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
CHIEF GRIPS LTD
Company Information
for the year ended 31 July 2024
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
CHIEF GRIPS LTD
Statement of financial position
as at 31 July 2024
Tangible assets
23,912
30,931
Cash at bank and in hand
82,315
163,761
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)
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
CHIEF GRIPS LTD
Notes to the Accounts
for the year ended 31 July 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
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
At 31 July 2024
138,217
33,810
172,027
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
At 31 July 2024
3,626
20,286
23,912
At 31 July 2023
3,883
27,048
30,931
Amounts falling due within one year
Trade debtors
23,040
13,619
7
Creditors: amounts falling due within one year
2024
2023
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
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
4,713
13,837
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.
The company is controlled by J . Flemming, the directors, and S Flemming by virtue of their shareholdings.
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).