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Registered number: 08922972
Chalkwell Park Motors Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Clouders (Audit & Accounts) Ltd
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08922972
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 29,870
Tangible Assets 5 172,052 147,098
172,052 176,968
CURRENT ASSETS
Stocks 6 3,500 -
Debtors 7 5,315 3,348
Cash at bank and in hand 87,204 126,075
96,019 129,423
Creditors: Amounts Falling Due Within One Year 8 (303,184 ) (316,500 )
NET CURRENT ASSETS (LIABILITIES) (207,165 ) (187,077 )
TOTAL ASSETS LESS CURRENT LIABILITIES (35,113 ) (10,109 )
NET LIABILITIES (35,113 ) (10,109 )
CAPITAL AND RESERVES
Called up share capital 9 1,001 1,001
Profit and Loss Account (36,114 ) (11,110 )
SHAREHOLDERS' FUNDS (35,113) (10,109)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Graham Hutchinson
Director
24/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Chalkwell Park Motors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08922972 . The registered office is Charter House, 103-105 Leigh Road, Leigh on Sea, Essex, SS9 1JL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The business continues to be supported by the directors.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on cost
2.6. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2023 301,708 7,000 308,708
As at 31 March 2024 301,708 7,000 308,708
Amortisation
As at 1 April 2023 271,838 7,000 278,838
Provided during the period 29,870 - 29,870
As at 31 March 2024 301,708 7,000 308,708
Net Book Value
As at 31 March 2024 - - -
As at 1 April 2023 29,870 - 29,870
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 10,357 271,857 1,335 283,549
Additions - 90,935 - 90,935
Disposals - (27,141 ) - (27,141 )
As at 31 March 2024 10,357 335,651 1,335 347,343
Depreciation
As at 1 April 2023 8,414 126,702 1,335 136,451
Provided during the period 526 57,124 - 57,650
Disposals - (18,810 ) - (18,810 )
As at 31 March 2024 8,940 165,016 1,335 175,291
Net Book Value
As at 31 March 2024 1,417 170,635 - 172,052
As at 1 April 2023 1,943 145,155 - 147,098
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6. Stocks
2024 2023
£ £
Stock 3,500 -
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,170 580
Prepayments and accrued income 3,905 2,768
VAT 240 -
5,315 3,348
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,005 5,761
Corporation tax 80 80
VAT - 10,709
Other creditors - 68,813
Accruals and deferred income 2,625 2,500
Directors' loan accounts 292,474 228,637
303,184 316,500
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,001 1,001
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