Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-311576falsetrue2022-11-01No description of principal activity88trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11983456 2022-11-01 2023-10-31 11983456 2021-11-01 2022-10-31 11983456 2023-10-31 11983456 2022-10-31 11983456 c:Director1 2022-11-01 2023-10-31 11983456 c:Director2 2022-11-01 2023-10-31 11983456 c:RegisteredOffice 2022-11-01 2023-10-31 11983456 d:Buildings d:ShortLeaseholdAssets 2022-11-01 2023-10-31 11983456 d:Buildings d:ShortLeaseholdAssets 2023-10-31 11983456 d:Buildings d:ShortLeaseholdAssets 2022-10-31 11983456 d:FurnitureFittings 2022-11-01 2023-10-31 11983456 d:FurnitureFittings 2023-10-31 11983456 d:FurnitureFittings 2022-10-31 11983456 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11983456 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 11983456 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11983456 d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 11983456 d:CurrentFinancialInstruments 2023-10-31 11983456 d:CurrentFinancialInstruments 2022-10-31 11983456 d:Non-currentFinancialInstruments 2023-10-31 11983456 d:Non-currentFinancialInstruments 2022-10-31 11983456 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11983456 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11983456 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 11983456 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 11983456 d:ShareCapital 2023-10-31 11983456 d:ShareCapital 2022-10-31 11983456 d:RetainedEarningsAccumulatedLosses 2023-10-31 11983456 d:RetainedEarningsAccumulatedLosses 2022-10-31 11983456 c:OrdinaryShareClass1 2022-11-01 2023-10-31 11983456 c:OrdinaryShareClass1 2023-10-31 11983456 c:OrdinaryShareClass1 2022-10-31 11983456 c:OrdinaryShareClass2 2022-11-01 2023-10-31 11983456 c:OrdinaryShareClass2 2023-10-31 11983456 c:OrdinaryShareClass2 2022-10-31 11983456 c:FRS102 2022-11-01 2023-10-31 11983456 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 11983456 c:FullAccounts 2022-11-01 2023-10-31 11983456 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 11983456












LANGLEYS CHAPELFIELD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

 

LANGLEYS CHAPELFIELD LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 10


 

LANGLEYS CHAPELFIELD LIMITED
 
COMPANY INFORMATION


Directors
J Schusman 
S Schusman 




Registered number
11983456



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:11983456
LANGLEYS CHAPELFIELD LIMITED

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
26,785
28,161

  
26,785
28,161

Current assets
  

Stocks
  
107,653
70,218

Debtors: amounts falling due within one year
 5 
54,267
20,683

Cash at bank and in hand
  
7,563
19,803

  
169,483
110,704

Creditors: amounts falling due within one year
 6 
(123,348)
(71,101)

Net current assets
  
 
 
46,135
 
 
39,603

Total assets less current liabilities
  
72,920
67,764

Creditors: amounts falling due after more than one year
 7 
(31,296)
(38,001)

  

Net assets
  
41,624
29,763


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
41,622
29,761

Total equity
  
41,624
29,763


Page 2


 
REGISTERED NUMBER:11983456
LANGLEYS CHAPELFIELD LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Schusman
Director

Date: 29 July 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 

LANGLEYS CHAPELFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Langleys Chapelfield Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The company will continue to receive the support of the directors.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 4

 

LANGLEYS CHAPELFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Taxation

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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model 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.

Page 5

 

LANGLEYS CHAPELFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Fixtures and fittings
-
15%
straight line

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.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.11

Share capital

Ordinary shares are classified as equity.

Page 6

 

LANGLEYS CHAPELFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.12

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. 
 
The Company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

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

Page 7

 

LANGLEYS CHAPELFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)





Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).

Page 8

 

LANGLEYS CHAPELFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 November 2022
-
51,201
51,201


Additions
7,880
-
7,880



At 31 October 2023

7,880
51,201
59,081



Depreciation


At 1 November 2022
-
23,040
23,040


Charge for the year on owned assets
-
7,680
7,680


Charge for the year on financed assets
1,576
-
1,576



At 31 October 2023

1,576
30,720
32,296



Net book value



At 31 October 2023
6,304
20,481
26,785



At 31 October 2022
-
28,161
28,161


5.


Debtors

2023
2022
£
£


Trade debtors
3,015
13,488

Other debtors
11,396
5,509

Prepayments and accrued income
39,856
1,686

54,267
20,683


Page 9

 

LANGLEYS CHAPELFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
112,781
63,526

Corporation tax
4,953
458

Other taxation and social security
2,478
-

Other creditors
636
3,117

Accruals and deferred income
2,500
4,000

123,348
71,101



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
31,296
38,001

31,296
38,001



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary A share of £1
1
1
1 (2022 - 1) Ordinary B share of £1
1
1

2

2



9.


Related party transactions

Included in creditors due within one year at the year end, is a total amount of £Nil (2022: £3,117), owed to a company in which the directors have a beneficial interest. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan

Included in creditors due after more than one year at the year end, is a total amount of £31,296 (2022: £38,001) owed to a company in which the directors have a beneficial interest. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan.

Page 10