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REGISTERED NUMBER: 06532767 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024

FOR

THE CHIMNEY SPECIALIST LIMITED

THE CHIMNEY SPECIALIST LIMITED (REGISTERED NUMBER: 06532767)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE CHIMNEY SPECIALIST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2024







DIRECTOR: J Norgaard





SECRETARY: A Norgaard





REGISTERED OFFICE: 2 Manor Farm Court,
Old Wolverton Road,
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN





REGISTERED NUMBER: 06532767 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

THE CHIMNEY SPECIALIST LIMITED (REGISTERED NUMBER: 06532767)

BALANCE SHEET
30 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 17,895 23,445
Tangible assets 5 3,241 841
21,136 24,286

CURRENT ASSETS
Debtors 6 30,049 6,802
Cash at bank 104 34,627
30,153 41,429
CREDITORS
Amounts falling due within one year 7 80,136 97,104
NET CURRENT LIABILITIES (49,983 ) (55,675 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,847

)

(31,389

)

CREDITORS
Amounts falling due after more than one
year

8

(10,996

)

(19,796

)

PROVISIONS FOR LIABILITIES (616 ) (160 )
NET LIABILITIES (40,459 ) (51,345 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (40,559 ) (51,445 )
SHAREHOLDERS' FUNDS (40,459 ) (51,345 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

THE CHIMNEY SPECIALIST LIMITED (REGISTERED NUMBER: 06532767)

BALANCE SHEET - continued
30 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 director and authorised for issue on 4 September 2024 and were signed by:





J Norgaard - Director


THE CHIMNEY SPECIALIST LIMITED (REGISTERED NUMBER: 06532767)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024


1. STATUTORY INFORMATION

The Chimney Specialist 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE CHIMNEY SPECIALIST LIMITED (REGISTERED NUMBER: 06532767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


2. ACCOUNTING POLICIES - continued

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

THE CHIMNEY SPECIALIST LIMITED (REGISTERED NUMBER: 06532767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 31 March 2023
and 30 March 2024 111,000
AMORTISATION
At 31 March 2023 87,555
Amortisation for year 5,550
At 30 March 2024 93,105
NET BOOK VALUE
At 30 March 2024 17,895
At 30 March 2023 23,445

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 31 March 2023 6,775 13,547 39,995 1,785 62,102
Additions 400 - - 2,612 3,012
At 30 March 2024 7,175 13,547 39,995 4,397 65,114
DEPRECIATION
At 31 March 2023 6,775 12,706 39,995 1,785 61,261
Charge for year 92 385 - 135 612
At 30 March 2024 6,867 13,091 39,995 1,920 61,873
NET BOOK VALUE
At 30 March 2024 308 456 - 2,477 3,241
At 30 March 2023 - 841 - - 841

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 28,755 6,802
Other debtors 1,294 -
30,049 6,802

THE CHIMNEY SPECIALIST LIMITED (REGISTERED NUMBER: 06532767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 22,196 8,798
Trade creditors - 18,135
Taxation and social security 5,685 7,716
Other creditors 52,255 62,455
80,136 97,104

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 10,996 19,796

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary 1 100 100