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Registered number: 11678660
CHP Actuation Ltd
Financial Statements
For The Year Ended 30 November 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11678660
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,752 23,742
66,752 23,742
CURRENT ASSETS
Debtors 5 404,215 77,727
Cash at bank and in hand 412,056 212,490
816,271 290,217
Creditors: Amounts Falling Due Within One Year 6 (313,794 ) (129,354 )
NET CURRENT ASSETS (LIABILITIES) 502,477 160,863
TOTAL ASSETS LESS CURRENT LIABILITIES 569,229 184,605
Creditors: Amounts Falling Due After More Than One Year 7 (20,757 ) (13,722 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,521 ) (4,449 )
NET ASSETS 535,951 166,434
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 535,851 166,334
SHAREHOLDERS' FUNDS 535,951 166,434
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For the year ending 30 November 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Lewis
Director
16 April 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
CHP Actuation Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11678660 . The registered office is Unit 11 Vantage Point, Howley Park Road East, Leeds, LS27 0SU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. 
Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 2)
4 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 1,423 18,383 1,783 8,631 30,220
Additions 419 15,816 21,991 12,946 51,172
As at 30 November 2023 1,842 34,199 23,774 21,577 81,392
Depreciation
As at 1 December 2022 308 2,681 400 3,089 6,478
Provided during the period 359 4,327 392 3,084 8,162
As at 30 November 2023 667 7,008 792 6,173 14,640
Net Book Value
As at 30 November 2023 1,175 27,191 22,982 15,404 66,752
As at 1 December 2022 1,115 15,702 1,383 5,542 23,742
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 282,417 -
Prepayments and accrued income - 390
Other debtors 151 -
Other taxes and social security - 106
Directors' loan accounts 121,647 77,231
404,215 77,727
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 5,200 3,530
Trade creditors 81,031 5,741
Corporation tax 150,286 43,570
Other taxes and social security 2,234 -
VAT 41,971 16,265
Net wages 1,031 598
Accruals and deferred income 32,041 59,650
313,794 129,354
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 20,757 13,722
20,757 13,722
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,200 3,530
Later than one year and not later than five years 20,757 13,722
25,957 17,252
25,957 17,252
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to the director:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Christopher Lewis 77,231 204,416 (160,000 ) - 121,647
The above loan is unsecured, interest free and repayable on demand.
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