Company registration number 06832755 (England and Wales)
CHANTELLE LIGHTING (EUROPE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
CHANTELLE LIGHTING (EUROPE) LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
CHANTELLE LIGHTING (EUROPE) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CHANTELLE LIGHTING (EUROPE) LIMITED FOR THE PERIOD ENDED 25 AUGUST 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chantelle Lighting (Europe) Limited for the period ended 25 August 2023 set out on pages 2 to 7 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Chantelle Lighting (Europe) Limited, as a body, in accordance with the terms of our engagement letter dated 6 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Chantelle Lighting (Europe) Limited and state those matters that we have agreed to state to the board of directors of Chantelle Lighting (Europe) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chantelle Lighting (Europe) Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Chantelle Lighting (Europe) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chantelle Lighting (Europe) Limited. You consider that Chantelle Lighting (Europe) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Chantelle Lighting (Europe) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Pierce C A Limited
23 August 2024
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
CHANTELLE LIGHTING (EUROPE) LIMITED
BALANCE SHEET
AS AT
25 AUGUST 2023
25 August 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
121,098
58,162
Current assets
Stocks
201,081
32,500
Debtors
4
296,016
12,507
Cash at bank and in hand
74,740
109,905
571,837
154,912
Creditors: amounts falling due within one year
5
(565,030)
(200,107)
Net current assets/(liabilities)
6,807
(45,195)
Total assets less current liabilities
127,905
12,967
Creditors: amounts falling due after more than one year
6
(67,186)
-
0
Net assets
60,719
12,967
Capital and reserves
Called up share capital
7
280
280
Profit and loss reserves
60,439
12,687
Total equity
60,719
12,967

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 25 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

CHANTELLE LIGHTING (EUROPE) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
25 AUGUST 2023
25 August 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 23 August 2024 and are signed on its behalf by:
Mr A M Holly
Director
Company registration number 06832755 (England and Wales)
CHANTELLE LIGHTING (EUROPE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 AUGUST 2023
- 4 -
1
Accounting policies
Company information

Chantelle Lighting (Europe) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 36, Lomeshaye Business Village, Nelson, Lancashire, BB9 7DR.

1.1
Reporting period

The financial statements have been prepared for the eighteen month period to 25 August 2023. The comparative figures are for the year ended 28 February 2022.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The directors are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance
Computers
20% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for slow-moving and obsolete items.

1.7
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 current liabilities.

CHANTELLE LIGHTING (EUROPE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 AUGUST 2023
1
Accounting policies
(Continued)
- 5 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

CHANTELLE LIGHTING (EUROPE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 AUGUST 2023
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
20
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022
62,878
Additions
109,041
At 25 August 2023
171,919
Depreciation and impairment
At 1 March 2022
4,716
Depreciation charged in the period
46,105
At 25 August 2023
50,821
Carrying amount
At 25 August 2023
121,098
At 28 February 2022
58,162

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2023
2022
£
£
Motor vehicles
72,558
-
0
72,558
-
Depreciation charge for the period in respect of leased assets
32,432
-
CHANTELLE LIGHTING (EUROPE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 AUGUST 2023
- 7 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
96,780
12,507
Amounts owed by group undertakings
57,553
-
0
Other debtors
141,683
-
0
296,016
12,507
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
219,084
164,173
Corporation tax
16,602
4,951
Other taxation and social security
15,396
21,973
Other creditors
313,948
9,010
565,030
200,107
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
67,186
-
0
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
280
280
280
280
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