2022-04-012023-03-312023-03-31false04704078CHASE (WHITEHAVEN) LIMITED2023-11-2355100iso4217:GBPxbrli:pure047040782022-04-01047040782023-03-31047040782022-04-012023-03-31047040782021-04-01047040782022-03-31047040782021-04-012022-03-3104704078bus:SmallEntities2022-04-012023-03-3104704078bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3104704078bus:FullAccounts2022-04-012023-03-3104704078bus:PrivateLimitedCompanyLtd2022-04-012023-03-3104704078core:WithinOneYear2023-03-3104704078core:AfterOneYear2023-03-3104704078core:WithinOneYear2022-03-3104704078core:AfterOneYear2022-03-3104704078core:ShareCapital2023-03-3104704078core:SharePremium2023-03-3104704078core:RevaluationReserve2023-03-3104704078core:OtherReservesSubtotal2023-03-3104704078core:RetainedEarningsAccumulatedLosses2023-03-3104704078core:ShareCapital2022-03-3104704078core:SharePremium2022-03-3104704078core:RevaluationReserve2022-03-3104704078core:OtherReservesSubtotal2022-03-3104704078core:RetainedEarningsAccumulatedLosses2022-03-3104704078core:LandBuildings2023-03-3104704078core:PlantMachinery2023-03-3104704078core:Vehicles2023-03-3104704078core:FurnitureFittings2023-03-3104704078core:OfficeEquipment2023-03-3104704078core:NetGoodwill2023-03-3104704078core:IntangibleAssetsOtherThanGoodwill2023-03-3104704078core:ListedExchangeTraded2023-03-3104704078core:UnlistedNon-exchangeTraded2023-03-3104704078core:LandBuildings2022-03-3104704078core:PlantMachinery2022-03-3104704078core:Vehicles2022-03-3104704078core:FurnitureFittings2022-03-3104704078core:OfficeEquipment2022-03-3104704078core:NetGoodwill2022-03-3104704078core:IntangibleAssetsOtherThanGoodwill2022-03-3104704078core:ListedExchangeTraded2022-03-3104704078core:UnlistedNon-exchangeTraded2022-03-3104704078core:LandBuildings2022-04-012023-03-3104704078core:PlantMachinery2022-04-012023-03-3104704078core:Vehicles2022-04-012023-03-3104704078core:FurnitureFittings2022-04-012023-03-3104704078core:OfficeEquipment2022-04-012023-03-3104704078core:NetGoodwill2022-04-012023-03-3104704078core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3104704078core:ListedExchangeTraded2022-04-012023-03-3104704078core:UnlistedNon-exchangeTraded2022-04-012023-03-3104704078core:MoreThanFiveYears2022-04-012023-03-3104704078core:Non-currentFinancialInstruments2023-03-3104704078core:Non-currentFinancialInstruments2022-03-3104704078dpl:CostSales2022-04-012023-03-3104704078dpl:DistributionCosts2022-04-012023-03-3104704078core:LandBuildings2022-04-012023-03-3104704078core:PlantMachinery2022-04-012023-03-3104704078core:Vehicles2022-04-012023-03-3104704078core:FurnitureFittings2022-04-012023-03-3104704078core:OfficeEquipment2022-04-012023-03-3104704078dpl:AdministrativeExpenses2022-04-012023-03-3104704078core:NetGoodwill2022-04-012023-03-3104704078core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3104704078dpl:GroupUndertakings2022-04-012023-03-3104704078dpl:ParticipatingInterests2022-04-012023-03-3104704078dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3104704078core:ListedExchangeTraded2022-04-012023-03-3104704078dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3104704078core:UnlistedNon-exchangeTraded2022-04-012023-03-3104704078dpl:CostSales2021-04-012022-03-3104704078dpl:DistributionCosts2021-04-012022-03-3104704078core:LandBuildings2021-04-012022-03-3104704078core:PlantMachinery2021-04-012022-03-3104704078core:Vehicles2021-04-012022-03-3104704078core:FurnitureFittings2021-04-012022-03-3104704078core:OfficeEquipment2021-04-012022-03-3104704078dpl:AdministrativeExpenses2021-04-012022-03-3104704078core:NetGoodwill2021-04-012022-03-3104704078core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3104704078dpl:GroupUndertakings2021-04-012022-03-3104704078dpl:ParticipatingInterests2021-04-012022-03-3104704078dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3104704078core:ListedExchangeTraded2021-04-012022-03-3104704078dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3104704078core:UnlistedNon-exchangeTraded2021-04-012022-03-3104704078core:NetGoodwill2023-03-3104704078core:IntangibleAssetsOtherThanGoodwill2023-03-3104704078core:LandBuildings2023-03-3104704078core:PlantMachinery2023-03-3104704078core:Vehicles2023-03-3104704078core:FurnitureFittings2023-03-3104704078core:OfficeEquipment2023-03-3104704078core:AfterOneYear2023-03-3104704078core:WithinOneYear2023-03-3104704078core:ListedExchangeTraded2023-03-3104704078core:UnlistedNon-exchangeTraded2023-03-3104704078core:ShareCapital2023-03-3104704078core:SharePremium2023-03-3104704078core:RevaluationReserve2023-03-3104704078core:OtherReservesSubtotal2023-03-3104704078core:RetainedEarningsAccumulatedLosses2023-03-3104704078core:NetGoodwill2022-03-3104704078core:IntangibleAssetsOtherThanGoodwill2022-03-3104704078core:LandBuildings2022-03-3104704078core:PlantMachinery2022-03-3104704078core:Vehicles2022-03-3104704078core:FurnitureFittings2022-03-3104704078core:OfficeEquipment2022-03-3104704078core:AfterOneYear2022-03-3104704078core:WithinOneYear2022-03-3104704078core:ListedExchangeTraded2022-03-3104704078core:UnlistedNon-exchangeTraded2022-03-3104704078core:ShareCapital2022-03-3104704078core:SharePremium2022-03-3104704078core:RevaluationReserve2022-03-3104704078core:OtherReservesSubtotal2022-03-3104704078core:RetainedEarningsAccumulatedLosses2022-03-3104704078core:NetGoodwill2021-04-0104704078core:IntangibleAssetsOtherThanGoodwill2021-04-0104704078core:LandBuildings2021-04-0104704078core:PlantMachinery2021-04-0104704078core:Vehicles2021-04-0104704078core:FurnitureFittings2021-04-0104704078core:OfficeEquipment2021-04-0104704078core:AfterOneYear2021-04-0104704078core:WithinOneYear2021-04-0104704078core:ListedExchangeTraded2021-04-0104704078core:UnlistedNon-exchangeTraded2021-04-0104704078core:ShareCapital2021-04-0104704078core:SharePremium2021-04-0104704078core:RevaluationReserve2021-04-0104704078core:OtherReservesSubtotal2021-04-0104704078core:RetainedEarningsAccumulatedLosses2021-04-0104704078core:AfterOneYear2022-04-012023-03-3104704078core:WithinOneYear2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:CostValuation2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3104704078core:Non-currentFinancialInstrumentscore:CostValuation2023-03-3104704078core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-3104704078core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-3104704078core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-3104704078core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-3104704078core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-3104704078core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-3104704078core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-3104704078core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-3104704078core:Non-currentFinancialInstrumentscore:CostValuation2022-03-3104704078core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-03-3104704078core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-03-3104704078core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-03-3104704078core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-03-3104704078core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-03-3104704078core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-03-3104704078core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-03-3104704078core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-03-3104704078bus:Director12022-04-012023-03-3104704078bus:Director22022-04-012023-03-3104704078core:FurnitureFittingsToolsEquipment2022-03-3104704078core:FurnitureFittingsToolsEquipment2022-04-012023-03-3104704078core:FurnitureFittingsToolsEquipment2023-03-31

CHASE (WHITEHAVEN) LIMITED

Registered Number
04704078
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

CHASE (WHITEHAVEN) LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

PROCTOR, Brian Robert
PROCTOR, Nadtaphat

Registered Address

The Chase Hotel, Inkerman
Terrace, Whitehaven
Cumbria
CA28 8AA

Registered Number

04704078 (England and Wales)
CHASE (WHITEHAVEN) LIMITED
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets5-1,580
Tangible assets6805,087809,908
805,087811,488
Current assets
Stocks106,2866,681
Debtors11315,829302,842
Cash at bank and on hand47,91582,174
370,030391,697
Creditors amounts falling due within one year12(422,824)(388,755)
Net current assets (liabilities)(52,794)2,942
Total assets less current liabilities752,293814,430
Creditors amounts falling due after one year13(54,073)(99,015)
Provisions for liabilities14(24,000)(26,000)
Net assets674,220689,415
Capital and reserves
Called up share capital100100
Revaluation reserve162,299162,299
Profit and loss account511,821527,016
Shareholders' funds674,220689,415
The financial statements were approved and authorised for issue by the Board of Directors on 23 November 2023, and are signed on its behalf by:
PROCTOR, Brian Robert
Director
Registered Company No. 04704078
CHASE (WHITEHAVEN) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings10
Intangible assets policy
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Valuation of financial instruments policy
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
4.Employee information

20232022
Average number of employees during the year2016
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2231,60031,600
At 31 March 2331,60031,600
Amortisation and impairment
At 01 April 2230,02030,020
Charge for year1,5801,580
At 31 March 2331,60031,600
Net book value
At 31 March 23--
At 31 March 221,5801,580
6.Property, plant and equipment

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 April 22750,000172,034922,034
Additions-1,2991,299
At 31 March 23750,000173,333923,333
Depreciation and impairment
At 01 April 22-112,126112,126
Charge for year-6,1206,120
At 31 March 23-118,246118,246
Net book value
At 31 March 23750,00055,087805,087
At 31 March 22750,00059,908809,908
7.Revaluation of property, plant and equipment
The Freehold property is shown at Market value It is the opinion of the directors that this valuation has not materiality altered at the period end date. Had the Land and Buildings been measured at historical cost the amounts would have been Cost £587,701 (2022 - £587,701), Accumulated depreciation £228,847 (2022 - £217,093), Carrying value £358,854 (2022 - £370,608).
8.Off balance sheet pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £3,123 (2022 - £3,068).
9.Description of nature of transactions and balances with related parties
On 1 April 2022 the company owed the director’s £306,005. During the period the directors were repaid £29,098 and advanced a further £57,570. At 31 March 2023 the company owed the directors £334,477. No interest was charged on this loan and the loan is repayable on demand. The company has a loan amount included in other debtors for monies advanced to Chase (Thailand) Company Limited, a company registered in Thailand which is entirely owned and controlled by Mr B Proctor and Mrs N Proctor. The balance due at the year end was £300,000. The loan is unsecured, interest free and repayable on demand.
10.Stocks

2023

2022

££
Raw materials and consumables6,2866,681
Total6,2866,681
11.Debtors

2023

2022

££
Trade debtors / trade receivables10,974-
Prepayments and accrued income4,8552,842
Other debtors (Non-current)300,000300,000
Total315,829302,842
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
12.Creditors within one year

2023

2022

££
Trade creditors / trade payables10,66710,827
Bank borrowings and overdrafts43,36738,000
Taxation and social security29,98329,980
Other creditors338,807309,948
Total422,824388,755
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The bank loan is secured via a legal charge over the freehold property of the company.
13.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts54,07399,015
Total54,07399,015
The bank loan is secured via a legal charge over the freehold property of the company.
14.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)24,00026,000
Total24,00026,000