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REGISTERED NUMBER: 04704248 (England and Wales)


























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CHILTERN INVADEX (UK) LTD

CHILTERN INVADEX (UK) LTD (REGISTERED NUMBER: 04704248)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CHILTERN INVADEX (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M Benyon
Mr R J J Fox
Mr M A Willoughby
Mr V P Cartwright
Mrs J A Ball



SECRETARY: Mr M Benyon



REGISTERED OFFICE: Lancots Lane
Sutton
St Helens
Merseyside
WA9 3EX



REGISTERED NUMBER: 04704248 (England and Wales)



AUDITORS: Livesey Spottiswood Ltd
Chartered Accountants and
Statutory Auditors
17 George Street
St Helens
Merseyside
WA10 1DB



BANKERS: Lloyds TSB Plc
23A Hardshaw Street
St Helens
Merseyside
WA10 1RT

CHILTERN INVADEX (UK) LTD (REGISTERED NUMBER: 04704248)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 147,471 94,842
147,471 94,842

CURRENT ASSETS
Stocks 902,881 793,983
Debtors 6 1,134,219 1,109,080
Cash at bank and in hand 365,361 188,130
2,402,461 2,091,193
CREDITORS
Amounts falling due within one year 7 (1,231,642 ) (898,884 )
NET CURRENT ASSETS 1,170,819 1,192,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,318,290

1,287,151

PROVISIONS FOR LIABILITIES (27,250 ) (10,500 )
NET ASSETS 1,291,040 1,276,651

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,290,940 1,276,551
SHAREHOLDERS' FUNDS 1,291,040 1,276,651

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 10 September 2024 and were signed on its behalf by:




Mr M Benyon - Director



Mr R J J Fox - Director


CHILTERN INVADEX (UK) LTD (REGISTERED NUMBER: 04704248)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Chiltern Invadex (UK) 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.

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Judgements in key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimate will, by definition, seldom equal the actual results. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year is in respect of the provision against stock.

The company sell items which can become obsolete. As a result it is necessary to consider the recoverability of the cost of stock and the associated provision required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from service and installation work is recognised using the percentage of completion method.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Plant and machinery-15% on cost
Motor vehicles-25% on cost

Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

CHILTERN INVADEX (UK) LTD (REGISTERED NUMBER: 04704248)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all direct production costs, costs of conversion and other costs incurred in bringing stock to it's present location and condition. Cost is calculated using the average cost formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Employee benefits
When employees have rendered services to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 28 ) .

CHILTERN INVADEX (UK) LTD (REGISTERED NUMBER: 04704248)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 66,002
AMORTISATION
At 1 January 2023
and 31 December 2023 66,002
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 284,037
Additions 107,104
Disposals (48,773 )
At 31 December 2023 342,368
DEPRECIATION
At 1 January 2023 189,195
Charge for year 45,844
Eliminated on disposal (40,142 )
At 31 December 2023 194,897
NET BOOK VALUE
At 31 December 2023 147,471
At 31 December 2022 94,842

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 611,310 525,360
Other debtors 522,909 583,720
1,134,219 1,109,080

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 198,591 224,880
Taxation and social security 26,945 51,752
Other creditors 1,006,106 622,252
1,231,642 898,884

CHILTERN INVADEX (UK) LTD (REGISTERED NUMBER: 04704248)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,333 3,333

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Amounts due to group companies 235,662 95,662

There is a debenture in place with the parent company Holmpatrick Limited in the form of a fixed and floating charge over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Andrew McMinnis FCA FCCA (Senior Statutory Auditor)
for and on behalf of Livesey Spottiswood Ltd

12. CONTINGENT LIABILITIES

The company has entered into an inter-company bank guarantee with other group companies of up to £750,000 gross or £100,000 net. The net indebtedness of the other group companies at 31 December 2023 was £Nil (2022 - £183,619).

13. ULTIMATE PARENT COMPANY

The company's ultimate parent company is Holmpatrick Limited, a company incorporated in England and Wales. The registered office of Holmpatrick Limited is Lancots Lane, Sutton, St Helens, WA9 3EX.

14. PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.