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Registered Number: 10120462
England and Wales

 

 

 

TEAM CHAPMAN TRADING LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors Miss C M Chapman
Mrs P Chapman
Registered Number 10120462
Registered Office 9 Chapman's Court
Cattrerick
Richmond
DL10 7UE
Accountants LH Accountants Ltd
5 King Street
Hornsea
HU18 1RD
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 73,946    63,245 
73,946    63,245 
Current assets      
Stocks 4 82,585    110,141 
Debtors 5 2,728   
Cash at bank and in hand 24    133 
85,337    110,274 
Creditors: amount falling due within one year 6 (277,086)   (246,197)
Net current assets (191,749)   (135,923)
 
Total assets less current liabilities (117,803)   (72,678)
Provisions for liabilities 7 (5,249)   (3,216)
Net assets (123,052)   (75,894)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (123,152)   (75,994)
Shareholders' funds (123,052)   (75,894)
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 January 2025 and were signed on its behalf by:


-------------------------------
Miss C M Chapman
Director
2
General Information
Team Chapman Trading Limited is a private company, limited by shares, registered in England and Wales, registration number 10120462, registration address 9 Chapman's Court, Cattrerick, Richmond, DL10 7UE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. 
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 May 2023 46,320    51,879    98,199 
Additions   17,607    17,607 
Disposals    
At 30 April 2024 46,320    69,486    115,806 
Depreciation
At 01 May 2023   34,954    34,954 
Charge for year   6,906    6,906 
On disposals    
At 30 April 2024   41,860    41,860 
Net book values
Closing balance as at 30 April 2024 46,320    27,626    73,946 
Opening balance as at 01 May 2023 46,320    16,925    63,245 


4.

Stocks

2024
£
  2023
£
Stocks 82,585    110,141 
82,585    110,141 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 2,728   
2,728   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   6,226 
Taxation and Social Security   276 
Other Creditors 277,086    239,695 
277,086    246,197 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 5,249    3,216 
5,249    3,216 

8.

Related party transactions

Included in Other creditors: falling due within one year is a balance of £275,086 (2023 £235,375) owed to the directors of the company.
3