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Registered number: 04997775
Chiltern Motors (B.C) Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr J M Minting
Company Number 04997775
Registered Office Cholesbury Lane
Buckland Common
Tring
Hertfordshire
HP23 6NQ
Business Cholesbury Lane
Buckland Common
Tring
Hertfordshire
HP23 6NQ
Accountants Creasey & Co
Chartered Accountants
6 Treachers Close
Pitstone
Leighton Buzzard
Beds
LU7 9SR
Page 1
Page 2
Balance Sheet
Registered number: 04997775
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 40,406 28,339
40,406 28,339
CURRENT ASSETS
Debtors 5 6,268 7,200
Cash at bank and in hand 208,002 167,997
214,270 175,197
Creditors: Amounts Falling Due Within One Year 6 (64,589 ) (54,465 )
NET CURRENT ASSETS (LIABILITIES) 149,681 120,732
TOTAL ASSETS LESS CURRENT LIABILITIES 190,087 149,071
NET ASSETS 190,087 149,071
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 190,085 149,069
SHAREHOLDERS' FUNDS 190,087 149,071
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Page 3
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J M Minting
Director
23 January 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Chiltern Motors (B.C) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04997775 . The registered office is Cholesbury Lane, Buckland Common, Tring, Hertfordshire, HP23 6NQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Leasehold 7% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 May 2023 10,000 20,939 49,361 14,700
Additions - - 5,966 15,000
As at 30 April 2024 10,000 20,939 55,327 29,700
Depreciation
As at 1 May 2023 - 14,683 41,874 12,043
Provided during the period - 723 3,364 4,414
As at 30 April 2024 - 15,406 45,238 16,457
Net Book Value
As at 30 April 2024 10,000 5,533 10,089 13,243
As at 1 May 2023 10,000 6,256 7,487 2,657
Computer Equipment Total
£ £
Cost
As at 1 May 2023 21,453 116,453
Additions - 20,966
As at 30 April 2024 21,453 137,419
Depreciation
As at 1 May 2023 19,514 88,114
Provided during the period 398 8,899
As at 30 April 2024 19,912 97,013
Net Book Value
As at 30 April 2024 1,541 40,406
As at 1 May 2023 1,939 28,339
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,879 3,317
Other debtors 4,389 3,883
6,268 7,200
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Page 6
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,903 7,787
Other creditors 21,967 20,997
Taxation and social security 32,719 25,681
64,589 54,465
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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