CHAPS (HPS) Wales Ltd 13340686 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is Plumbing and central heating Digita Accounts Production Advanced 6.30.9574.0 Software true false 13340686 2023-05-01 2024-04-30 13340686 2024-04-30 13340686 bus:Director1 1 2024-04-30 13340686 bus:OrdinaryShareClass1 2024-04-30 13340686 core:RetainedEarningsAccumulatedLosses 2024-04-30 13340686 core:ShareCapital 2024-04-30 13340686 core:CurrentFinancialInstruments 2024-04-30 13340686 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 13340686 core:Non-currentFinancialInstruments 2024-04-30 13340686 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 13340686 core:MotorVehicles 2024-04-30 13340686 core:OfficeEquipment 2024-04-30 13340686 core:PlantMachinery 2024-04-30 13340686 bus:SmallEntities 2023-05-01 2024-04-30 13340686 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13340686 bus:FullAccounts 2023-05-01 2024-04-30 13340686 bus:RegisteredOffice 2023-05-01 2024-04-30 13340686 bus:Director1 2023-05-01 2024-04-30 13340686 bus:Director1 1 2023-05-01 2024-04-30 13340686 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 13340686 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13340686 core:MotorVehicles 2023-05-01 2024-04-30 13340686 core:OfficeEquipment 2023-05-01 2024-04-30 13340686 core:PlantMachinery 2023-05-01 2024-04-30 13340686 core:Vehicles 2023-05-01 2024-04-30 13340686 countries:AllCountries 2023-05-01 2024-04-30 13340686 2023-04-30 13340686 bus:Director1 1 2023-04-30 13340686 core:MotorVehicles 2023-04-30 13340686 core:OfficeEquipment 2023-04-30 13340686 core:PlantMachinery 2023-04-30 13340686 2022-05-01 2023-04-30 13340686 2023-04-30 13340686 bus:Director1 1 2023-04-30 13340686 bus:OrdinaryShareClass1 2023-04-30 13340686 core:RetainedEarningsAccumulatedLosses 2023-04-30 13340686 core:ShareCapital 2023-04-30 13340686 core:CurrentFinancialInstruments 2023-04-30 13340686 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 13340686 core:Non-currentFinancialInstruments 2023-04-30 13340686 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 13340686 core:MotorVehicles 2023-04-30 13340686 core:OfficeEquipment 2023-04-30 13340686 core:PlantMachinery 2023-04-30 13340686 bus:Director1 1 2022-05-01 2023-04-30 13340686 bus:Director1 1 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 13340686

CHAPS (HPS) Wales Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

CHAPS (HPS) Wales Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

CHAPS (HPS) Wales Ltd

Company Information

Director

Mr C K Saunders

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

CHAPS (HPS) Wales Ltd

(Registration number: 13340686)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

41,669

24,066

Current assets

 

Stocks

6

33,980

23,250

Debtors

7

20,102

59,683

Cash at bank and in hand

 

2,012

-

 

56,094

82,933

Creditors: Amounts falling due within one year

8

(67,211)

(83,178)

Net current liabilities

 

(11,117)

(245)

Total assets less current liabilities

 

30,552

23,821

Creditors: Amounts falling due after more than one year

8

(23,148)

(9,661)

Net assets

 

7,404

14,160

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

7,304

14,060

Total equity

 

7,404

14,160

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

CHAPS (HPS) Wales Ltd

(Registration number: 13340686)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 23 January 2025
 

.........................................
Mr C K Saunders
Director

   
     
 

CHAPS (HPS) Wales Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 23 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

CHAPS (HPS) Wales Ltd

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

Tangible 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

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:

Asset class

Depreciation method and rate

Motor Vehicles

20% Reducing balance basis

Office equipment

20% Reducing balance basis

Plant and machinery

20% Reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

CHAPS (HPS) Wales Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 3).

 

CHAPS (HPS) Wales Ltd

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

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

9,297

5,017

 

CHAPS (HPS) Wales Ltd

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

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

2,000

1,490

28,866

32,356

Additions

-

-

26,900

26,900

At 30 April 2024

2,000

1,490

55,766

59,256

Depreciation

At 1 May 2023

720

536

7,034

8,290

Charge for the year

256

191

8,850

9,297

At 30 April 2024

976

727

15,884

17,587

Carrying amount

At 30 April 2024

1,024

763

39,882

41,669

At 30 April 2023

1,280

954

21,832

24,066

6

Stocks

2024
£

2023
£

Work in progress

22,000

11,000

Other inventories

11,980

12,250

33,980

23,250

7

Debtors

2024
£

2023
£

Trade debtors

3,694

44,883

Prepayments

902

2,629

Other debtors

15,506

12,171

20,102

59,683

 

CHAPS (HPS) Wales Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

9,377

10,706

Trade creditors

 

35,609

34,844

Directors' current account

 

20,099

31,857

Outstanding defined contribution pension costs

 

24

267

Corporation tax liability

 

52

3,824

Other creditors

 

2,050

1,680

 

67,211

83,178

Due after one year

 

Loans and borrowings

10

23,148

9,661

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

23,148

9,661

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

CHAPS (HPS) Wales Ltd

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

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

HP and finance lease liabilities

23,148

9,661

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

-

6,709

HP and finance lease liabilities

9,377

3,997

9,377

10,706

11

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Mr C K Saunders

Interest free loan repayable on demand

(31,857)

11,758

(20,099)

       
     

 

2023

At 1 May 2022
£

Repayments by director
£

At 30 April 2023
£

Mr C K Saunders

Interest free loan repayable on demand

(2,394)

(29,463)

(31,857)