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REGISTERED NUMBER: 00297968 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

CHART ENTERPRISES LIMITED

CHART ENTERPRISES LIMITED (REGISTERED NUMBER: 00297968)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


CHART ENTERPRISES LIMITED (REGISTERED NUMBER: 00297968)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,554,083 7,549,185

CURRENT ASSETS
Stocks 5 288,705 301,538
Debtors 6 67,738 82,383
Cash at bank and in hand 272,125 263,659
628,568 647,580
CREDITORS
Amounts falling due within one year 7 374,261 346,840
NET CURRENT ASSETS 254,307 300,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,808,390

7,849,925

CREDITORS
Amounts falling due after more than one
year

8

(1,137,906

)

(1,196,147

)

PROVISIONS FOR LIABILITIES (999,746 ) (988,506 )
NET ASSETS 5,670,738 5,665,272

CAPITAL AND RESERVES
Called up share capital 500,002 500,002
Revaluation reserve 11 4,765,105 4,765,105
Retained earnings 405,631 400,165
SHAREHOLDERS' FUNDS 5,670,738 5,665,272

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

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

CHART ENTERPRISES LIMITED (REGISTERED NUMBER: 00297968)

BALANCE SHEET - continued
31 JULY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





C B Petersen - Director


CHART ENTERPRISES LIMITED (REGISTERED NUMBER: 00297968)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Chart Enterprises 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: 00297968

Registered office: Rock Acres
Chart Farm Seal Chart
Sevenoaks
Kent
TN15 0ES

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 1% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 20% on 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.

CHART ENTERPRISES LIMITED (REGISTERED NUMBER: 00297968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 8 (2023 - 8 ) .

CHART ENTERPRISES LIMITED (REGISTERED NUMBER: 00297968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 7,888,844 560,449 177,984 20,327 8,647,604
Additions - 192,977 - 843 193,820
Disposals - (68,000 ) (26,250 ) - (94,250 )
At 31 July 2024 7,888,844 685,426 151,734 21,170 8,747,174
DEPRECIATION
At 1 August 2023 674,337 265,041 146,515 12,526 1,098,419
Charge for year 54,262 55,823 7,042 1,701 118,828
Eliminated on disposal - (14,506 ) (9,650 ) - (24,156 )
At 31 July 2024 728,599 306,358 143,907 14,227 1,193,091
NET BOOK VALUE
At 31 July 2024 7,160,245 379,068 7,827 6,943 7,554,083
At 31 July 2023 7,214,507 295,408 31,469 7,801 7,549,185

Included in cost of land and buildings is freehold land of £ 2,462,500 (2023 - £ 2,462,500 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2023 148,835 20,600 169,435
Additions 100,000 - 100,000
Disposals (68,000 ) - (68,000 )
At 31 July 2024 180,835 20,600 201,435
DEPRECIATION
At 1 August 2023 43,607 11,330 54,937
Charge for year 10,347 4,120 14,467
Eliminated on disposal (14,506 ) - (14,506 )
At 31 July 2024 39,448 15,450 54,898
NET BOOK VALUE
At 31 July 2024 141,387 5,150 146,537
At 31 July 2023 105,228 9,270 114,498

5. STOCKS
2024 2023
£    £   
Stocks 288,705 301,538

CHART ENTERPRISES LIMITED (REGISTERED NUMBER: 00297968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,869 29,777
Other debtors 36,869 52,606
67,738 82,383

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 78,204 75,516
Hire purchase contracts 34,328 28,621
Trade creditors 123,686 96,648
Taxation and social security 1,718 1,958
Other creditors 136,325 144,097
374,261 346,840

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 1,083,704 1,164,041
Hire purchase contracts 54,202 32,106
1,137,906 1,196,147

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 802,566 880,104

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 78,204 75,516

Amounts falling due between one and two years:
Bank loans - 1-2 years 76,538 76,404

Amounts falling due between two and five years:
Bank loans - 2-5 years 204,600 207,533

Amounts falling due in more than five years:

CHART ENTERPRISES LIMITED (REGISTERED NUMBER: 00297968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

9. LOANS - continued
2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 802,566 880,104

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,161,908 1,239,557
Hire purchase contracts 88,530 60,727
1,250,438 1,300,284

The bank loan is secured by a charge over limited asset at Chart Farm.

11. RESERVES
Revaluation
reserve
£   
At 1 August 2023
and 31 July 2024 4,765,105

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £38,800 (2023 - £41,600) were paid to the directors.

During the year, dividends of £37,000 (2023 - £38,000) were paid to close family members.