1 August 2023 false No description of principal activity Taxfiler 2024.5 07314036business:PrivateLimitedCompanyLtd2023-08-012024-07-31 073140362023-07-31 073140362023-08-012024-07-31 07314036business:AuditExemptWithAccountantsReport2023-08-012024-07-31 07314036business:FilletedAccounts2023-08-012024-07-31 073140362024-07-31 07314036business:Director12023-08-012024-07-31 07314036business:CompanySecretary12023-08-012024-07-31 07314036business:RegisteredOffice2023-08-012024-07-31 073140362023-07-31 07314036core:WithinOneYear2024-07-31 07314036core:WithinOneYear2023-07-31 07314036core:AfterOneYear2024-07-31 07314036core:AfterOneYear2023-07-31 07314036core:ShareCapitalcore:PreviouslyStatedAmount2024-07-31 07314036core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 07314036core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-07-31 07314036core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 07314036core:PreviouslyStatedAmount2024-07-31 07314036core:PreviouslyStatedAmount2023-07-31 07314036business:SmallEntities2023-08-012024-07-31 07314036countries:EnglandWales2023-08-012024-07-31 07314036core:PlantMachinery2023-08-012024-07-31 07314036core:MotorVehicles2023-08-012024-07-31 07314036core:Goodwill2023-07-31 07314036core:Goodwill2024-07-31 07314036core:PlantMachinery2023-07-31 07314036core:MotorVehicles2023-07-31 07314036core:PlantMachinery2024-07-31 07314036core:MotorVehicles2024-07-31 073140362022-08-012023-07-31 iso4217:GBP xbrli:pure
Company Registration No. 07314036 (England and Wales)
CHIEF GRIPS LTD Unaudited accounts for the year ended 31 July 2024
CHIEF GRIPS LTD Unaudited accounts Contents
Page
- 2 -
CHIEF GRIPS LTD Company Information for the year ended 31 July 2024
Director
John Flemming
Secretary
Mrs June Susan Flemming
Company Number
07314036 (England and Wales)
Registered Office
8 Pinner View Harrow Middlesex HA0 4QP UK
Accountants
Majish 48a Bowrons Avenue Wembley Middlesex HA0 4QP
- 3 -
CHIEF GRIPS LTD Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,912 
30,931 
Current assets
Debtors
23,040 
13,619 
Cash at bank and in hand
82,315 
163,761 
105,355 
177,380 
Creditors: amounts falling due within one year
(124,271)
(150,502)
Net current (liabilities)/assets
(18,916)
26,878 
Total assets less current liabilities
4,996 
57,809 
Creditors: amounts falling due after more than one year
(4,713)
(13,837)
Net assets
283 
43,972 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
183 
43,872 
Shareholders' funds
283 
43,972 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 August 2024 and were signed on its behalf by
John Flemming Director Company Registration No. 07314036
- 4 -
CHIEF GRIPS LTD Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
CHIEF GRIPS LTD is a private company, limited by shares, registered in England and Wales, registration number 07314036. The registered office is 8 Pinner View, Harrow, Middlesex, HA0 4QP, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line over 5 years
Motor vehicles
Straight Line over 5 years
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
60,000 
At 31 July 2024
60,000 
Amortisation
At 1 August 2023
60,000 
At 31 July 2024
60,000 
Net book value
At 31 July 2024
- 
- 5 -
CHIEF GRIPS LTD Notes to the Accounts for the year ended 31 July 2024
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2023
133,035 
33,810 
166,845 
Additions
5,182 
- 
5,182 
At 31 July 2024
138,217 
33,810 
172,027 
Depreciation
At 1 August 2023
129,152 
6,762 
135,914 
Charge for the year
5,439 
6,762 
12,201 
At 31 July 2024
134,591 
13,524 
148,115 
Net book value
At 31 July 2024
3,626 
20,286 
23,912 
At 31 July 2023
3,883 
27,048 
30,931 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
23,040 
13,619 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
10,180 
15,102 
Obligations under finance leases and hire purchase contracts
4,516 
- 
Trade creditors
1,402 
3,046 
Taxes and social security
9,035 
39,333 
Loans from directors
97,773 
91,261 
Accruals
1,365 
1,760 
124,271 
150,502 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
4,713 
13,837 
9
Loans to directors
Amounts due to directors at the balance sheet date is £97,773 (2023: £91,261). The balance arose as a series of small loans. During the period expenses were paid by the director on behalf of the business and were subsequently reimbursed. No guarantees have been given or accepted.
10
Controlling party
The company is controlled by J . Flemming, the directors, and S Flemming by virtue of their shareholdings.
- 6 -
CHIEF GRIPS LTD Notes to the Accounts for the year ended 31 July 2024
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).
- 7 -