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REGISTERED NUMBER: 07261780 (England and Wales)












A.H. CHEATER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.H. CHEATER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: S Peace
M E Peace
I Steel
R Steel



REGISTERED OFFICE: 122 The Hundred
Romsey
Hampshire
SO51 8BY



REGISTERED NUMBER: 07261780 (England and Wales)



BANKERS: National Westminster Bank plc
27 Market Place
Romsey
Hampshire
SO51 8ZH

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,447,081 1,112,820
1,447,081 1,112,820

CURRENT ASSETS
Stocks 19,398 22,225
Debtors 6 119,702 163,991
Cash at bank and in hand 881,379 1,070,483
1,020,479 1,256,699
CREDITORS
Amounts falling due within one year 7 (659,676 ) (548,092 )
NET CURRENT ASSETS 360,803 708,607
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,807,884

1,821,427

CREDITORS
Amounts falling due after more than one
year

8

(762,737

)

(794,240

)

PROVISIONS FOR LIABILITIES (67,968 ) (30,351 )
NET ASSETS 977,179 996,836

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 977,079 996,736
977,179 996,836

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

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

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

BALANCE SHEET - continued
31 MAY 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 24 November 2024 and were signed on its behalf by:





M E Peace - Director


A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

A.h. Cheater 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 FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the value of services provided to the extent that there is a right to consideration and is recorded at the value of the consideration due.

The right to consideration is determined based on the date a funeral takes place.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated impairment losses. Goodwill is considered to have a finite useful life and is now fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Short leasehold - 5% on cost
Fixtures and fittings - 15% Reducing balance
Motor vehicles - 25% Reducing balance
Computer equipment - Straight line over 4 years

The directors ensure the freehold property is maintained sufficiently in order that there is no diminution in its value.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

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


2. ACCOUNTING POLICIES - continued

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

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


2. ACCOUNTING POLICIES - continued

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 June 2023
and 31 May 2024 1,800,000
AMORTISATION
At 1 June 2023
and 31 May 2024 1,800,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and
property leasehold fittings
£ £ £
COST
At 1 June 2023 679,205 286,671 81,593
Additions - 246,187 13,317
At 31 May 2024 679,205 532,858 94,910
DEPRECIATION
At 1 June 2023 - 106,306 49,308
Charge for year - 12,247 4,769
At 31 May 2024 - 118,553 54,077
NET BOOK VALUE
At 31 May 2024 679,205 414,305 40,833
At 31 May 2023 679,205 180,365 32,285

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

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


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 June 2023 459,107 10,919 1,517,495
Additions 145,594 3,207 408,305
At 31 May 2024 604,701 14,126 1,925,800
DEPRECIATION
At 1 June 2023 241,199 7,862 404,675
Charge for year 56,023 1,005 74,044
At 31 May 2024 297,222 8,867 478,719
NET BOOK VALUE
At 31 May 2024 307,479 5,259 1,447,081
At 31 May 2023 217,908 3,057 1,112,820

The net book value of tangible fixed assets includes £ 277,275 (2023 - £ 180,734 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 113,048 157,117
Other debtors 6,654 6,874
119,702 163,991

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 38,404 31,079
Hire purchase contracts (see note 9) 54,865 33,552
Trade creditors 131,758 114,135
Taxation and social security 142,574 146,172
Other creditors 292,075 223,154
659,676 548,092

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 670,491 710,359
Hire purchase contracts (see note 9) 92,246 83,881
762,737 794,240

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 516,876 586,045
516,876 586,045

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 54,865 33,552
Between one and five years 92,246 83,881
147,111 117,433

Non-cancellable
operating leases
2024 2023
£ £
Within one year 5,016 6,213
Between one and five years 1,964 6,980
6,980 13,193

A.H. CHEATER LIMITED (REGISTERED NUMBER: 07261780)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 708,895 741,438
Hire purchase contracts 147,111 117,433
856,006 858,871

Long term loans are secured by fixed and floating charge over the property of the company.

Hire purchase liabilities are secured against the assets to which they relate.