Company Registration No. 2726611 (England and Wales)
Chambers Engineering Limited
Unaudited accounts
for the year ended 30 June 2023
Chambers Engineering Limited
Unaudited accounts
Contents
Chambers Engineering Limited
Company Information
for the year ended 30 June 2023
Directors
Nicolas Chambers
Timothy Chambers
Company Number
2726611 (England and Wales)
Registered Office
WARMSTONE WORKS
WARMSTONE LANE, WADDESDON
AYLESBURY
BUCKINGHAMSHIRE
HP18 0NF
Chambers Engineering Limited
Statement of financial position
as at 30 June 2023
Tangible assets
1,643
6,087
Inventories
145,572
157,600
Cash at bank and in hand
21,378
16,654
Creditors: amounts falling due within one year
(177,197)
(165,336)
Net current assets
131,953
90,938
Called up share capital
100
100
Profit and loss account
133,496
96,925
Shareholders' funds
133,596
97,025
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by
Timothy Chambers
Director
Company Registration No. 2726611
Chambers Engineering Limited
Notes to the Accounts
for the year ended 30 June 2023
Chambers Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 2726611. The registered office is WARMSTONE WORKS, WARMSTONE LANE, WADDESDON, AYLESBURY, BUCKINGHAMSHIRE, HP18 0NF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% of cost
Motor vehicles
20% of cost
Fixtures & fittings
10% of cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Chambers Engineering Limited
Notes to the Accounts
for the year ended 30 June 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2022
21,913
8,425
30,338
Disposals
(10,082)
-
(10,082)
At 30 June 2023
11,831
8,425
20,256
At 1 July 2022
16,936
7,315
24,251
Charge for the year
3,334
1,110
4,444
On disposals
(10,082)
-
(10,082)
At 30 June 2023
10,188
8,425
18,613
At 30 June 2023
1,643
-
1,643
At 30 June 2022
4,977
1,110
6,087
Amounts falling due within one year
Trade debtors
142,200
82,020
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
61,099
73,542
Taxes and social security
42,868
18,564
Other creditors
73,230
73,230
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Operating lease commitments
2023
2022
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
62,580
52,500
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Average number of employees
During the year the average number of employees was 10 (2022: 10).