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REGISTERED NUMBER: 05379315 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

CHANNEL WOODCRAFT LIMITED

CHANNEL WOODCRAFT LIMITED (REGISTERED NUMBER: 05379315)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHANNEL WOODCRAFT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: S J Bonomy
I J Mather
D Bonomy
Mrs J A Wray





REGISTERED OFFICE: The Farmhouse
Yew Tree Farm
Stone Street
Stanford North
Kent
TN25 6DH





REGISTERED NUMBER: 05379315 (England and Wales)





ACCOUNTANTS: Cassidys Chartered Accountants
South Stour Offices
South Stour Road
Mersham
Ashford
Kent
TN25 7HS

CHANNEL WOODCRAFT LIMITED (REGISTERED NUMBER: 05379315)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 231 261
Investments 5 451,500 451,500
Investment property 6 2,435,250 2,435,250
2,886,981 2,887,011

CURRENT ASSETS
Debtors 7 48,237 14,552
Cash at bank 31,341 107,539
79,578 122,091
CREDITORS
Amounts falling due within one year 8 84,467 96,223
NET CURRENT (LIABILITIES)/ASSETS (4,889 ) 25,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,882,092

2,912,879

CREDITORS
Amounts falling due after more than one year 9 (282,750 ) (321,750 )

PROVISIONS FOR LIABILITIES 10 (192,755 ) (192,723 )
NET ASSETS 2,406,587 2,398,406

CAPITAL AND RESERVES
Called up share capital 148,489 148,489
Retained earnings 2,258,098 2,249,917
SHAREHOLDERS' FUNDS 2,406,587 2,398,406

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

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

CHANNEL WOODCRAFT LIMITED (REGISTERED NUMBER: 05379315)

BALANCE SHEET - continued
31 AUGUST 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 Income Statement has not been delivered.

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





S J Bonomy - Director


CHANNEL WOODCRAFT LIMITED (REGISTERED NUMBER: 05379315)

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


1. STATUTORY INFORMATION

Channel Woodcraft 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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 and machinery - at varying rates on cost
Fixtures and fittings - at variable rates on reducing balance
Computer equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property
Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


CHANNEL WOODCRAFT LIMITED (REGISTERED NUMBER: 05379315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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.

Hire purchase and leasing commitments
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.

Investments
Investments in subsidiary and associated undertakings are valued at cost less provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 17,343
DEPRECIATION
At 1 September 2023 17,082
Charge for year 30
At 31 August 2024 17,112
NET BOOK VALUE
At 31 August 2024 231
At 31 August 2023 261

CHANNEL WOODCRAFT LIMITED (REGISTERED NUMBER: 05379315)

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


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 599,991
PROVISIONS
At 1 September 2023
and 31 August 2024 148,491
NET BOOK VALUE
At 31 August 2024 451,500
At 31 August 2023 451,500

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 2,435,250
NET BOOK VALUE
At 31 August 2024 2,435,250
At 31 August 2023 2,435,250

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2009 300,000
Valuation in 2010 514,959
Valuation in 2011 (115,616 )
Valuation in 2020 (183,750 )
Valuation in 2021 500,000
Cost 1,419,657
2,435,250

The properties were revalued as at 31st August 2021, by Smith Woolley Chartered Surveyors & Estate Agents at a value of £2,825,832. The directors have taken the view of prudence and revalued the properties at £2,435,250.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 48,237 14,552

CHANNEL WOODCRAFT LIMITED (REGISTERED NUMBER: 05379315)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 39,000 39,000
Taxation and social security 14,246 16,107
Other creditors 31,221 41,116
84,467 96,223

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 282,750 321,750

10. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 192,755 192,723

Deferred
tax
£   
Balance at 1 September 2023 192,723
Provided during year 32
Balance at 31 August 2024 192,755

11. PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge for the period amounts to £4,023 (2022 - £3,828) and represents contributions payable by the company to the fund.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £17,546 (2023 - £16,376) were paid to the directors .