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CHAPELHALL INDUSTRIAL BEARINGS LIMITED

Registered Number
SC116385
(Scotland)

Unaudited Financial Statements for the Year ended
30 June 2023

CHAPELHALL INDUSTRIAL BEARINGS LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

Hay, Alison Baxter
Hay, Ian
Hay, James
Hay, Robert

Company Secretary

Hay, Alison Baxter

Registered Address

Block 4, Unit 5, Burns Road
Chapelhall Industrial Estate
Airdrie
ML6 8QH

Registered Number

SC116385 (Scotland)
CHAPELHALL INDUSTRIAL BEARINGS LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets755,11559,282
55,11559,282
Current assets
Stocks8,00011,992
Debtors105,117115,441
Cash at bank and on hand68,73177,720
181,848205,153
Creditors amounts falling due within one year(100,544)(123,425)
Net current assets (liabilities)81,30481,728
Total assets less current liabilities136,419141,010
Creditors amounts falling due after one year(23,298)(23,922)
Net assets113,121117,088
Capital and reserves
Called up share capital100100
Profit and loss account113,021116,988
Shareholders' funds113,121117,088
The financial statements were approved and authorised for issue by the Board of Directors on 27 November 2023, and are signed on its behalf by:
Hay, Ian
Director
Hay, Robert
Director

Registered Company No. SC116385
CHAPELHALL INDUSTRIAL BEARINGS LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principle activity of the company was the wholesale of industrial bearings and other intermediate products.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
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 the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-4
Vehicles-4
Office Equipment25-
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year33
7.Property, plant and equipment

Land & buildings

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 July 2255,00047,2078,446110,653
Additions-15,87169916,570
Disposals-(22,597)-(22,597)
At 30 June 2355,00040,4819,145104,626
Depreciation and impairment
At 01 July 2229,78214,1457,44451,371
Charge for year1,1006,1539368,189
On disposals-(10,049)-(10,049)
At 30 June 2330,88210,2498,38049,511
Net book value
At 30 June 2324,11830,23276555,115
At 30 June 2225,21833,0621,00259,282