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REGISTERED NUMBER: 07155760 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Chris Dade Engineering Limited

Chris Dade Engineering Limited (Registered number: 07155760)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Chris Dade Engineering Limited (Registered number: 07155760)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £ £
Fixed assets
Intangible assets 5 6,049 8,066
Tangible assets 6 94,451 113,078
100,500 121,144

Current assets
Debtors 7 183,100 145,173
Cash at bank 840 840
183,940 146,013
Creditors
Amounts falling due within one year 8 (183,702 ) (151,084 )
Net current assets/(liabilities) 238 (5,071 )
Total assets less current liabilities 100,738 116,073

Creditors
Amounts falling due after more than one
year

9

(78,673

)

(95,888

)

Provisions for liabilities (22,017 ) (20,006 )
Net assets 48 179

Capital and reserves
Called up share capital 11 1 1
Retained earnings 12 47 178
Shareholders' funds 48 179

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 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.

Chris Dade Engineering Limited (Registered number: 07155760)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 December 2024 and were signed by:





Mr C Dade - Director


Chris Dade Engineering Limited (Registered number: 07155760)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

Chris Dade Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07155760

Registered office: Unit 1
King John Bank
Walpole St Andrew
Wisbech
Cambridgeshire
PE14 7LT

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 15% p.a. reducing balance
Motor vehicles - 25% p.a. reducing balance
Computer equipment - 20% on cost

Chris Dade Engineering Limited (Registered number: 07155760)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


Chris Dade Engineering Limited (Registered number: 07155760)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. 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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employees and directors

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

5. Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023
and 31 March 2024 20,168
Amortisation
At 1 April 2023 12,102
Amortisation for year 2,017
At 31 March 2024 14,119
Net book value
At 31 March 2024 6,049
At 31 March 2023 8,066

Chris Dade Engineering Limited (Registered number: 07155760)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
Cost
At 1 April 2023 135,872 107,883 10,357 254,112
Additions 1,359 - 2,849 4,208
At 31 March 2024 137,231 107,883 13,206 258,320
Depreciation
At 1 April 2023 86,021 50,550 4,463 141,034
Charge for year 7,529 14,333 973 22,835
At 31 March 2024 93,550 64,883 5,436 163,869
Net book value
At 31 March 2024 43,681 43,000 7,770 94,451
At 31 March 2023 49,851 57,333 5,894 113,078

7. Debtors: amounts falling due within one year
31.3.24 31.3.23
£ £
Trade debtors 70,199 68,668
Other debtors 112,901 76,505
183,100 145,173

8. Creditors: amounts falling due within one year
31.3.24 31.3.23
£ £
Bank loans and overdrafts 8,319 26,980
Hire purchase contracts 10,852 13,581
Trade creditors 7,698 6,535
Taxation and social security 155,003 102,258
Other creditors 1,830 1,730
183,702 151,084

9. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£ £
Bank loans 30,556 37,037
Hire purchase contracts 48,117 58,851
78,673 95,888

Chris Dade Engineering Limited (Registered number: 07155760)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. Secured debts

The following secured debts are included within creditors:

31.3.24 31.3.23
£ £
Bank loans 36,112 41,667

Bank borrowings consist of a bounce back loan which is 100% guaranteed by the government.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £ £
100 Ordinary £0.01 1 1

12. Reserves

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

13. Director's 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
£ £
Mr C Dade
Balance outstanding at start of year 74,925 39,756
Amounts advanced 141,706 184,786
Amounts repaid (109,440 ) (149,617 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 107,191 74,925

The directors loan is not subject to any interest charges and is repayable on demand and will be repaid in full during the next year.