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REGISTERED NUMBER: 05889020 (England and Wales)















Chase Commercial Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Chase Commercial Limited (Registered number: 05889020)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Chase Commercial Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Ms G J Ackrill
Mr J K Retallack
Mr J R Meredith
Mr D J Parker





REGISTERED OFFICE: 19-20 Vine Street
Evesham
Worcestershire
WR11 4RL





REGISTERED NUMBER: 05889020 (England and Wales)





ACCOUNTANTS: Grenfell James Associates Limited
13 The Courtyard
Timothys Bridge Road
Stratford upon Avon
Warwickshire
CV37 9NP

Chase Commercial Limited (Registered number: 05889020)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 187,280 188,835
Investments 5 100 50
187,380 188,885

CURRENT ASSETS
Stocks 311,260 9,628,199
Debtors 6 671,227 1,770,693
Cash at bank 1,560,522 2,412,829
2,543,009 13,811,721
CREDITORS
Amounts falling due within one year 7 2,156,173 13,877,018
NET CURRENT ASSETS/(LIABILITIES) 386,836 (65,297 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

574,216

123,588

CREDITORS
Amounts falling due after more than one
year

8

(30,091

)

(35,652

)

PROVISIONS FOR LIABILITIES (886 ) -
NET ASSETS 543,239 87,936

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 542,239 86,936
SHAREHOLDERS' FUNDS 543,239 87,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Chase Commercial Limited (Registered number: 05889020)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





Mr J R Meredith - Director


Chase Commercial Limited (Registered number: 05889020)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Chase Commercial Limited 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 comprises revenue recognised by the company in respect of management and licence fees and profit share agreements during the year, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Chase Commercial Limited (Registered number: 05889020)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 182,619 4,418 9,653 196,690
DEPRECIATION
At 1 January 2023 - 2,784 5,071 7,855
Charge for year - 409 1,146 1,555
At 31 December 2023 - 3,193 6,217 9,410
NET BOOK VALUE
At 31 December 2023 182,619 1,225 3,436 187,280
At 31 December 2022 182,619 1,634 4,582 188,835

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 January 2023 50
Additions 50
At 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 50

Joint Venture

The Joint venture comprises a shareholding in Chase-Reynes (Gloucester) Ltd, a company incorporated in the United Kingdom, with 100 ordinary shares.

Chase Commercial Limited (Registered number: 05889020)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,059 1,456,541
Other debtors 656,168 314,152
671,227 1,770,693

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 49,049 1,685,058
Amounts owed to participating interests - 50
Taxation and social security 103,255 1,003,255
Other creditors 1,998,313 11,183,099
2,156,173 13,877,018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 30,091 35,652

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,871 13,429

9. RELATED PARTY DISCLOSURES

G J Ackrill and J R Meredith are directors of Chase Commercial Gloucester Limited, a company that Chase Commercial Limited has entered into a joint venture agreement with.

At 31 December 2023 the company was owed £649,446 (2022: £250,000) by Chase Commercial Gloucester Limited.This is repayable upon demand.