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COMPANY REGISTRATION NUMBER: 02856312
The Chatham Archive & Document Storage Company Ltd
Unaudited Financial Statements
31 December 2023
The Chatham Archive & Document Storage Company Ltd
Financial Statements
Year ended 31 December 2023
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
The Chatham Archive & Document Storage Company Ltd
Director's Report
Year ended 31 December 2023
The director presents his report and the unaudited financial statements of the company for the year ended 31 December 2023 .
Director
The director who served the company during the year was as follows:
Mr M P Chauveau
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 26 July 2024 and signed on behalf of the board by:
Mr M P Chauveau
Director
Registered office:
645 Portslade Road
London
England
SW8 4PH
The Chatham Archive & Document Storage Company Ltd
Statement of Income and Retained Earnings
Year ended 31 December 2023
2023
2022
Note
£
£
Turnover
1,399,344
1,465,234
Cost of sales
562,295
475,526
------------
------------
Gross profit
837,049
989,708
Administrative expenses
585,443
572,799
---------
---------
Operating profit
251,606
416,909
---------
---------
Profit before taxation
5
251,606
416,909
Tax on profit
61,721
83,583
---------
---------
Profit for the financial year and total comprehensive income
189,885
333,326
---------
---------
Dividends paid and payable
( 616,671)
Retained earnings at the start of the year
866,008
532,682
---------
---------
Retained earnings at the end of the year
439,222
866,008
---------
---------
All the activities of the company are from continuing operations.
The Chatham Archive & Document Storage Company Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
104,888
115,694
Investments
7
140,000
140,000
---------
---------
244,888
255,694
Current assets
Debtors
8
276,620
536,033
Cash at bank and in hand
143,423
347,900
---------
---------
420,043
883,933
Creditors: amounts falling due within one year
9
215,709
263,619
---------
---------
Net current assets
204,334
620,314
---------
---------
Total assets less current liabilities
449,222
876,008
---------
---------
Net assets
449,222
876,008
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
439,222
866,008
---------
---------
Shareholders funds
449,222
876,008
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mr M P Chauveau
Director
Company registration number: 02856312
The Chatham Archive & Document Storage Company Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 645 Portslade Road, London, SW8 4PH, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
Period of lease
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 7 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
20,000
23,000
--------
--------
6. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
70,161
529,512
820,567
203,645
1,623,885
Additions
9,194
9,194
--------
---------
---------
---------
------------
At 31 December 2023
70,161
529,512
829,761
203,645
1,633,079
--------
---------
---------
---------
------------
Depreciation
At 1 January 2023
44,804
494,354
805,047
163,986
1,508,191
Charge for the year
2,500
7,000
3,500
7,000
20,000
--------
---------
---------
---------
------------
At 31 December 2023
47,304
501,354
808,547
170,986
1,528,191
--------
---------
---------
---------
------------
Carrying amount
At 31 December 2023
22,857
28,158
21,214
32,659
104,888
--------
---------
---------
---------
------------
At 31 December 2022
25,357
35,158
15,520
39,659
115,694
--------
---------
---------
---------
------------
7. Investments
Other investments other than loans
£
Cost
At 1 January 2023 and 31 December 2023
140,000
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
140,000
---------
At 31 December 2022
140,000
---------
8. Debtors
2023
2022
£
£
Trade debtors
196,620
177,465
Amounts owed by group undertakings and undertakings in which the company has a participating interest
227,195
Other debtors
80,000
131,373
---------
---------
276,620
536,033
---------
---------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
47,652
68,287
Corporation tax
102,033
83,583
Social security and other taxes
58,459
49,440
Other creditors
7,565
62,309
---------
---------
215,709
263,619
---------
---------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr M P Chauveau
( 641)
641
----
----
----
----
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr M P Chauveau
( 1,787)
1,146
( 641)
-------
----
-------
----
11. Related party transactions
During the year the company paid dividends of £616,672 to SDM Holdings Limited.