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REGISTERED NUMBER: 06612385 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

CHASEVILLE MOTOR COMPANY LIMITED

CHASEVILLE MOTOR COMPANY LIMITED (REGISTERED NUMBER: 06612385)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CHASEVILLE MOTOR COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mr T Georgiou





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 06612385 (England and Wales)





ACCOUNTANTS: AC Partners Professional Services Ltd
Chartered Accountants
869 High Road
London
N12 8QA

CHASEVILLE MOTOR COMPANY LIMITED (REGISTERED NUMBER: 06612385)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,703 54,060

CURRENT ASSETS
Debtors 5 57,497 36,243
Cash at bank and in hand 76,394 125,534
133,891 161,777
CREDITORS
Amounts falling due within one year 6 91,545 88,796
NET CURRENT ASSETS 42,346 72,981
TOTAL ASSETS LESS CURRENT LIABILITIES 94,049 127,041

CREDITORS
Amounts falling due after more than one year 7 (23,204 ) (35,390 )

PROVISIONS FOR LIABILITIES 8 (6,944 ) (8,609 )
NET ASSETS 63,901 83,042

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 71,612 71,612
Retained earnings (7,811 ) 11,330
SHAREHOLDERS' FUNDS 63,901 83,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 8 February 2024 and were signed by:





Mr T Georgiou - Director


CHASEVILLE MOTOR COMPANY LIMITED (REGISTERED NUMBER: 06612385)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Chaseville Motor Company 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.

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.

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 reducing balance.
Fixtures and fittings - 25% on reducing balance.
Computer and other equipment - 25% on reducing balance.

FINANCIAL INSTRUMENTS
Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of instrument.

Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances are initially measured at transaction price including transaction cost and are subsequently carried at amortised cost using the effective interest method.

Impairment
Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the currying amount would have been, had the impairment not previously been recognised.The impairment reversal is recognised in profit or loss.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TAXATION
Taxation for the year comprises current 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 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.


CHASEVILLE MOTOR COMPANY LIMITED (REGISTERED NUMBER: 06612385)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures Computer
Plant and and and other
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2022 125,022 3,586 7,651 136,259
Additions 15,126 - - 15,126
Disposals (2,500 ) - - (2,500 )
At 30 June 2023 137,648 3,586 7,651 148,885
DEPRECIATION
At 1 July 2022 76,686 1,569 3,944 82,199
Charge for year 15,803 504 926 17,233
Eliminated on disposal (2,250 ) - - (2,250 )
At 30 June 2023 90,239 2,073 4,870 97,182
NET BOOK VALUE
At 30 June 2023 47,409 1,513 2,781 51,703
At 30 June 2022 48,336 2,017 3,707 54,060

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 32,706 893
Other debtors 24,791 35,350
57,497 36,243

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 7,500
Trade creditors 48,486 49,571
Taxation and social security 3,117 6,545
Other creditors 29,942 25,180
91,545 88,796

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 23,204 35,390

CHASEVILLE MOTOR COMPANY LIMITED (REGISTERED NUMBER: 06612385)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,944 8,609

Deferred
tax
£   
Balance at 1 July 2022 8,609
Accelerated capital allowances (1,665 )
Balance at 30 June 2023 6,944