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REGISTERED NUMBER: 01421456 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

CHARTER (MACHINE TOOLS) LIMITED

CHARTER (MACHINE TOOLS) LIMITED (REGISTERED NUMBER: 01421456)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


CHARTER (MACHINE TOOLS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr S E Sutton
Mr I D Sallis
Mr N S Sutton





SECRETARY: Mr I D Sallis





REGISTERED OFFICE: Unit 2
Riverside Industrial Estate
Margaret Street
Ashton - Under - Lyne
Lancashire
OL7 0QQ





REGISTERED NUMBER: 01421456 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

CHARTER (MACHINE TOOLS) LIMITED (REGISTERED NUMBER: 01421456)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 484 871
Investments 5 386,389 200,000
386,873 200,871

CURRENT ASSETS
Stocks 161,398 171,257
Debtors 6 343,450 54,722
Cash at bank and in hand 798,098 186,474
1,302,946 412,453
CREDITORS
Amounts falling due within one year 7 1,221,412 328,507
NET CURRENT ASSETS 81,534 83,946
TOTAL ASSETS LESS CURRENT
LIABILITIES

468,407

284,817

CREDITORS
Amounts falling due after more than one
year

8

(122,903

)

(31,195

)

PROVISIONS FOR LIABILITIES (92 ) (165 )
NET ASSETS 345,412 253,457

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 345,312 253,357
SHAREHOLDERS' FUNDS 345,412 253,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

CHARTER (MACHINE TOOLS) LIMITED (REGISTERED NUMBER: 01421456)

STATEMENT OF FINANCIAL POSITION - continued
31ST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd November 2024 and were signed on its behalf by:




Mr S E Sutton - Director Mr N S Sutton - Director




Mr I D Sallis - Director


CHARTER (MACHINE TOOLS) LIMITED (REGISTERED NUMBER: 01421456)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Charter (Machine Tools) Limited 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 represents the total amount receivable by the company for goods and services provided, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 38,828
DEPRECIATION
At 1st April 2023 37,957
Charge for year 387
At 31st March 2024 38,344
NET BOOK VALUE
At 31st March 2024 484
At 31st March 2023 871

CHARTER (MACHINE TOOLS) LIMITED (REGISTERED NUMBER: 01421456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2023
and 31st March 2024 386,389
PROVISIONS
At 1st April 2023 186,389

Provision written back (186,389 )
At 31st March 2024 -
NET BOOK VALUE
At 31st March 2024 386,389
At 31st March 2023 200,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 202,049 20,858
Other debtors 141,401 33,864
343,450 54,722

At the balance sheet date the company is owed £90,617 by New Century Machinery Limited, a company in which Charter (Machine Tools) Limited has a 50% shareholding. However this amount has been fully provided for as it is unlikely that these monies will be recovered in the near future.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,027 9,803
Trade creditors 987,653 80,305
Taxation and social security 451 2,502
Other creditors 223,281 235,897
1,221,412 328,507

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 22,903 31,195
Other creditors 100,000 -
122,903 31,195

CHARTER (MACHINE TOOLS) LIMITED (REGISTERED NUMBER: 01421456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100