Silverfin false false 31/07/2024 01/08/2023 31/07/2024 David Alfred Chadwick 19/07/2018 Leigh George Chadwick 19/07/2018 Neil Michael Chadwick 19/07/2018 13 August 2024 The company is no longer actively trading. 11473201 2024-07-31 11473201 bus:Director1 2024-07-31 11473201 bus:Director2 2024-07-31 11473201 bus:Director3 2024-07-31 11473201 2023-07-31 11473201 core:CurrentFinancialInstruments 2024-07-31 11473201 core:CurrentFinancialInstruments 2023-07-31 11473201 core:ShareCapital 2024-07-31 11473201 core:ShareCapital 2023-07-31 11473201 core:RetainedEarningsAccumulatedLosses 2024-07-31 11473201 core:RetainedEarningsAccumulatedLosses 2023-07-31 11473201 core:CostValuation 2023-07-31 11473201 core:CostValuation 2024-07-31 11473201 bus:OrdinaryShareClass1 2024-07-31 11473201 2023-08-01 2024-07-31 11473201 bus:FilletedAccounts 2023-08-01 2024-07-31 11473201 bus:SmallEntities 2023-08-01 2024-07-31 11473201 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 11473201 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11473201 bus:Director1 2023-08-01 2024-07-31 11473201 bus:Director2 2023-08-01 2024-07-31 11473201 bus:Director3 2023-08-01 2024-07-31 11473201 2022-08-01 2023-07-31 11473201 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 11473201 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11473201 (England and Wales)

CHAD & CO. LTD

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

CHAD & CO. LTD

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

CHAD & CO. LTD

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
CHAD & CO. LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1 1
1 1
Current assets
Cash at bank and in hand 33,371 36,883
33,371 36,883
Creditors: amounts falling due within one year 4 ( 960) ( 3,000)
Net current assets 32,411 33,883
Total assets less current liabilities 32,412 33,884
Net assets 32,412 33,884
Capital and reserves
Called-up share capital 5 3 3
Profit and loss account 32,409 33,881
Total shareholders' funds 32,412 33,884

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Chad & Co. Ltd (registered number: 11473201) were approved and authorised for issue by the Board of Directors on 13 August 2024. They were signed on its behalf by:

Leigh George Chadwick
Director
CHAD & CO. LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
CHAD & CO. LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chad & Co. Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 16 Nursery Lane, Sutton Coldfield, B74 4TP, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2022 the directors made the decision that the Company would cease trading and that the remaining investment properties would be sold. The final sale completed in May 2023. The company will remain dormant for the time being. No adjustments have been required as a result of the cessation of trade to any numbers in the accounts.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 August 2023 1
At 31 July 2024 1
Carrying value at 31 July 2024 1
Carrying value at 31 July 2023 1

4. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 960 3,000

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3 Ordinary shares of £ 1.00 each 3 3