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REGISTERED NUMBER: 02931367 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

CHILTERN THRUST BORE LTD

CHILTERN THRUST BORE LTD (REGISTERED NUMBER: 02931367)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CHILTERN THRUST BORE LTD

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTORS: L A Howe
A J Howe
Z Negahban
D R Croot





SECRETARY: L A Howe





REGISTERED OFFICE: Chiltern House
15 Stilebrook Road
Olney
Buckinghamshire
MK46 5EA





REGISTERED NUMBER: 02931367 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

CHILTERN THRUST BORE LTD (REGISTERED NUMBER: 02931367)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 265,880 239,631

CURRENT ASSETS
Stocks 30,509 3,000
Debtors 5 296,049 285,636
Cash at bank 144,290 397,860
470,848 686,496
CREDITORS
Amounts falling due within one year 6 (211,954 ) (179,815 )
NET CURRENT ASSETS 258,894 506,681
TOTAL ASSETS LESS CURRENT
LIABILITIES

524,774

746,312

CREDITORS
Amounts falling due after more than one
year

7

(98,975

)

(132,091

)

PROVISIONS FOR LIABILITIES (57,083 ) (48,765 )
NET ASSETS 368,716 565,456

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 368,616 565,356
SHAREHOLDERS' FUNDS 368,716 565,456

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:




A J Howe - Director


CHILTERN THRUST BORE LTD (REGISTERED NUMBER: 02931367)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Chiltern Thrust Bore Ltd is a private company, limited by share capital, incorporated in England and Wales, registration number 02931367. The address of the registered office is Chiltern House, 15 Stilebrook Road, Olney, Buckinghamshire, MK46 5EA.

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.

The presentation currency of the financial statements is sterling (£) and figures are rounded to the
nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.
Depreciation is provided on the following basis:

Plant and machinery-20% on reducing balance
Motor vehicles-25% on reducing balance
Fixtures & fittings-25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

CHILTERN THRUST BORE LTD (REGISTERED NUMBER: 02931367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at
transaction price, unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments 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 10 (2022 - 10 ) .

CHILTERN THRUST BORE LTD (REGISTERED NUMBER: 02931367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2022 1,458,592 14,855 336,738 1,810,185
Additions 83,335 3,612 - 86,947
Disposals - - (70,270 ) (70,270 )
At 31 July 2023 1,541,927 18,467 266,468 1,826,862
DEPRECIATION
At 1 August 2022 1,320,737 1,843 247,974 1,570,554
Charge for year 33,230 3,853 21,716 58,799
Eliminated on disposal - - (68,371 ) (68,371 )
At 31 July 2023 1,353,967 5,696 201,319 1,560,982
NET BOOK VALUE
At 31 July 2023 187,960 12,771 65,149 265,880
At 31 July 2022 137,855 13,012 88,764 239,631

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 226,732 214,014
Other debtors 69,317 71,622
296,049 285,636

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 24,601 18,518
Hire purchase contracts (see note 8) 22,356 22,435
Trade creditors 152,534 93,582
Taxation and social security 2,097 26,185
Other creditors 10,366 19,095
211,954 179,815

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 71,678 81,482
Hire purchase contracts (see note 8) 27,297 50,609
98,975 132,091

CHILTERN THRUST BORE LTD (REGISTERED NUMBER: 02931367)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 22,356 22,435
Between one and five years 27,297 50,609
49,653 73,044

Non-cancellable operating leases
2023 2022
£    £   
Within one year 5,168 4,658
Between one and five years 26,700 7,630
31,868 12,288

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year an overdrawn loan account existed for Mr A Howe. The maximum amount outstanding during the year was £449. At the year end an amount of £449 remained outstanding.

During the year the company made rental payments on its operational premises amounting to £48,000 (2022 £48,000). The premises are owned jointly by the Directors Mr and Mrs Howe.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Chiltern Thrust Bore Holdings Ltd , a company registered in England and Wales.