CHALKWELL PET FOODS LIMITED
FILLETED ACCOUNTS
31ST DECEMBER 2017
CHALKWELL PET FOODS LIMITED
Registered number: 05627469
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 9,400 14,100
Tangible assets 4 12,619 16,648
22,019 30,748
Current assets
Stocks 7,500 12,500
Debtors 5 67,468 10,070
Cash at bank and in hand 178,004 181,527
252,972 204,097
Creditors: amounts falling due within one year 6 (85,148) (58,942)
Net current assets 167,824 145,155
Net assets 189,843 175,903
Capital and reserves
Called up share capital 100 100
Profit and loss account 189,743 175,803
Shareholders' funds 189,843 175,903
The director is 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 director acknowledges his 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.
K P Roberts
Director
Approved by the board on 1 August 2024
CHALKWELL PET FOODS LIMITED
Notes to the Accounts
for the year ended 31 December 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 10% reducing balance
Motor vehicles 25% reducing balance
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 94,000
At 31 December 2023 94,000
Amortisation
At 1 January 2023 79,900
Provided during the year 4,700
At 31 December 2023 84,600
Net book value
At 31 December 2023 9,400
At 31 December 2022 14,100
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 36,469 51,921 88,390
Disposal - (18,730) (18,730)
At 31 December 2023 36,469 33,191 69,660
Depreciation
At 1 January 2023 24,583 47,159 71,742
Charge for the year 1,188 641 1,829
Disposal - (16,530) (16,530)
At 31 December 2023 25,771 31,270 57,041
Net book value
At 31 December 2023 10,698 1,921 12,619
At 31 December 2022 11,886 4,762 16,648
5 Debtors 2023 2022
£ £
VAT recoverable 3,656 10,070
Trade debtor 63,812 -
67,468 10,070
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 27,253 26,744
Other creditors 30,520 22,818
Corporation tax 6,866 5,663
Director's loan account 20,103 3,352
Other taxes and social security costs 406 365
85,148 58,942
7 Related party transactions
Rent was paid for the current year £15000 (previous year £15000) to the director and family members for the use of the premises which are owned by them.
8 Dividends
Dividends were paid to the director for the current year £4000 ( previous year£15000 ) out of the
company's profit.
9 Other information
CHALKWELL PET FOODS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
493 London Road
Westcliff-on-Sea
Essex. SS0 9LG
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