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REGISTERED NUMBER: 02068614 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Chew Valley Construction Limited

Chew Valley Construction Limited (Registered number: 02068614)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chew Valley Construction Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr J Kelly
Mrs J Manning





SECRETARY: Mrs J Manning





REGISTERED OFFICE: Unit 2 95 Church Road
Bishopsworth
Bristol
BS13 8JU





REGISTERED NUMBER: 02068614 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Chew Valley Construction Limited (Registered number: 02068614)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 381,000 225,774

CURRENT ASSETS
Stocks 13,335 12,231
Debtors 5 549,959 593,569
Cash at bank and in hand 1,024,494 1,082,372
1,587,788 1,688,172
CREDITORS
Amounts falling due within one year 6 504,932 560,660
NET CURRENT ASSETS 1,082,856 1,127,512
TOTAL ASSETS LESS CURRENT LIABILITIES 1,463,856 1,353,286

PROVISIONS FOR LIABILITIES 102,560 72,958
NET ASSETS 1,361,296 1,280,328

CAPITAL AND RESERVES
Called up share capital 90 90
Capital redemption reserve 10 10
Retained earnings 1,361,196 1,280,228
1,361,296 1,280,328

Chew Valley Construction Limited (Registered number: 02068614)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





Mrs J Manning - Director


Chew Valley Construction Limited (Registered number: 02068614)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Chew Valley Construction 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.

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.

There have been no material departures from the Financial Reporting Standard 102 1A.

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

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property- 20% on cost
Fixtures and fittings- 25% on cost
Motor vehicles- 25% on cost

Government grants
Government grants have been recognised on an accruals basis and have been recognised in the same period in which the related expense has been incurred.

Chew Valley Construction Limited (Registered number: 02068614)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads incurred in bringing inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Chew Valley Construction Limited (Registered number: 02068614)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 41,145 112,091 519,752 672,988
Additions - 11,992 244,686 256,678
Disposals - - (85,705 ) (85,705 )
At 31 March 2024 41,145 124,083 678,733 843,961
DEPRECIATION
At 1 April 2023 41,145 100,028 306,041 447,214
Charge for year - 6,408 93,669 100,077
Eliminated on disposal - - (84,330 ) (84,330 )
At 31 March 2024 41,145 106,436 315,380 462,961
NET BOOK VALUE
At 31 March 2024 - 17,647 363,353 381,000
At 31 March 2023 - 12,063 213,711 225,774

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 477,818 522,068
Other debtors 72,141 71,501
549,959 593,569

Chew Valley Construction Limited (Registered number: 02068614)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 269,110 248,075
Taxation and social security 92,314 165,745
Other creditors 143,508 146,840
504,932 560,660

7. OTHER FINANCIAL COMMITMENTS

Included in the balance sheet are pensions payable of £3,722 (2023 - £3,706). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

8. RELATED PARTY DISCLOSURES

Loans to related parties



Key
management


Total
2024 £ £
At start of period 3,918 3,918
Advanced 19,657 19,657
Repaid (23,575 ) (23,575 )
At end of period - -


Key
management


Total
2023 £ £
At start of the period 4,230 4,230
Advanced 133,500 133,500
Repaid (133,812 ) (133,812 )
At end of period 3,918 3,918

The loans to key management are repayable on demand and interest is charged on loan balances owing to the company that exceed £10,000. Interest is charged at the HMRC prevailing rate.

Chew Valley Construction Limited (Registered number: 02068614)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. RELATED PARTY DISCLOSURES - continued

Loans from related parties



Key
management


Total
2024 £ £
At start of period 624 624
Advanced 4,049 4,049
Repaid (2,983 ) (2,983 )
At end of period 1,690 1,690


Key
management


Total
2023 £ £
At start of the period 37,886 37,886
Advanced 17,000 17,000
Repaid (27,132 ) (27,132 )
At end of period 624 624

The loans from key management are interest free and repayable on demand.