instruments.

Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest. Debt instruments which are treated as financial assets and accounted for at amortised cost are also assessed for impairment.

Equity instruments are initially accounted for at transaction price. They are subsequently accounted for at cost unless they can be accounted for at fair value based on a readily available market price or fair value. Equity instruments which are treated as financial assets and accounted for at cost are also assessed for impairment.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet 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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

CHAS NORMAN CAMERAS LIMITED (REGISTERED NUMBER: 04670299)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023


4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 250,000 4,675 254,675
AMORTISATION
At 1 March 2022 235,280 2,808 238,088
Amortisation for year 14,720 468 15,188
At 28 February 2023 250,000 3,276 253,276
NET BOOK VALUE
At 28 February 2023 - 1,399 1,399
At 28 February 2022 14,720 1,867 16,587

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 March 2022 50,137 36,226 86,363
Additions 535 274 809
At 28 February 2023 50,672 36,500 87,172
DEPRECIATION
At 1 March 2022 49,549 35,765 85,314
Charge for year 554 480 1,034
At 28 February 2023 50,103 36,245 86,348
NET BOOK VALUE
At 28 February 2023 569 255 824
At 28 February 2022 588 461 1,049

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 1,492 1,648
Prepayments 1,969 1,742
3,461 3,390

CHAS NORMAN CAMERAS LIMITED (REGISTERED NUMBER: 04670299)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other loans 13,870 13,870
Trade creditors 25,005 26,255
Corporation tax 12,873 17,648
Social security and other taxes 392 -
VAT 12,357 11,553
Other creditors 550 595
Directors' loan accounts 29,358 24,953
Accrued expenses 7,712 8,999
102,117 103,873

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Directors loan accounts 15,000 20,000

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.23 28.2.22
£    £   
Within one year 18,000 18,000
Between one and five years 28,500 46,500
46,500 64,500

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
D Podbury
Balance outstanding at start of year - -
Amounts advanced 17,390 21,322
Amounts repaid (17,390 ) (21,322 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest is charged on advances to the director in excess of £10,000 at the official rate. All advances are repayable within nine months of the balance sheet date.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CHAS NORMAN CAMERAS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chas Norman Cameras Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Chas Norman Cameras Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chas Norman Cameras Limited and state those matters that we have agreed to state to the Board of Directors of Chas Norman Cameras Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chas Norman Cameras Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chas Norman Cameras Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chas Norman Cameras Limited. You consider that Chas Norman Cameras Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chas Norman Cameras Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH


27 November 2023