CHELSEA PINES LIMITED

Company Registration Number:
SC510036 (Scotland)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

CHELSEA PINES LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

CHELSEA PINES LIMITED

Company Information

for the Period Ended 31 July 2024




Registered office: 34
Colchester Drive
Glasgow
GB-SCT
G12 0NF
Company Registration Number: SC510036 (Scotland)

CHELSEA PINES LIMITED

Balance sheet

As at 31 July 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 277,279 158,298
Total fixed assets: 277,279 158,298
Current assets
Stocks: 10,500 9,000
Debtors: 5 24,921 48,687
Cash at bank and in hand: 95,306 44,713
Total current assets: 130,727 102,400
Creditors: amounts falling due within one year: ( 84,610 ) ( 31,079 )
Net current assets (liabilities): 46,117 71,321
Total assets less current liabilities: 323,396 229,619
Creditors: amounts falling due after more than one year: ( 200,065 ) ( 230,939 )
Total net assets (liabilities): 123,331 ( 1,320 )

The notes form part of these financial statements

CHELSEA PINES LIMITED

Balance sheet continued

As at 31 July 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 123,231 ( 1,420 )
Shareholders funds: 123,331 ( 1,320 )

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 27 November 2024
And Signed On Behalf Of The Board By:

Name: Stuart Wilson
Status: Director

The notes form part of these financial statements

CHELSEA PINES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

    Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

    Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

    Plant and machinery 20% reducing balance
    Motor Vehicles 25% Reducing balance
    Leasehold improvements Straight line over lease term

    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 credited or charged to profit or loss.

    Valuation information and policy

    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 the 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.

CHELSEA PINES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 2 2

CHELSEA PINES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 3. Off balance sheet disclosure

    No

CHELSEA PINES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Tangible Assets

Total
Cost £
At 01 August 2023 192,033
Additions 156,949
Disposals (32,740)
Revaluations -
Transfers -
At 31 July 2024 316,242
Depreciation
At 01 August 2023 33,735
Charge for year 28,944
On disposals (23,716)
Other adjustments -
At 31 July 2024 38,963
Net book value
At 31 July 2024 277,279
At 31 July 2023 158,298

CHELSEA PINES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 5. Debtors

    All debtors fall due within one year.