Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29No description of principal activity2023-03-01false89truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01173871 2023-03-01 2024-02-29 01173871 2022-03-01 2023-02-28 01173871 2024-02-29 01173871 2023-02-28 01173871 2022-03-01 01173871 c:Director2 2023-03-01 2024-02-29 01173871 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-29 01173871 d:Buildings d:LongLeaseholdAssets 2024-02-29 01173871 d:Buildings d:LongLeaseholdAssets 2023-02-28 01173871 d:MotorVehicles 2023-03-01 2024-02-29 01173871 d:MotorVehicles 2024-02-29 01173871 d:MotorVehicles 2023-02-28 01173871 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 01173871 d:FurnitureFittings 2023-03-01 2024-02-29 01173871 d:FurnitureFittings 2024-02-29 01173871 d:FurnitureFittings 2023-02-28 01173871 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 01173871 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 01173871 d:CurrentFinancialInstruments 2024-02-29 01173871 d:CurrentFinancialInstruments 2023-02-28 01173871 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 01173871 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 01173871 d:ShareCapital 2024-02-29 01173871 d:ShareCapital 2023-02-28 01173871 d:RetainedEarningsAccumulatedLosses 2024-02-29 01173871 d:RetainedEarningsAccumulatedLosses 2023-02-28 01173871 c:FRS102 2023-03-01 2024-02-29 01173871 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 01173871 c:FullAccounts 2023-03-01 2024-02-29 01173871 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 01173871 d:WithinOneYear 2024-02-29 01173871 d:WithinOneYear 2023-02-28 01173871 d:BetweenOneFiveYears 2024-02-29 01173871 d:BetweenOneFiveYears 2023-02-28 01173871 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 01173871 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 01173871 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 01173871










E. FLETCHER (CHESTERFIELD) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
E. FLETCHER (CHESTERFIELD) LIMITED
REGISTERED NUMBER: 01173871

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
183,449
189,872

Current assets
  

Stocks
  
323,532
383,209

Debtors: amounts falling due within one year
 5 
231,996
188,473

Cash at bank and in hand
  
115,003
166,661

  
670,531
738,343

Creditors: amounts falling due within one year
 6 
(77,966)
(67,921)

Net current assets
  
 
 
592,565
 
 
670,422

Total assets less current liabilities
  
776,014
860,294

Provisions for liabilities
  

Deferred tax
 7 
(2,788)
(3,921)

Net assets
  
773,226
856,373


Capital and reserves
  

Called up share capital 
  
2,000
2,000

Profit and loss account
  
771,226
854,373

  
773,226
856,373


Page 1

 
E. FLETCHER (CHESTERFIELD) LIMITED
REGISTERED NUMBER: 01173871
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 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 statement of income and retained earnings 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 7 November 2024.





A C Pickford
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
E. FLETCHER (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

E. Fletcher (Chesterfield) Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 01173871). Its registered office is Turnoaks Business Park, Burley Close, Chesterfield, S40 2UB. The principal activity of the Company throughout the year continued to be that of suppliers of earth moving and vehicle spares.

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

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is pounds sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings.

 
2.3

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.

Page 3

 
E. FLETCHER (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

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, as follows.

The depreciation rates used are:

Longterm leasehold property
-
1% straight line basis over the term of the lease
Motor vehicles
-
25% reducing balance basis
Fixtures and fittings
-
20% 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 the Statement of Income and Retained Earnings.

 
2.5

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 Balance Sheet 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 the Statement of Income and Retained Earnings.

Page 4

 
E. FLETCHER (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings  on a straight line basis over the lease term.

 
2.8

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet 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 Balance Sheet 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.

Page 5

 
E. FLETCHER (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 9).


4.


Tangible fixed assets







Longterm leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 March 2023
225,606
10,021
120,094
355,721



At 29 February 2024

225,606
10,021
120,094
355,721



Depreciation


At 1 March 2023
54,886
3,283
107,680
165,849


Charge for the year on owned assets
2,255
1,685
2,483
6,423



At 29 February 2024

57,141
4,968
110,163
172,272



Net book value



At 29 February 2024
168,465
5,053
9,931
183,449



At 28 February 2023
170,720
6,738
12,414
189,872

Page 6

 
E. FLETCHER (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
213,736
155,169

Other debtors
18,260
33,304

231,996
188,473



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
15,129
5,189

Corporation tax
19,239
23,948

Other taxation and social security
17,698
9,929

Other creditors
25,900
28,855

77,966
67,921


Page 7

 
E. FLETCHER (CHESTERFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Deferred taxation






2024
2023


£

£






At beginning of year
3,921
4,073


Charged to the Statement of Income and Retained Earnings
(1,133)
(152)



At end of year
2,788
3,921

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
2,788
3,921

2,788
3,921


8.


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 £46,402 (2023: £46,840). Contributions totalling £490. (2023: £nil) were payable to the fund at the Balance Sheet date and are included in creditors.


9.


Commitments under operating leases

At 29 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

29 February
28 February
2024
2023
£
£


Not later than 1 year
13,764
13,764

Later than 1 year and not later than 5 years
2,793
4,556

16,557
18,320

The Company has entered into a 99 year lease with a rent review every five years. The commitment up to the next rent review is included in the figures above. In addition to this, there are a further 72 years remaining on this lease with a commitment of £12,000 per annum.

 
Page 8