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REGISTERED NUMBER: 03161242 (England and Wales)












Unaudited Financial Statements for the Year Ended 29 February 2024

for

Chell Aircraft Spares And Equipment Ltd

Chell Aircraft Spares And Equipment Ltd (Registered number: 03161242)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Chell Aircraft Spares And Equipment Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr W P Chell
Mrs B E Chell
Mr M A Chell



SECRETARY: Mr W P Chell



REGISTERED OFFICE: Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB



REGISTERED NUMBER: 03161242 (England and Wales)



ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB



BANKERS: The Royal Bank of Scotland
30 Greengate Street
Stafford
ST16 2QG

Chell Aircraft Spares And Equipment Ltd (Registered number: 03161242)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,602 96,817

CURRENT ASSETS
Stocks 111,000 33,000
Debtors 5 331,882 464,743
Cash at bank 399,930 400,711
842,812 898,454
CREDITORS
Amounts falling due within one year 6 114,263 200,445
NET CURRENT ASSETS 728,549 698,009
TOTAL ASSETS LESS CURRENT
LIABILITIES

816,151

794,826

PROVISIONS FOR LIABILITIES 17,431 19,353
NET ASSETS 798,720 775,473

CAPITAL AND RESERVES
Called up share capital 7 600 600
Retained earnings 798,120 774,873
SHAREHOLDERS' FUNDS 798,720 775,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Chell Aircraft Spares And Equipment Ltd (Registered number: 03161242)

Statement of Financial Position - continued
29 February 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 Income Statement 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:





Mr W P Chell - Director


Chell Aircraft Spares And Equipment Ltd (Registered number: 03161242)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Chell Aircraft Spares And Equipment 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.
Improvements to leasehold - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Chell Aircraft Spares And Equipment Ltd (Registered number: 03161242)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Loans from directors
Any loans from the directors to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023 12,691 166,865 11,662 79,556 270,774
Additions - 3,958 - 40,975 44,933
Disposals - - - (42,595 ) (42,595 )
At 29 February 2024 12,691 170,823 11,662 77,936 273,112
DEPRECIATION
At 1 March 2023 10,804 118,657 10,762 33,734 173,957
Charge for year 473 7,834 181 13,714 22,202
Eliminated on disposal - - - (10,649 ) (10,649 )
At 29 February 2024 11,277 126,491 10,943 36,799 185,510
NET BOOK VALUE
At 29 February 2024 1,414 44,332 719 41,137 87,602
At 28 February 2023 1,887 48,208 900 45,822 96,817

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 311,590 428,623
Tax - 25,716
VAT 9,747 -
Prepayments 10,545 10,404
331,882 464,743

Chell Aircraft Spares And Equipment Ltd (Registered number: 03161242)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,102 5,069
Tax 100,159 105,096
Social security and other taxes 2,362 3,005
VAT - 70,056
Other creditors 3,447 542
Directors' current accounts 1,783 7,737
Accrued expenses 4,410 8,940
114,263 200,445

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully
paid:


Number:

Class:

Nominal
value:

2024

2023
£    £   
100 Ordinary £1 100 100
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
100 Ordinary C £1 100 100
100 Ordinary D £1 100 100
100 Ordinary E £1 100 100
------ ------
600 600
====== ======


8. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments totalling £nil over the remaining period of the lease.