IRIS Accounts Production v24.3.0.553 07936521 director 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079365212023-02-28079365212024-02-29079365212023-03-012024-02-29079365212022-02-28079365212022-03-012023-02-28079365212023-02-2807936521ns15:EnglandWales2023-03-012024-02-2907936521ns14:PoundSterling2023-03-012024-02-2907936521ns10:Director12023-03-012024-02-2907936521ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2907936521ns10:SmallEntities2023-03-012024-02-2907936521ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2907936521ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2907936521ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2907936521ns10:FullAccounts2023-03-012024-02-2907936521ns10:RegisteredOffice2023-03-012024-02-2907936521ns5:CurrentFinancialInstruments2024-02-2907936521ns5:CurrentFinancialInstruments2023-02-2807936521ns5:Non-currentFinancialInstruments2024-02-2907936521ns5:Non-currentFinancialInstruments2023-02-2807936521ns5:ShareCapital2024-02-2907936521ns5:ShareCapital2023-02-2807936521ns5:RetainedEarningsAccumulatedLosses2024-02-2907936521ns5:RetainedEarningsAccumulatedLosses2023-02-2807936521ns5:PlantMachinery2023-03-012024-02-2907936521ns5:ComputerEquipment2023-03-012024-02-2907936521ns5:PlantMachinery2023-02-2807936521ns5:ComputerEquipment2023-02-2807936521ns5:PlantMachinery2024-02-2907936521ns5:ComputerEquipment2024-02-2907936521ns5:PlantMachinery2023-02-2807936521ns5:ComputerEquipment2023-02-2807936521ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2907936521ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2807936521ns5:CurrentFinancialInstruments2023-03-012024-02-2907936521ns5:Non-currentFinancialInstruments2023-03-012024-02-29
REGISTERED NUMBER: 07936521 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Chesterwoods Construction Limited

Chesterwoods Construction Limited (Registered number: 07936521)






Contents of the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chesterwoods Construction Limited

Company Information
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: C Woods





REGISTERED OFFICE: Office 7
35 - 37 Ludgate Hill
London
EC4M 7JN





REGISTERED NUMBER: 07936521 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Chesterwoods Construction Limited (Registered number: 07936521)

Balance Sheet
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,791 8,687

CURRENT ASSETS
Debtors 5 1,325 4,399

CREDITORS
Amounts falling due within one year 6 12,139 6,753
NET CURRENT LIABILITIES (10,814 ) (2,354 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,023

)

6,333

CREDITORS
Amounts falling due after more than one year 7 (5,579 ) (9,645 )

PROVISIONS FOR LIABILITIES (876 ) (1,651 )
NET LIABILITIES (10,478 ) (4,963 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (10,480 ) (4,965 )
SHAREHOLDERS' FUNDS (10,478 ) (4,963 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Chesterwoods Construction Limited (Registered number: 07936521)

Balance Sheet - continued
29 FEBRUARY 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 director and authorised for issue on 16 November 2024 and were signed by:





C Woods - Director


Chesterwoods Construction Limited (Registered number: 07936521)

Notes to the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Chesterwoods Construction 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.

Going concern
The accounts have been prepared on a going concern basis given the continued financial support of the director.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 3 years, 25% on reducing balance and 10% on cost
Computer equipment - 3 years

Chesterwoods Construction Limited (Registered number: 07936521)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Chesterwoods Construction Limited (Registered number: 07936521)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant & Computer
machinery equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 17,263 1,276 18,539
DEPRECIATION
At 1 March 2023 8,576 1,276 9,852
Charge for year 1,896 - 1,896
At 29 February 2024 10,472 1,276 11,748
NET BOOK VALUE
At 29 February 2024 6,791 - 6,791
At 28 February 2023 8,687 - 8,687

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,325 4,399

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,268 4,035
Taxation and social security 585 1,320
Other creditors 7,286 1,398
12,139 6,753

Chesterwoods Construction Limited (Registered number: 07936521)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The bank loan is the COVID-19 bounce bank loan scheme which is unsecured and guaranteed by the UK government.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,579 9,645

The bank loan is due within 5 years.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year 2,768 (4,720 )
Amounts advanced - 17,121
Amounts repaid (2,768 ) (9,633 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,768

This loan is interest-free and repayable on demand.