1 February 2023 v2024.58.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsexbrli:purexbrli:sharesiso4217:GBP028282652023-02-012024-01-31028282652024-01-3102828265bus:Director12023-02-012024-01-3102828265bus:Director22023-02-012024-01-3102828265bus:Director32023-02-012024-01-3102828265bus:Director42023-02-012024-01-3102828265bus:CompanySecretaryDirector12023-02-012024-01-3102828265bus:RegisteredOffice2023-02-012024-01-31028282652022-02-012023-01-31028282652023-01-3102828265core:WithinOneYear2024-01-3102828265core:WithinOneYear2023-01-3102828265core:AfterOneYear2024-01-3102828265core:AfterOneYear2023-01-3102828265core:ShareCapital2024-01-3102828265core:ShareCapital2023-01-3102828265core:RevaluationReserve2024-01-3102828265core:RevaluationReserve2023-01-3102828265core:RetainedEarningsAccumulatedLosses2024-01-3102828265core:RetainedEarningsAccumulatedLosses2023-01-3102828265core:ShareCapital2022-02-0102828265core:RetainedEarningsAccumulatedLosses2022-02-01028282652022-02-0102828265core:RevaluationReserve2022-02-012023-01-3102828265core:RetainedEarningsAccumulatedLosses2022-02-012023-01-3102828265core:ShareCapital2023-02-0102828265core:RevaluationReserve2023-02-0102828265core:RetainedEarningsAccumulatedLosses2023-02-01028282652023-02-0102828265core:RetainedEarningsAccumulatedLosses2023-02-012024-01-3102828265core:LandBuildings2023-02-012024-01-3102828265core:PlantMachinery2023-02-012024-01-3102828265core:MotorVehicles2023-02-012024-01-3102828265core:OfficeEquipment2023-02-012024-01-3102828265core:LandBuildings2023-02-0102828265core:PlantMachinery2023-02-0102828265core:LandBuildings2024-01-3102828265core:PlantMachinery2024-01-3102828265core:LandBuildings2023-01-3102828265core:PlantMachinery2023-01-310282826512023-02-012024-01-3102828265countries:EnglandWales2023-02-012024-01-3102828265bus:AuditExemptWithAccountantsReport2023-02-012024-01-3102828265bus:PrivateLimitedCompanyLtd2023-02-012024-01-3102828265bus:SmallEntities2023-02-012024-01-3102828265bus:FullAccounts2023-02-012024-01-31
Company registration number:
02828265
North Cheshire Holdings Limited
Unaudited Financial Statements for the year ended
31 January 2024
Gardiner Russell Accounting Limited
Chartered Accountants
1st Floor, 2 Castle Buildings, 147-149 Telegraph Road, Heswall, Wirral, Merseyside, CH60 7SE, United Kingdom
North Cheshire Holdings Limited
Officers and Professional Advisers
Year ended
31 January 2024
Directors
Mr G Heywood
Mr P Hayes
Mr C Valentine
Mr S Heywood
Company secretary
Mr G Heywood
Registered office
North Cheshire House
Kelvin Close
Birchwood, Warrington
Cheshire
WA3 7PB
United Kingdom
Accountant
Gardiner Russell Accounting Limited
Chartered Accountants
1st Floor, 2 Castle Buildings
147-149 Telegraph Road, Heswall
Wirral
Merseyside
CH60 7SE
United Kingdom
North Cheshire Holdings Limited
Directors' Report
Year ended
31 January 2024
The directors present their report and the unaudited
financial statements
of the company for the year ended 31 January 2024.

Directors

The directors who served the company during the year were as follows:
Mr G Heywood
Mr P Hayes
Mr C Valentine
Mr S Heywood

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
12 August 2024
and signed on behalf of the board by:
Mr G Heywood
Director
North Cheshire Holdings Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of North Cheshire Holdings Limited
Year ended
31 January 2024
As described on the statement of financial position, the Board of Directors of
North Cheshire Holdings Limited
are responsible for the preparation of the
financial statements
for the year ended
31 January 2024
, which comprise the income statement, statement of total comprehensive income, statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
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 from information and explanations supplied to us.
Gardiner Russell Accounting Limited
Chartered Accountants
1st Floor, 2 Castle Buildings
147-149 Telegraph Road, Heswall
Wirral
Merseyside
CH60 7SE
United Kingdom
Date:
12 August 2024
North Cheshire Holdings Limited
Income Statement
Year ended
31 January 2024
20242023
££
Turnover
14,940,442
 
10,995,137
 
Cost of sales
(13,217,361
) (9,244,739 )
Gross profit
1,723,081
 
1,750,398
 
Distribution costs
(10,544
)
(4,822
)
Administrative expenses
(1,143,403
)
(1,362,168
)
Other operating income -  
9,970
 
Operating profit
569,134
 
393,378
 
Interest payable and similar expenses
(38,570
)
(33,420
)
Profit before tax
530,564
 
359,958
 
Tax on profit
(135,587
)
(89,565
)
Profit for the financial year
394,977
 
270,393
 
North Cheshire Holdings Limited
Statement of Total Comprehensive Income
Year ended
31 January 2024
20242023
££
Profit for the financial year
394,977
 
270,393
 
Revaluation of tangible assets -  
(324,695
)
Total comprehensive income
394,977
 
(54,302
)
North Cheshire Holdings Limited
Statement of Financial Position
31 January 2024
20242023
Note££
Fixed assets    
Tangible assets 5
1,342,661
 
1,433,234
 
Current assets    
Stocks
120,000
 
110,000
 
Debtors 6
3,055,509
 
2,549,867
 
Cash at bank and in hand
539,178
 
1,003,733
 
3,714,687
 
3,663,600
 
Creditors: amounts falling due within one year 7
(1,534,030
)
(1,684,985
)
Net current assets
2,180,657
 
1,978,615
 
Total assets less current liabilities 3,523,318   3,411,849  
Creditors: amounts falling due after more than one year 8
(253,263
)
(514,358
)
Provisions for liabilities
(58,789
)
(81,202
)
Net assets
3,211,266
 
2,816,289
 
Capital and reserves    
Called up share capital
100
 
100
 
Revaluation reserve
(324,695
)
(324,695
)
Profit and loss account
3,535,861
 
3,140,884
 
Shareholders funds
3,211,266
 
2,816,289
 
For the 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.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
12 August 2024
, and are signed on behalf of the board by:
Mr G Heywood
Director
Company registration number:
02828265
North Cheshire Holdings Limited
Statement of Changes in Equity
Year ended
31 January 2024
Called up share capitalRevaluation reserveProfit and loss accountTotal
££££
At 1 February 2022
100
  -  
2,870,491
 
2,870,591
 
Profit for the year- - 270,393 270,393 
Other comprehensive income for the year:        
Revaluation of tangible assets- 
(324,695
)- 
(324,695
)
Total comprehensive income for the year- 
(324,695
)
270,393
 
(54,302
)
At 31 January 2023 and 
1 February 2023
100
 
(324,695
)
3,140,884
 
2,816,289
 
Profit for the year- - 394,977 394,977 
Total comprehensive income for the year- - 
394,977
 
394,977
 
At
31 January 2024
100
 
(324,695
)
3,535,861
 
3,211,266
 
North Cheshire Holdings Limited
Notes to the Financial Statements
Year ended
31 January 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
North Cheshire House
,
Kelvin Close
,
Birchwood, Warrington
,
Cheshire
,
WA3 7PB
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
2% Straight line
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
Office equipment
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
25
(2023:
25.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 February 2023
1,300,028
 
1,003,047
 
2,303,075
 
Additions -  
34,762
 
34,762
 
At
31 January 2024
1,300,028
 
1,037,809
 
2,337,837
 
Depreciation      
At
1 February 2023
233,090
 
636,751
 
869,841
 
Charge
23,646
 
101,689
 
125,335
 
At
31 January 2024
256,736
 
738,440
 
995,176
 
Carrying amount      
At
31 January 2024
1,043,292
 
299,369
 
1,342,661
 
At 31 January 2023
1,066,938
 
366,296
 
1,433,234
 

6 Debtors

20242023
££
Trade debtors
2,277,758
 
1,585,684
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
290,616
 
101,172
 
Other debtors
487,135
 
863,011
 
3,055,509
 
2,549,867
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
120,000
 
150,000
 
Trade creditors
1,075,538
 
1,369,743
 
Taxation and social security
183,515
 
104,550
 
Other creditors
154,977
 
60,692
 
1,534,030
 
1,684,985
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
160,000
 
390,052
 
Other creditors
93,263
 
124,306
 
253,263
 
514,358