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REGISTERED NUMBER: 06203168 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Tom Chugg Contracting Ltd

Tom Chugg Contracting Ltd (Registered number: 06203168)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tom Chugg Contracting Ltd

Company Information
for the Year Ended 30 April 2024







Director: T W R Chugg





Secretary: Mrs L E Chugg





Registered office: The Homestead
Broughton Green
Droitwich
WR9 7EF





Registered number: 06203168 (England and Wales)





Accountants: Crowthers Chartered Accountants
1 Ripple Court
Brockeridge Park
Tewkesbury
Gloucestershire
GL20 6FG

Tom Chugg Contracting Ltd (Registered number: 06203168)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 346,166 330,911

CURRENT ASSETS
Stocks 128,967 111,687
Debtors 5 82,789 71,711
Cash at bank 67,569 78,326
279,325 261,724
CREDITORS
Amounts falling due within one year 6 129,254 137,880
NET CURRENT ASSETS 150,071 123,844
TOTAL ASSETS LESS CURRENT
LIABILITIES

496,237

454,755

CREDITORS
Amounts falling due after more than one
year

7

(62,733

)

(68,571

)

PROVISIONS FOR LIABILITIES (84,739 ) (64,219 )
NET ASSETS 348,765 321,965

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 348,764 321,964
348,765 321,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Tom Chugg Contracting Ltd (Registered number: 06203168)

Balance Sheet - continued
30 April 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 24 January 2025 and were signed by:





T W R Chugg - Director


Tom Chugg Contracting Ltd (Registered number: 06203168)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Tom Chugg Contracting Ltd 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.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Plant and machinery: 25% reducing balance basis
Motor vehicles: 20% reducing balance basis

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.


Tom Chugg Contracting Ltd (Registered number: 06203168)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

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
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 2 (2023 - 2 ) .

Tom Chugg Contracting Ltd (Registered number: 06203168)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 May 2023 732,665 12,600 4,079 749,344
Additions 172,542 - - 172,542
Disposals (128,050 ) - - (128,050 )
At 30 April 2024 777,157 12,600 4,079 793,836
Depreciation
At 1 May 2023 407,230 9,957 1,246 418,433
Charge for year 113,864 529 708 115,101
Eliminated on disposal (85,864 ) - - (85,864 )
At 30 April 2024 435,230 10,486 1,954 447,670
Net book value
At 30 April 2024 341,927 2,114 2,125 346,166
At 30 April 2023 325,435 2,643 2,833 330,911

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 39,074 22,965
Other debtors 43,715 48,746
82,789 71,711

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 83,356 91,250
Trade creditors 1,609 29,890
Taxation and social security 30,535 701
Other creditors 3,754 6,039
129,254 137,880

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,000 25,000
Hire purchase contracts 47,733 43,571
62,733 68,571

Tom Chugg Contracting Ltd (Registered number: 06203168)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
T W R Chugg
Balance outstanding at start of year (3,389 ) (255 )
Amounts advanced 133,358 58,866
Amounts repaid (102,650 ) (62,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,319 (3,389 )