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Registered number: 03311212










Chesswood Limited










Financial statements

Information for filing with the registrar

For the Year Ended 29 February 2024





 
Chesswood Limited
Registered number: 03311212

Balance Sheet
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
500,000
500,000

Net assets
  
500,000
500,000


Capital and reserves
  

Called up share capital 
 5 
40,000
40,000

Capital redemption reserve
  
98,800
98,800

Profit and loss account
  
361,200
361,200

  
500,000
500,000


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 year 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 profit and loss account in accordance with provisions 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: 




................................................
S C Merritt
................................................
M James
Director
Director
Date: 20 August 2024

Page 1

 
Chesswood Limited
 

Statement of Changes in Equity
For the Year Ended 29 February 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 March 2023
40,000
98,800
361,200
500,000


Comprehensive income for the year

Profit for the year
-
-
400,000
400,000

Dividends
-
-
(400,000)
(400,000)


At 29 February 2024
40,000
98,800
361,200
500,000


The notes on pages 3 to 4 form part of these financial statements.


Statement of Changes in Equity
For the Year Ended 28 February 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 March 2022
40,000
98,800
361,200
500,000


Comprehensive income for the year

Profit for the year
-
-
350,000
350,000

Dividends
-
-
(350,000)
(350,000)


At 28 February 2023
40,000
98,800
361,200
500,000


The notes on pages 3 to 4 form part of these financial statements.


Share capital
This represents the nominal value of shares that have been issued by the Company.
Capital redemption reserve
This reserve records the nominal value of shares repurchased by the Company.  The capital redemption reserve is not distributable.
Profit and loss account
The profit and loss account comprises all current and prior period retained profits and losses after deducting any distributions made to the Company’s shareholders. The profit and loss account is fully distributable at each year end.

Page 2

 
Chesswood Limited
 

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

1.


General information

Chesswood Limited is a limited liability company incorporated in England, company number 03311212. The address of the registered office and principal place and business is EPP House, Epsom Business Park, Kiln Lane, Epsom, Surrey, KT17 1JF.

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 financial statements are presented in Sterling, which is the functional currency of the company and are rounded to the nearest £1. 

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

  
2.3
Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment. Where merger relief is applicable, the cost of the investment in a subsidiary undertaking is measured at the nominal value of the shares issued together with the fair value of any additional consideration paid.

 
2.4

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Fixed asset investments








Unlisted investments

£



Cost or valuation


At 1 March 2023
500,000



At 29 February 2024
500,000




Page 3

 
Chesswood Limited
 

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

5.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



40,000 (2023 - 40,000) Ordinary shares of £1.00 each
40,000
40,000



6.


Controlling party

The Company regards Somers Hills Limited, incorporated in England, as its ultimate holding company. The address of the registered office of Somers Hills Limited is EPP House, 8/9 Epsom Business Park, Epsom, United Kingdom, KT17 1JF.
Somers Hills Limited has no controlling shareholders. 
Consolidated group accounts are publicly available from the Registrar of Companies.


7.


Subsidiary undertaking

European Process Plant Limited, incorporated in England, is a 100% wholly owned subsidiary. The principal activity of the subsidiary is the supply of bakery equipment.







Page 4