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REGISTERED NUMBER: 03790748 (England and Wales)
















Financial Statements

for the Year Ended 30 June 2024

for

Chappell Engineering Limited

Chappell Engineering Limited (Registered number: 03790748)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Chappell Engineering Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs L M Chappell
J R Chappell
Mrs S Phillips
F Phillips





REGISTERED OFFICE: Unit 2 Brunel Way
Stonehouse
Gloucestershire
GL10 3SX





REGISTERED NUMBER: 03790748 (England and Wales)






Chappell Engineering Limited

Report of the Accountants to the Directors of
Chappell Engineering Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.








30 August 2024

Chappell Engineering Limited (Registered number: 03790748)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 3,348,939 3,549,069
3,348,940 3,549,070

CURRENT ASSETS
Stocks 370,299 314,301
Debtors 6 1,179,828 1,102,656
Cash at bank and in hand 768,232 116,056
2,318,359 1,533,013
CREDITORS
Amounts falling due within one year 7 553,723 415,782
NET CURRENT ASSETS 1,764,636 1,117,231
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,113,576

4,666,301

CREDITORS
Amounts falling due after more than
one year

8

(41,911

)

(61,981

)

PROVISIONS FOR LIABILITIES (463,787 ) (513,819 )
NET ASSETS 4,607,878 4,090,501

Chappell Engineering Limited (Registered number: 03790748)

Balance Sheet - continued
30 June 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 4,606,878 4,089,501
4,607,878 4,090,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

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 30 August 2024 and were signed on its behalf by:





J R Chappell - Director


Chappell Engineering Limited (Registered number: 03790748)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Chappell Engineering 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Chappell Engineering Limited (Registered number: 03790748)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 1
NET BOOK VALUE
At 30 June 2024 1
At 30 June 2023 1

Chappell Engineering Limited (Registered number: 03790748)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2023 665,100 828,692 4,249,290
Additions - - 7,821
At 30 June 2024 665,100 828,692 4,257,111
DEPRECIATION
At 1 July 2023 - - 2,220,702
Charge for year - - 203,641
At 30 June 2024 - - 2,424,343
NET BOOK VALUE
At 30 June 2024 665,100 828,692 1,832,768
At 30 June 2023 665,100 828,692 2,028,588

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 31,232 35,583 137,293 5,947,190
Additions - - 7,757 15,578
At 30 June 2024 31,232 35,583 145,050 5,962,768
DEPRECIATION
At 1 July 2023 21,222 32,999 123,198 2,398,121
Charge for year 1,001 646 10,420 215,708
At 30 June 2024 22,223 33,645 133,618 2,613,829
NET BOOK VALUE
At 30 June 2024 9,009 1,938 11,432 3,348,939
At 30 June 2023 10,010 2,584 14,095 3,549,069

Chappell Engineering Limited (Registered number: 03790748)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,012,235 945,906
Other debtors 167,593 156,750
1,179,828 1,102,656

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,562 18,816
Trade creditors 194,932 192,154
Taxation and social security 277,301 42,568
Other creditors 59,928 162,244
553,723 415,782

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 41,911 61,981

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mrs L M Chappell
Balance outstanding at start of year - 80
Amounts repaid - (80 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Chappell Engineering Limited (Registered number: 03790748)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J R Chappell
Balance outstanding at start of year - 570
Amounts repaid - (570 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs S Phillips
Balance outstanding at start of year 1,095 1,935
Amounts advanced 1,991 -
Amounts repaid (2,433 ) (840 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 653 1,095

F Phillips
Balance outstanding at start of year - -
Amounts advanced 1,628 -
Amounts repaid (1,379 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 249 -