1 September 2022 false No description of principal activity Taxfiler 2023.10 09120380business:PrivateLimitedCompanyLtd2022-09-012023-08-31 091203802022-08-31 091203802022-09-012023-08-31 09120380business:AuditExemptWithAccountantsReport2022-09-012023-08-31 09120380business:FilletedAccounts2022-09-012023-08-31 091203802023-08-31 091203802022-08-31 09120380core:WithinOneYear2023-08-31 09120380core:WithinOneYear2022-08-31 09120380core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 09120380core:ShareCapitalcore:PreviouslyStatedAmount2022-08-31 09120380core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 09120380core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-08-31 09120380core:PreviouslyStatedAmount2023-08-31 09120380core:PreviouslyStatedAmount2022-08-31 09120380business:SmallEntities2022-09-012023-08-31 09120380business:Director12022-09-012023-08-31 09120380countries:EnglandWales2022-09-012023-08-31 09120380business:RegisteredOffice2022-09-012023-08-31 09120380core:PlantMachinery2022-09-012023-08-31 09120380core:MotorVehicles2022-09-012023-08-31 09120380core:PlantMachinery2022-08-31 09120380core:MotorVehicles2022-08-31 09120380core:PlantMachinery2023-08-31 09120380core:MotorVehicles2023-08-31 091203802021-09-012022-08-31 iso4217:GBP xbrli:pure
Company Registration No. 09120380 (England and Wales)
Chiselspeed Tuning Limited Unaudited accounts for the year ended 31 August 2023
Chiselspeed Tuning Limited Unaudited accounts Contents
Page
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Chiselspeed Tuning Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,286 
7,048 
Current assets
Inventories
37,800 
35,375 
Debtors
16,683 
16,617 
Cash at bank and in hand
18,928 
31,475 
73,411 
83,467 
Creditors: amounts falling due within one year
(78,515)
(80,741)
Net current (liabilities)/assets
(5,104)
2,726 
Net assets
182 
9,774 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
82 
9,674 
Shareholders' funds
182 
9,774 
For the year ending 31 August 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 3 November 2023 and were signed on its behalf by
Martin Cook Director Company Registration No. 09120380
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Chiselspeed Tuning Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Chiselspeed Tuning Limited is a private company, limited by shares, registered in England and Wales, registration number 09120380. The registered office is Enterprise Industrial Estate Aberford Rd, Barwick In Elmet, Leeds, West Yorkshire, LS15 4EF.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
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
25% on Reducing Balance
Motor vehicles
25% on Reducing Balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Pension costs
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.
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Chiselspeed Tuning Limited Notes to the Accounts for the year ended 31 August 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
28,841 
8,835 
37,676 
At 31 August 2023
28,841 
8,835 
37,676 
Depreciation
At 1 September 2022
22,644 
7,984 
30,628 
Charge for the year
1,549 
213 
1,762 
At 31 August 2023
24,193 
8,197 
32,390 
Net book value
At 31 August 2023
4,648 
638 
5,286 
At 31 August 2022
6,197 
851 
7,048 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,709 
- 
Accrued income and prepayments
423 
423 
Other debtors
13,551 
16,194 
16,683 
16,617 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
21,943 
15,463 
Taxes and social security
18,666 
18,596 
Other creditors
37,906 
46,682 
78,515 
80,741 
7
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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