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T L CHAMBERLAIN & SONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






T L CHAMBERLAIN & SONS LTD (REGISTERED NUMBER: 06961113)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T L CHAMBERLAIN & SONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T Chamberlain
Mrs L Chamberlain
K T Chamberlain
H G Chamberlain





REGISTERED OFFICE: The Priory Bungalow
Sturden Lane
Hambrook
Bristol
BS16 1RW





REGISTERED NUMBER: 06961113 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

T L CHAMBERLAIN & SONS LTD (REGISTERED NUMBER: 06961113)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 201,969 145,347

CURRENT ASSETS
Stocks 5 37,250 46,940
Debtors 6 157,346 171,060
Prepayments and accrued income 468 1,378
Cash at bank 69,471 19,781
264,535 239,159
CREDITORS
Amounts falling due within one year 7 78,928 97,538
NET CURRENT ASSETS 185,607 141,621
TOTAL ASSETS LESS CURRENT
LIABILITIES

387,576

286,968

CREDITORS
Amounts falling due after more than one
year

8

(129,426

)

(104,909

)

PROVISIONS FOR LIABILITIES 10 (48,492 ) (27,616 )

ACCRUALS AND DEFERRED INCOME (2,251 ) (1,691 )
NET ASSETS 207,407 152,752

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 207,307 152,652
SHAREHOLDERS' FUNDS 207,407 152,752

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

T L CHAMBERLAIN & SONS LTD (REGISTERED NUMBER: 06961113)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





T Chamberlain - Director


T L CHAMBERLAIN & SONS LTD (REGISTERED NUMBER: 06961113)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

T L Chamberlain & Sons Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

T L CHAMBERLAIN & SONS LTD (REGISTERED NUMBER: 06961113)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 13,462 375 159,608 10,639 184,084
Additions 1,082 1,412 72,089 2,755 77,338
At 31 March 2024 14,544 1,787 231,697 13,394 261,422
DEPRECIATION
At 1 April 2023 8,003 253 23,268 7,213 38,737
Charge for year 857 53 18,264 1,542 20,716
At 31 March 2024 8,860 306 41,532 8,755 59,453
NET BOOK VALUE
At 31 March 2024 5,684 1,481 190,165 4,639 201,969
At 31 March 2023 5,459 122 136,340 3,426 145,347

T L CHAMBERLAIN & SONS LTD (REGISTERED NUMBER: 06961113)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 125,658
Additions 72,089
At 31 March 2024 197,747
DEPRECIATION
At 1 April 2023 7,854
Charge for year 13,861
At 31 March 2024 21,715
NET BOOK VALUE
At 31 March 2024 176,032
At 31 March 2023 117,804

5. STOCKS
2024 2023
£    £   
Stocks 250 200
Work-in-progress 37,000 46,740
37,250 46,940

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 53,094 77,658
Directors' current accounts 84,362 61,202
Tax 19,890 22,303
VAT - 9,897
157,346 171,060

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 15,482 8,277
Trade creditors 12,222 41,098
Tax 32,720 30,592
Social security and other taxes 425 -
VAT 524 -
Other creditors 2,770 4,711
Credit Card 1 4,785 2,860
78,928 97,538

T L CHAMBERLAIN & SONS LTD (REGISTERED NUMBER: 06961113)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 4,583 9,597
Hire purchase contracts 124,843 95,312
129,426 104,909

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 14,583 19,597

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 48,492 27,616

Deferred
tax
£   
Balance at 1 April 2023 27,616
Provided during year 20,876
Accelerated capital allowances
Balance at 31 March 2024 48,492

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs L Chamberlain and T Chamberlain
Balance outstanding at start of year 61,202 65,968
Amounts advanced 26,285 14,696
Amounts repaid (3,125 ) (19,462 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 84,362 61,202

Interest has been charged on the directors loan at the official rate of interest. The above loan has no fixed repayment term.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors Mr & Mrs Chamberlain.