IRIS Accounts Production v24.2.0.383 05758396 Board of Directors 1.1.23 31.12.23 31.12.23 30.8.24 false true false false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057583962022-12-31057583962023-12-31057583962023-01-012023-12-31057583962021-12-31057583962022-01-012022-12-31057583962022-12-3105758396ns15:EnglandWales2023-01-012023-12-3105758396ns14:PoundSterling2023-01-012023-12-3105758396ns10:Director12023-01-012023-12-3105758396ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105758396ns10:SmallEntities2023-01-012023-12-3105758396ns10:Audited2023-01-012023-12-3105758396ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105758396ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105758396ns10:FullAccounts2023-01-012023-12-310575839612023-01-012023-12-3105758396ns10:Director22023-01-012023-12-3105758396ns10:Director32023-01-012023-12-3105758396ns10:Director42023-01-012023-12-3105758396ns10:Director52023-01-012023-12-3105758396ns10:RegisteredOffice2023-01-012023-12-3105758396ns5:CurrentFinancialInstruments2023-12-3105758396ns5:CurrentFinancialInstruments2022-12-3105758396ns5:ShareCapital2023-12-3105758396ns5:ShareCapital2022-12-3105758396ns5:SharePremium2023-12-3105758396ns5:SharePremium2022-12-3105758396ns5:RetainedEarningsAccumulatedLosses2023-12-3105758396ns5:RetainedEarningsAccumulatedLosses2022-12-3105758396ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105758396ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3105758396ns5:ComputerSoftware2023-01-012023-12-3105758396ns5:IntangibleAssetsOtherThanGoodwill2023-12-3105758396ns5:PlantMachinery2022-12-3105758396ns5:FurnitureFittings2022-12-3105758396ns5:MotorVehicles2022-12-3105758396ns5:PlantMachinery2023-01-012023-12-3105758396ns5:FurnitureFittings2023-01-012023-12-3105758396ns5:MotorVehicles2023-01-012023-12-3105758396ns5:PlantMachinery2023-12-3105758396ns5:FurnitureFittings2023-12-3105758396ns5:MotorVehicles2023-12-3105758396ns5:PlantMachinery2022-12-3105758396ns5:FurnitureFittings2022-12-3105758396ns5:MotorVehicles2022-12-3105758396ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3105758396ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3105758396ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105758396ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 05758396 (England and Wales)













Financial Statements

for the Year Ended 31 December 2023

for

Chapman Leonard Studio Equipment Limited

Chapman Leonard Studio Equipment Limited (Registered number: 05758396)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chapman Leonard Studio Equipment Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: L Chapman
K Fraser
D J Fraser
C L Huenergardt
Ms R Kemble





REGISTERED OFFICE: Unit 2 North Orbital Commercial Park
Napsbury Lane
St Albans
Hertfordshire
AL1 1XB





REGISTERED NUMBER: 05758396 (England and Wales)





AUDITORS: Roy Pinnock & Co LLP
Statutory Auditors
Wren House
68 London Road
St Albans
Hertfordshire
AL1 1NG

Chapman Leonard Studio Equipment Limited (Registered number: 05758396)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5 -
Tangible assets 5 1,262,143 485,239
1,262,148 485,239

CURRENT ASSETS
Stocks 349,995 -
Debtors 6 714,224 601,379
Cash at bank and in hand 871,551 580,689
1,935,770 1,182,068
CREDITORS
Amounts falling due within one year 7 1,379,443 268,612
NET CURRENT ASSETS 556,327 913,456
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,818,475

1,398,695

PROVISIONS FOR LIABILITIES 140,972 70,988
NET ASSETS 1,677,503 1,327,707

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 36,001 36,001
Retained earnings 1,640,502 1,290,706
1,677,503 1,327,707

Chapman Leonard Studio Equipment Limited (Registered number: 05758396)

Balance Sheet - continued
31 December 2023


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 30 August 2024 and were signed on its behalf by:





Ms R Kemble - Director


Chapman Leonard Studio Equipment Limited (Registered number: 05758396)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Chapman Leonard Studio Equipment Limited 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
& it is probable that future economic benefits will flow to the entity

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software has been fully amortised in the current year.

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 shorter.

Plant & Machinery - 25% reducing balance
Fixtures and Fittings & Motor Vehicles - 15% reducing balance.

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


Chapman Leonard Studio Equipment Limited (Registered number: 05758396)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Chapman Leonard Studio Equipment Limited (Registered number: 05758396)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 5
At 31 December 2023 5
NET BOOK VALUE
At 31 December 2023 5

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 998,964 39,810 95,300 1,134,074
Additions 950,025 4,974 91,410 1,046,409
Disposals (7,791 ) - (16,700 ) (24,491 )
At 31 December 2023 1,941,198 44,784 170,010 2,155,992
DEPRECIATION
At 1 January 2023 567,080 4,730 77,025 648,835
Charge for year 252,413 5,173 10,151 267,737
Eliminated on disposal (7,629 ) - (15,094 ) (22,723 )
At 31 December 2023 811,864 9,903 72,082 893,849
NET BOOK VALUE
At 31 December 2023 1,129,334 34,881 97,928 1,262,143
At 31 December 2022 431,884 35,080 18,275 485,239

Chapman Leonard Studio Equipment Limited (Registered number: 05758396)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
Additions 552,248
At 31 December 2023 552,248
DEPRECIATION
Charge for year 108,917
At 31 December 2023 108,917
NET BOOK VALUE
At 31 December 2023 443,331

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 476,328 417,746
Other debtors 237,896 183,633
714,224 601,379

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 44,151 51,982
Amounts owed to group undertakings 740,123 -
Taxation and social security 156,660 136,237
Other creditors 438,509 80,393
1,379,443 268,612

Chapman Leonard Studio Equipment Limited (Registered number: 05758396)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. We were not appointed as auditor of the company until after 31 December 2023 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities & values held at 31 December 2023, which are included in the balance sheet at £349,995,by using other audit procedures.
Consequently we were unable to determine whether any adjustment to this amount was necessary.

Natalie Coleman FCCA (Senior Statutory Auditor)
for and on behalf of Roy Pinnock & Co LLP

10. RELATED PARTY DISCLOSURES

Chapman/Leonard Studio Equipment inc is the parent company owning 100% of the shares.

During the year, the company leased equipment of £1,851,474 (2022 - £1,242,159) on normal commercial terms from the parent company.

At the balance sheet date, the amount due to the parent company was £740,123 (2022 - nil).