Cheviot Engineering Services Ltd 13877204 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is engineering related consulting activities. Digita Accounts Production Advanced 6.30.9574.0 true 13877204 2023-02-01 2024-01-31 13877204 2024-01-31 13877204 bus:Director1 1 2024-01-31 13877204 core:RetainedEarningsAccumulatedLosses 2024-01-31 13877204 core:ShareCapital 2024-01-31 13877204 core:CurrentFinancialInstruments 2024-01-31 13877204 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13877204 core:FurnitureFittings 2024-01-31 13877204 bus:SmallEntities 2023-02-01 2024-01-31 13877204 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13877204 bus:FilletedAccounts 2023-02-01 2024-01-31 13877204 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13877204 bus:RegisteredOffice 2023-02-01 2024-01-31 13877204 bus:Director1 2023-02-01 2024-01-31 13877204 bus:Director1 1 2023-02-01 2024-01-31 13877204 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13877204 bus:Agent1 2023-02-01 2024-01-31 13877204 core:FurnitureFittings 2023-02-01 2024-01-31 13877204 countries:England 2023-02-01 2024-01-31 13877204 2023-01-31 13877204 bus:Director1 1 2023-01-31 13877204 core:FurnitureFittings 2023-01-31 13877204 2022-01-27 2023-01-31 13877204 2023-01-31 13877204 core:RetainedEarningsAccumulatedLosses 2023-01-31 13877204 core:ShareCapital 2023-01-31 13877204 core:CurrentFinancialInstruments 2023-01-31 13877204 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13877204 core:FurnitureFittings 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13877204

Cheviot Engineering Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Cheviot Engineering Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

Accountants' Report

9

 

Cheviot Engineering Services Ltd

Company Information

Director

Mr James Robert Foster

Registered office

7 Bell Yard
London
WC2A 2JR

Accountants

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Cheviot Engineering Services Ltd

(Registration number: 13877204)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

414

324

Current assets

 

Stocks

5

-

1,406

Debtors

6

9,047

-

Cash at bank and in hand

 

1,680

19,741

 

10,727

21,147

Creditors: Amounts falling due within one year

7

(10,196)

(20,586)

Net current assets

 

531

561

Total assets less current liabilities

 

945

885

Provisions for liabilities

(79)

(62)

Net assets

 

866

823

Capital and reserves

 

Called up share capital

1

1

Retained earnings

865

822

Shareholders' funds

 

866

823

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2024
 

 

Cheviot Engineering Services Ltd

(Registration number: 13877204)
Balance Sheet as at 31 January 2024

.........................................
Mr James Robert Foster
Director

 

Cheviot Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Cheviot Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

Reducing Balance at 25%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Cheviot Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Cheviot Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2023

432

432

Additions

264

264

At 31 January 2024

696

696

Depreciation

At 1 February 2023

108

108

Charge for the year

174

174

At 31 January 2024

282

282

Carrying amount

At 31 January 2024

414

414

At 31 January 2023

324

324

5

Stocks

2024
£

2023
£

Work in progress

-

1,406

6

Debtors

Current

2024
£

2023
£

Trade debtors

6,750

-

Other debtors

2,297

-

 

9,047

-

 

Cheviot Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

10,196

9,487

Other creditors

-

11,099

10,196

20,586

8

Related party transactions

Transactions with directors

Debtors include the following amounts which are owed from individuals who were directors of the company during the year:

2024

At 1 February 2023
£

Advances to director
£

At 31 January 2024
£

Mr James Robert Foster

-

2,297

2,297

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

Year ended 31 January 2024
 £

27 January 2022 to 31 January 2023
 £

Mr James Foster

-

11,099

 

-

11,099

The maximum balance outstanding during the year amounted to £11,099.

The directors current account is repayable on demand.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Cheviot Engineering Services Ltd
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cheviot Engineering Services Ltd for the year ended 31 January 2024 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Cheviot Engineering Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Cheviot Engineering Services Ltd and state those matters that we have agreed to state to the Board of Directors of Cheviot Engineering Services Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cheviot Engineering Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cheviot Engineering Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Cheviot Engineering Services Ltd. You consider that Cheviot Engineering Services Ltd 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 accounts of Cheviot Engineering Services Ltd. 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 accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

30 October 2024