Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity2319falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04693624 2023-04-01 2024-03-31 04693624 2022-04-01 2023-03-31 04693624 2024-03-31 04693624 2023-03-31 04693624 c:Director1 2023-04-01 2024-03-31 04693624 c:Director2 2023-04-01 2024-03-31 04693624 d:MotorVehicles 2023-04-01 2024-03-31 04693624 d:MotorVehicles 2024-03-31 04693624 d:MotorVehicles 2023-03-31 04693624 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04693624 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04693624 d:FurnitureFittings 2023-04-01 2024-03-31 04693624 d:FurnitureFittings 2024-03-31 04693624 d:FurnitureFittings 2023-03-31 04693624 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04693624 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04693624 d:OfficeEquipment 2023-04-01 2024-03-31 04693624 d:OfficeEquipment 2024-03-31 04693624 d:OfficeEquipment 2023-03-31 04693624 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04693624 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04693624 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04693624 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04693624 d:Goodwill 2023-04-01 2024-03-31 04693624 d:Goodwill 2024-03-31 04693624 d:Goodwill 2023-03-31 04693624 d:CurrentFinancialInstruments 2024-03-31 04693624 d:CurrentFinancialInstruments 2023-03-31 04693624 d:Non-currentFinancialInstruments 2024-03-31 04693624 d:Non-currentFinancialInstruments 2023-03-31 04693624 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04693624 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04693624 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 04693624 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04693624 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 04693624 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 04693624 d:ShareCapital 2024-03-31 04693624 d:ShareCapital 2023-03-31 04693624 d:RetainedEarningsAccumulatedLosses 2024-03-31 04693624 d:RetainedEarningsAccumulatedLosses 2023-03-31 04693624 c:FRS102 2023-04-01 2024-03-31 04693624 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04693624 c:FullAccounts 2023-04-01 2024-03-31 04693624 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04693624 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 04693624 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 04693624 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 04693624 d:WithinOneYear 2024-03-31 04693624 d:WithinOneYear 2023-03-31 04693624 d:BetweenOneFiveYears 2024-03-31 04693624 d:BetweenOneFiveYears 2023-03-31 04693624 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 04693624 2 2023-04-01 2024-03-31 04693624 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 04693624 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 04693624 d:LeasedAssetsHeldAsLessee 2024-03-31 04693624 d:LeasedAssetsHeldAsLessee 2023-03-31 04693624 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 04693624 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 04693624










CHAPEL DOORS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CHAPEL DOORS LIMITED
REGISTERED NUMBER: 04693624

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
17,833
20,382

Tangible assets
 5 
136,461
171,646

  
154,294
192,028

Current assets
  

Stocks
  
59,000
45,000

Debtors: amounts falling due within one year
 6 
308,314
284,870

Cash at bank and in hand
  
3,485
52,078

  
370,799
381,948

Creditors: amounts falling due within one year
 7 
(327,489)
(281,207)

Net current assets
  
 
 
43,310
 
 
100,741

Total assets less current liabilities
  
197,604
292,769

Creditors: amounts falling due after more than one year
 8 
(51,137)
(97,620)

Provisions for liabilities
  

Deferred tax
  
(37,137)
(46,288)

  
 
 
(37,137)
 
 
(46,288)

Net assets
  
109,330
148,861


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
109,230
148,761

  
109,330
148,861

Page 1

 
CHAPEL DOORS LIMITED
REGISTERED NUMBER: 04693624
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 September 2024.




Phillip Allan Neame Ramsay
Jayne Ramsay
Director
Director

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
CHAPEL DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Chapel Doors Limited is a private company limited by shares and incorporated in England and Wales, registration number 04693624. The registered office is Unit 21 Court Industrial Estate, Vinces Road, Diss, Norfolk, IP22 4BF.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
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.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CHAPEL DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
CHAPEL DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Income statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

Page 5

 
CHAPEL DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2023 - 19).

Page 6

 
CHAPEL DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
50,970



At 31 March 2024

50,970



Amortisation


At 1 April 2023
30,588


Charge for the year on owned assets
2,549



At 31 March 2024

33,137



Net book value



At 31 March 2024
17,833



At 31 March 2023
20,382



Page 7

 
CHAPEL DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Motor vehicles
Fittings and plant
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
362,932
50,372
27,910
441,214


Additions
12,700
8,374
1,976
23,050


Disposals
(12,700)
-
-
(12,700)



At 31 March 2024

362,932
58,746
29,886
451,564



Depreciation


At 1 April 2023
213,982
31,088
24,498
269,568


Charge for the year on owned assets
4,612
6,945
1,348
12,905


Charge for the year on financed assets
32,630
-
-
32,630



At 31 March 2024

251,224
38,033
25,846
315,103



Net book value



At 31 March 2024
111,708
20,713
4,040
136,461



At 31 March 2023
148,950
19,284
3,412
171,646

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
97,874
130,504

97,874
130,504

Page 8

 
CHAPEL DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
294,552
274,129

Other debtors
3,051
800

Prepayments and accrued income
10,711
9,941

308,314
284,870



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
25,177
-

CBILS loan
17,500
17,500

Trade creditors
184,781
149,879

Corporation tax
14,386
20,513

Other taxation and social security
45,022
24,060

Obligations under finance lease and hire purchase contracts
34,512
51,485

Other creditors
3,531
15,190

Accruals and deferred income
2,580
2,580

327,489
281,207


The following liabilities were secured:

2024
2023
£
£



Hire Purchase
34,513
51,485

34,513
51,485

Details of security provided:

Hire purchase agreements are secured on the assets to which they relate.
The bank overdraft is secured by a fixed and floating charge over over all property and assets of the company.

Page 9

 
CHAPEL DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

CBILS loan
2,917
20,417

Net obligations under finance leases and hire purchase contracts
48,220
77,203

51,137
97,620


The following liabilities were secured:

2024
2023
£
£



Hire Purchase
48,220
77,202

48,220
77,202

Details of security provided:

Hire purchase agreements are secured on the asset to which they relate.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
17,500
17,500


17,500
17,500

Amounts falling due 1-2 years

Other loans
2,917
20,417


2,917
20,417



20,417
37,917


Page 10

 
CHAPEL DOORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
34,513
51,485

Between 1-5 years
43,920
77,203

78,433
128,688


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £21,373 (2023 - £20,353).


12.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
38,765
41,279

Later than 1 year and not later than 5 years
61,444
100,209

100,209
141,488


13.


Transactions with directors

During the year the company loaned monies to the directors. At the year end the directors owed £3,051 to the company (2023: £12,001 owed by the company).
The loans were provided on an interest free basis.

 
Page 11