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REGISTERED NUMBER: 04975741 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2023

for

Chapelstone Developments Limited

Chapelstone Developments Limited (Registered number: 04975741)






Contents of the Financial Statements
for the Year Ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chapelstone Developments Limited

Company Information
for the Year Ended 31st May 2023







DIRECTORS: Mr S W Bark
Mr G Hamblion





REGISTERED OFFICE: Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF





REGISTERED NUMBER: 04975741 (England and Wales)





ACCOUNTANTS: Field & Co LLP
Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF

Chapelstone Developments Limited (Registered number: 04975741)

Balance Sheet
31st May 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,295 39,321

CURRENT ASSETS
Stocks 5 29,621 25,991
Debtors 6 510 21,312
Cash at bank and in hand 85,354 123,900
115,485 171,203
CREDITORS
Amounts falling due within one year 7 70,143 133,069
NET CURRENT ASSETS 45,342 38,134
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,637

77,455

CREDITORS
Amounts falling due after more than
one year

8

(20,748

)

(30,747

)

PROVISIONS FOR LIABILITIES 10 (10,126 ) (7,471 )
NET ASSETS 67,763 39,237

CAPITAL AND RESERVES
Called up share capital 11 500 500
Retained earnings 12 67,263 38,737
SHAREHOLDERS' FUNDS 67,763 39,237

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st May 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.

Chapelstone Developments Limited (Registered number: 04975741)

Balance Sheet - continued
31st May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th February 2024 and were signed on its behalf by:





Mr S W Bark - Director


Chapelstone Developments Limited (Registered number: 04975741)

Notes to the Financial Statements
for the Year Ended 31st May 2023

1. STATUTORY INFORMATION

Chapelstone Developments 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

Stocks
Stocks 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 first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Chapelstone Developments Limited (Registered number: 04975741)

Notes to the Financial Statements - continued
for the Year Ended 31st May 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.

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 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st June 2022 102,067
Additions 31,739
At 31st May 2023 133,806
DEPRECIATION
At 1st June 2022 62,746
Charge for year 17,765
At 31st May 2023 80,511
NET BOOK VALUE
At 31st May 2023 53,295
At 31st May 2022 39,321

Chapelstone Developments Limited (Registered number: 04975741)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

5. STOCKS
31/5/23 31/5/22
£    £   
Stocks 17,786 15,491
Work-in-progress 11,835 10,500
29,621 25,991

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 510 21,312

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts (see note 9) 10,000 9,747
Trade creditors 20,760 39,683
Taxation and social security 29,438 31,445
Other creditors 9,945 52,194
70,143 133,069

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans (see note 9) 20,748 30,747

9. LOANS

An analysis of the maturity of loans is given below:

31/5/23 31/5/22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 9,747
Other loans 4,600 4,600
14,600 14,347

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 9,994

Chapelstone Developments Limited (Registered number: 04975741)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

9. LOANS - continued
31/5/23 31/5/22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 10,748 20,753

10. PROVISIONS FOR LIABILITIES
31/5/23 31/5/22
£    £   
Deferred tax 10,126 7,471

Deferred
tax
£   
Balance at 1st June 2022 7,471
Provided during year 2,655
Balance at 31st May 2023 10,126

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/23 31/5/22
value: £    £   
100 Ordinary £1 100 100
100 A £1 100 100
100 B £1 100 100
100 C £1 100 100
100 D £1 100 100
500 500

12. RESERVES
Retained
earnings
£   

At 1st June 2022 38,737
Profit for the year 34,526
Dividends (6,000 )
At 31st May 2023 67,263

Chapelstone Developments Limited (Registered number: 04975741)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

13. RELATED PARTY DISCLOSURES

The Company rented premises from S W Bark for £12,000 during the year (2021 : £12,000).