IRIS Accounts Production v24.1.9.2 08944664 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089446642023-03-31089446642024-03-31089446642023-04-012024-03-31089446642022-03-31089446642022-04-012023-03-31089446642023-03-3108944664ns15:EnglandWales2023-04-012024-03-3108944664ns14:PoundSterling2023-04-012024-03-3108944664ns10:Director12023-04-012024-03-3108944664ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108944664ns10:SmallEntities2023-04-012024-03-3108944664ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3108944664ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108944664ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108944664ns10:FullAccounts2023-04-012024-03-3108944664ns10:OrdinaryShareClass12023-04-012024-03-3108944664ns10:Director22023-04-012024-03-3108944664ns10:RegisteredOffice2023-04-012024-03-3108944664ns5:CurrentFinancialInstruments2024-03-3108944664ns5:CurrentFinancialInstruments2023-03-3108944664ns5:Non-currentFinancialInstruments2024-03-3108944664ns5:Non-currentFinancialInstruments2023-03-3108944664ns5:ShareCapital2024-03-3108944664ns5:ShareCapital2023-03-3108944664ns5:RetainedEarningsAccumulatedLosses2024-03-3108944664ns5:RetainedEarningsAccumulatedLosses2023-03-3108944664ns5:LeaseholdImprovements2023-04-012024-03-3108944664ns5:PlantMachinery2023-04-012024-03-3108944664ns5:FurnitureFittings2023-04-012024-03-3108944664ns5:MotorVehicles2023-04-012024-03-3108944664ns5:ComputerEquipment2023-04-012024-03-3108944664ns5:LeaseholdImprovements2023-03-3108944664ns5:PlantMachinery2023-03-3108944664ns5:FurnitureFittings2023-03-3108944664ns5:LeaseholdImprovements2024-03-3108944664ns5:PlantMachinery2024-03-3108944664ns5:FurnitureFittings2024-03-3108944664ns5:LeaseholdImprovements2023-03-3108944664ns5:PlantMachinery2023-03-3108944664ns5:FurnitureFittings2023-03-3108944664ns5:MotorVehicles2023-03-3108944664ns5:ComputerEquipment2023-03-3108944664ns5:MotorVehicles2024-03-3108944664ns5:ComputerEquipment2024-03-3108944664ns5:MotorVehicles2023-03-3108944664ns5:ComputerEquipment2023-03-3108944664ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3108944664ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3108944664ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3108944664ns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3108944664ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3108944664ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3108944664ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2024-03-3108944664ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3108944664ns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2024-03-3108944664ns5:LeasedAssetsHeldAsLessee2024-03-3108944664ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:LeasedAssetsHeldAsLessee2023-03-3108944664ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108944664ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108944664ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108944664ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108944664ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3108944664ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3108944664ns5:HirePurchaseContracts2024-03-3108944664ns5:HirePurchaseContracts2023-03-3108944664ns5:WithinOneYear2024-03-3108944664ns5:WithinOneYear2023-03-3108944664ns5:BetweenOneFiveYears2024-03-3108944664ns5:BetweenOneFiveYears2023-03-3108944664ns5:MoreThanFiveYears2024-03-3108944664ns5:MoreThanFiveYears2023-03-3108944664ns5:AllPeriods2024-03-3108944664ns5:AllPeriods2023-03-3108944664ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 08944664 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Chichester Cars Ltd

Chichester Cars Ltd (Registered number: 08944664)






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

Chartered Accountants' Report 9

Chichester Cars Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: H G Waller
T Waller





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 08944664 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Chichester Cars Ltd (Registered number: 08944664)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 415,054 106,335

CURRENT ASSETS
Stocks 27,877 16,145
Debtors 5 327,418 571,465
Cash at bank and in hand 41,311 143,520
396,606 731,130
CREDITORS
Amounts falling due within one year 6 352,320 384,091
NET CURRENT ASSETS 44,286 347,039
TOTAL ASSETS LESS CURRENT
LIABILITIES

459,340

453,374

CREDITORS
Amounts falling due after more than one
year

7

(195,478

)

(130,153

)

PROVISIONS FOR LIABILITIES (75,193 ) (26,584 )
NET ASSETS 188,669 296,637

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 188,569 296,537
SHAREHOLDERS' FUNDS 188,669 296,637

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.

Chichester Cars Ltd (Registered number: 08944664)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





H G Waller - Director


Chichester Cars Ltd (Registered number: 08944664)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Chichester Cars 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 represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

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.
Improvements to property - Over the period of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 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.

Chichester Cars Ltd (Registered number: 08944664)

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.

Rentals paid 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 14,960 250,737 29,749
Additions 120,296 242,764 86,491
Disposals - (114,703 ) (25,821 )
At 31 March 2024 135,256 378,798 90,419
DEPRECIATION
At 1 April 2023 14,960 220,198 25,759
Charge for year 6,014 66,354 21,945
Eliminated on disposal - (103,306 ) (23,033 )
At 31 March 2024 20,974 183,246 24,671
NET BOOK VALUE
At 31 March 2024 114,282 195,552 65,748
At 31 March 2023 - 30,539 3,990

Chichester Cars Ltd (Registered number: 08944664)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 85,245 28,648 409,339
Additions - 22,641 472,192
Disposals (49,877 ) (19,183 ) (209,584 )
At 31 March 2024 35,368 32,106 671,947
DEPRECIATION
At 1 April 2023 21,278 20,809 303,004
Charge for year 13,447 6,770 114,530
Eliminated on disposal (18,723 ) (15,579 ) (160,641 )
At 31 March 2024 16,002 12,000 256,893
NET BOOK VALUE
At 31 March 2024 19,366 20,106 415,054
At 31 March 2023 63,967 7,839 106,335

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 - - 73,490 - 73,490
Additions 195,235 23,667 - 4,785 223,687
Transfer to ownership - - (50,122 ) - (50,122 )
At 31 March 2024 195,235 23,667 23,368 4,785 247,055
DEPRECIATION
At 1 April 2023 - - 19,073 - 19,073
Charge for year 48,808 5,917 5,269 1,196 61,190
Transfer to ownership - - (23,328 ) - (23,328 )
At 31 March 2024 48,808 5,917 1,014 1,196 56,935
NET BOOK VALUE
At 31 March 2024 146,427 17,750 22,354 3,589 190,120
At 31 March 2023 - - 54,417 - 54,417

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 106,528 289,320
Other debtors 220,890 282,145
327,418 571,465

Chichester Cars Ltd (Registered number: 08944664)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 42,734 12,500
Hire purchase contracts (see note 8) 49,347 13,673
Trade creditors 105,733 163,260
Taxation and social security 64,215 153,580
Other creditors 90,291 41,078
352,320 384,091

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 62,500 87,500
Hire purchase contracts (see note 8) 132,978 42,653
195,478 130,153

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 49,347 13,673
Between one and five years 132,978 42,653
182,325 56,326

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 100,500 43,789
Between one and five years 530,500 38,750
In more than five years 412,000 -
1,043,000 82,539

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A personal guarantee by the directors exists in respect to the bank overdraft.

Chichester Cars Ltd (Registered number: 08944664)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. RELATED PARTY DISCLOSURES

Included in Other Debtors is £168,000 (2023: £210,868) and a further £23,401 (2023: £51,075) included in Trade Debtors are amounts owed to the company by Squire Editions Ltd, a company with the same directors and shareholders as Chichester Cars Ltd.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Chichester Cars Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chichester Cars Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Chichester Cars Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chichester Cars Ltd and state those matters that we have agreed to state to the Board of Directors of Chichester Cars Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chichester Cars Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chichester Cars Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chichester Cars Ltd. You consider that Chichester Cars Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chichester Cars Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


24 July 2024