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REGISTERED NUMBER: 13962049 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Chestfield Cars Ltd

Chestfield Cars Ltd (Registered number: 13962049)

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

Report of the Accountants 7

Chestfield Cars Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: P E Wells
Mrs F B Wells





REGISTERED OFFICE: 9 Pye Alley Lane
Whitstable
Kent
CT5 3AU





REGISTERED NUMBER: 13962049 (England and Wales)





ACCOUNTANTS: MPH Accountancy and Business Advisors Ltd
99 Canterbury Road
Whitstable
Kent
CT5 4HG

Chestfield Cars Ltd (Registered number: 13962049)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,000 25,500
Tangible assets 5 5,610 2,863
22,610 28,363

CURRENT ASSETS
Debtors 6 2,426 -
Cash at bank 10,783 22,911
13,209 22,911
CREDITORS
Amounts falling due within one year 7 23,088 38,161
NET CURRENT LIABILITIES (9,879 ) (15,250 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,731

13,113

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 12,631 13,013
SHAREHOLDERS' FUNDS 12,731 13,113

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.

Chestfield Cars Ltd (Registered number: 13962049)

Balance Sheet - continued
31 March 2024


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 23 August 2024 and were signed on its behalf by:





P E Wells - Director


Chestfield Cars Ltd (Registered number: 13962049)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Chestfield Cars Ltd 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 2023, is being amortised evenly over its estimated useful life of four years.

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

Fixtures & Fittings - 25% Reducing balance on cost
Computer Equipment - 33% Straight line over 3 years

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

Chestfield Cars Ltd (Registered number: 13962049)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 34,000
AMORTISATION
At 1 April 2023 8,500
Amortisation for year 8,500
At 31 March 2024 17,000
NET BOOK VALUE
At 31 March 2024 17,000
At 31 March 2023 25,500

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 2,015 2,028 4,043
Additions 1,558 2,177 3,735
At 31 March 2024 3,573 4,205 7,778
DEPRECIATION
At 1 April 2023 504 676 1,180
Charge for year 460 528 988
At 31 March 2024 964 1,204 2,168
NET BOOK VALUE
At 31 March 2024 2,609 3,001 5,610
At 31 March 2023 1,511 1,352 2,863

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,426 -

Chestfield Cars Ltd (Registered number: 13962049)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,750 1,603
Tax - 3,170
Social security and other taxes 456 -
Directors' current accounts 16,614 27,434
Accruals and deferred income 4,268 5,954
23,088 38,161

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 ORDINARY 1.00 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2023 13,013
Deficit for the year (382 )
At 31 March 2024 12,631

Chestfield Cars Ltd

Report of the Accountants to the Directors of
Chestfield Cars Ltd


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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






MPH Accountancy and Business Advisors Ltd
99 Canterbury Road
Whitstable
Kent
CT5 4HG


23 August 2024