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Registered number: 11701145









ELEVEN CHISLEHURST LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 NOVEMBER 2023

 
ELEVEN CHISLEHURST LIMITED
REGISTERED NUMBER: 11701145

BALANCE SHEET
AS AT 28 NOVEMBER 2023

28 November
30 November
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
259,911
304,861

  
259,911
304,861

Current assets
  

Stocks
  
17,140
14,776

Debtors: amounts falling due within one year
 6 
20,044
43,847

Cash at bank and in hand
 7 
74,487
90,419

  
111,671
149,042

Creditors: amounts falling due within one year
 8 
(251,604)
(263,692)

Net current liabilities
  
 
 
(139,933)
 
 
(114,650)

Total assets less current liabilities
  
119,978
190,211

Creditors: amounts falling due after more than one year
 9 
(124,934)
(164,934)

  

Net (liabilities)/assets
  
(4,956)
25,277


Capital and reserves
  

Called up share capital 
  
104
104

Share premium account
  
100,000
100,000

Profit and loss account
  
(105,060)
(74,827)

  
(4,956)
25,277


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 period 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 statement of comprehensive income in accordance with provisions
Page 1

 
ELEVEN CHISLEHURST LIMITED
REGISTERED NUMBER: 11701145
    
BALANCE SHEET (CONTINUED)
AS AT 28 NOVEMBER 2023

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: 




................................................
Stuart Gregory Gillies
Director

Date: 28 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ELEVEN CHISLEHURST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 NOVEMBER 2023

1.


General information

Eleven Chislehurst Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Courtyard, 14a Sydenham Road, Croydon, England, CR0 2EE. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ELEVEN CHISLEHURST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 NOVEMBER 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 4

 
ELEVEN CHISLEHURST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 NOVEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
ELEVEN CHISLEHURST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 NOVEMBER 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

During the year to 28 November 2023, Company changed the method of depreciating its Long term leasehold property and plant and machinery from 25% to 15% on a reducing balance basis as the revised method better reflects the entity’s consumption of the long term leasehold property and plant and machinery over their useful lives and is consistent with the entity’s replacement cycle.
The change in depreciation method is a change in accounting estimate and is accounted for in the period of the change (i.e. in the current year) and in subsequent periods.


4.


Employees

The average monthly number of employees, including directors, during the period was 29 (2022 - 21).


5.


Tangible fixed assets







Plant and machinery

£



Cost or valuation


At 1 December 2022
408,845


Additions
840



At 28 November 2023

409,685



Depreciation


At 1 December 2022
103,984


Charge for the period on owned assets
45,790



At 28 November 2023

149,774



Net book value



At 28 November 2023
259,911



At 30 November 2022
304,861


6.


Debtors

28 November
30 November
2023
2022
£
£

Page 6

 
ELEVEN CHISLEHURST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 NOVEMBER 2023

6.Debtors (continued)


Trade debtors
2,027
12,569

Other debtors
12,657
31,278

Prepayments and accrued income
5,360
-

20,044
43,847



7.


Cash and cash equivalents

28 November
30 November
2023
2022
£
£

Cash at bank and in hand
74,487
90,419

74,487
90,419



8.


Creditors: Amounts falling due within one year

28 November
30 November
2023
2022
£
£

Bank loans
40,000
40,000

Trade creditors
48,234
42,864

Other taxation and social security
28,879
37,203

Other creditors
47,484
-

Accruals and deferred income
87,007
143,625

251,604
263,692


Page 7

 
ELEVEN CHISLEHURST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 NOVEMBER 2023

9.


Creditors: Amounts falling due after more than one year

28 November
30 November
2023
2022
£
£

Bank loans
73,333
113,333

Other creditors
51,601
51,601

124,934
164,934



10.


Loans


Analysis of the maturity of loans is given below:


28 November
30 November
2023
2022
£
£

Amounts falling due within one year

Bank loans
40,000
40,000


40,000
40,000


Amounts falling due 2-5 years

Bank loans
73,333
113,333


73,333
113,333


113,333
153,333



11.


Related party transactions

At the year end the company owed £51,601 (2022 - £51,601) to the directors of the company, in respect of interest free loans which are repayable on demand.

 
Page 8