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Company No: SC100998 (Scotland)

A & P CHAMBERS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 OCTOBER 2022 TO 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

A & P CHAMBERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 OCTOBER 2022 TO 31 DECEMBER 2023

Contents

A & P CHAMBERS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
A & P CHAMBERS LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 31.12.2023 30.09.2022
£ £
Fixed assets
Tangible assets 3 133,962 139,522
133,962 139,522
Current assets
Stocks 117,153 86,417
Debtors 4 14,145 15,121
Cash at bank and in hand 65,941 159,029
197,239 260,567
Creditors: amounts falling due within one year 5 ( 73,458) ( 67,337)
Net current assets 123,781 193,230
Total assets less current liabilities 257,743 332,752
Provision for liabilities ( 5,532) ( 5,582)
Net assets 252,211 327,170
Capital and reserves
Called-up share capital 6 10,002 10,002
Profit and loss account 242,209 317,168
Total shareholders' funds 252,211 327,170

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of A & P Chambers Limited (registered number: SC100998) were approved and authorised for issue by the Board of Directors on 15 September 2024. They were signed on its behalf by:

Catriona Chambers
Director
A & P CHAMBERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 OCTOBER 2022 TO 31 DECEMBER 2023
A & P CHAMBERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 OCTOBER 2022 TO 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

A & P Chambers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Sonas, Nairnside, Inverness, IV2 5BU, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The reporting period has been extended by 3 months to 31 December 2023, therefore these financial statements present figures for a 15 month period.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised on an accruals basis.

Employee benefits

Short term benefits
The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
Payments to defined contribution retirement schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 3 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Plant and machinery are depreciated at a rate of 3 years straight line with certain qualifying assets being alternatively depreciated at 25% on a reducing balance basis.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

Stocks

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
01.10.2022 to
31.12.2023
Year ended
30.09.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 9 9

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 October 2022 188,384 79,510 2,123 270,017
Additions 0 1,982 0 1,982
At 31 December 2023 188,384 81,492 2,123 271,999
Accumulated depreciation
At 01 October 2022 54,302 74,070 2,123 130,495
Charge for the financial period 4,161 3,381 0 7,542
At 31 December 2023 58,463 77,451 2,123 138,037
Net book value
At 31 December 2023 129,921 4,041 0 133,962
At 30 September 2022 134,082 5,440 0 139,522

4. Debtors

31.12.2023 30.09.2022
£ £
Trade debtors 9,877 9,351
Corporation tax 989 0
Other debtors 3,279 5,770
14,145 15,121

5. Creditors: amounts falling due within one year

31.12.2023 30.09.2022
£ £
Trade creditors 13,367 11,452
Corporation tax 25 2,389
Other taxation and social security 15,322 24,851
Other creditors 44,744 28,645
73,458 67,337

6. Called-up share capital

31.12.2023 30.09.2022
£ £
Allotted, called-up and fully-paid
10,002 Ordinary shares of £ 1.00 each 10,002 10,002

7. Related party transactions

Transactions with the entity's directors

31.12.2023 30.09.2022
£ £
Director loan (debtor balance) 321 3,764

An advance was made to certain directors during the period for £321. The loan was interest free, and unsecured and was repaid after the period end.