Registered number
03886477
CHESHAM FENCING SUPPLIES LTD
Filleted Accounts
31 March 2023
BAS Associates Ltd
Chartered Management Accountants
8 Wingbury Courtyard
Leighton Road
Wingrave
HP22 4LW
T: 01296 381341
CHESHAM FENCING SUPPLIES LTD
Registered number: 03886477
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 68,149 109,987
Current assets
Stocks 582,001 626,363
Debtors 4 58,070 32,225
Investments held as current assets 5 503,573 395,651
Cash at bank and in hand 336,607 278,285
1,480,251 1,332,524
Creditors: amounts falling due within one year 6 (167,955) (218,035)
Net current assets 1,312,296 1,114,489
Net assets 1,380,445 1,224,476
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 124,583 122,070
Profit and loss account 1,255,762 1,102,306
Shareholders' funds 1,380,445 1,224,476
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Winchester
Director
Approved by the board on 22 December 2023
CHESHAM FENCING SUPPLIES LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 97,332 100,995 198,327
Additions 999 - 999
At 31 March 2023 98,331 100,995 199,326
Depreciation
At 1 April 2022 70,345 17,995 88,340
Charge for the year 22,087 20,750 42,837
At 31 March 2023 92,432 38,745 131,177
Net book value
At 31 March 2023 5,899 62,250 68,149
At 31 March 2022 26,987 83,000 109,987
4 Debtors 2023 2022
£ £
Trade debtors 17,114 23,065
Other debtors 40,956 9,160
58,070 32,225
5 Investments held as current assets 2023 2022
£ £
Fair value
Listed investments 503,573 395,651
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 542
Trade creditors 66,165 153,320
Taxation and social security costs 96,684 59,129
Other creditors 5,106 5,044
167,955 218,035
7 Revaluation reserve 2023 2022
£ £
At 1 April 2022 122,070 101,575
Gain on revaluation of land and buildings 2,513 20,495
At 31 March 2023 124,583 122,070
8 Other information
CHESHAM FENCING SUPPLIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
St Leonard Road
Chivery
Nr Tring
Hertfordshire
HP23 6LD
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