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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CHESTERFIELD ENGINEERING GROUP LIMITED

CHESTERFIELD ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 11638675)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

CHESTERFIELD ENGINEERING GROUP LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: G M Fletcher
M Fletcher





REGISTERED OFFICE: Whittington House
South Street North
New Whittington
Chesterfield
S43 2BP





REGISTERED NUMBER: 11638675 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

CHESTERFIELD ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 11638675)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 550,265 518,549
Investments 5 100 100
Investment property 6 1,493,452 1,493,452
2,043,817 2,012,101

CURRENT ASSETS
Debtors 7 2,106,521 557,142
Cash at bank 91,330 22,804
2,197,851 579,946
CREDITORS
Amounts falling due within one year 8 1,261,782 349,564
NET CURRENT ASSETS 936,069 230,382
TOTAL ASSETS LESS CURRENT LIABILITIES 2,979,886 2,242,483

CREDITORS
Amounts falling due after more than one year 9 (1,668,634 ) (1,221,411 )

PROVISIONS FOR LIABILITIES 10 (126,750 ) (6,012 )
NET ASSETS 1,184,502 1,015,060

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,184,402 1,014,960
1,184,502 1,015,060

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

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

CHESTERFIELD ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 11638675)

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





G M Fletcher - Director


CHESTERFIELD ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 11638675)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Chesterfield Engineering Group 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 3 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

CHESTERFIELD ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 11638675)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 4 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 668,793 9,600 - 3,112 681,505
Additions 255,000 - 8,700 3,035 266,735
Disposals (82,052 ) - - (1,405 ) (83,457 )
At 31 March 2024 841,741 9,600 8,700 4,742 864,783
DEPRECIATION
At 1 April 2023 156,921 4,200 - 1,835 162,956
Charge for year 172,302 1,350 181 929 174,762
Eliminated on disposal (21,795 ) - - (1,405 ) (23,200 )
At 31 March 2024 307,428 5,550 181 1,359 314,518
NET BOOK VALUE
At 31 March 2024 534,313 4,050 8,519 3,383 550,265
At 31 March 2023 511,872 5,400 - 1,277 518,549

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023 235,000
Additions 255,000
At 31 March 2024 490,000
DEPRECIATION
At 1 April 2023 44,063
Charge for year 106,171
At 31 March 2024 150,234
NET BOOK VALUE
At 31 March 2024 339,766
At 31 March 2023 190,937

CHESTERFIELD ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 11638675)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,493,452
NET BOOK VALUE
At 31 March 2024 1,493,452
At 31 March 2023 1,493,452

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 20,164 25,799
Amounts owed by group undertakings 315,070 12,692
Other debtors 14,400 14,400
Directors' current accounts 1,610,393 427,817
Tax 146,090 76,033
Prepayments 404 401
2,106,521 557,142

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 41,695 85,888
Hire purchase contracts 61,653 38,750
Trade creditors 5,840 4,702
Amounts owed to group undertakings 982,610 180,670
Taxation and social security 164,231 35,158
Other creditors 5,753 4,396
1,261,782 349,564

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,493,983 1,073,016
Hire purchase contracts 174,651 148,395
1,668,634 1,221,411

CHESTERFIELD ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 11638675)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,233,506 598,577

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 126,750 6,012

Deferred
tax
£   
Balance at 1 April 2023 6,012
Charge to Income Statement during year 120,738
Balance at 31 March 2024 126,750

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
G M Fletcher
Balance outstanding at start of year 412,817 120,549
Amounts advanced 1,197,575 292,268
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,610,392 412,817

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CHESTERFIELD ENGINEERING GROUP LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chesterfield Engineering Group Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Chesterfield Engineering Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chesterfield Engineering Group Limited and state those matters that we have agreed to state to the Board of Directors of Chesterfield Engineering Group Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chesterfield Engineering Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chesterfield Engineering Group Limited. You consider that Chesterfield Engineering Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chesterfield Engineering Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


Date: .............................................