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Registration number: 04766602

Chay Hedger Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Chay Hedger Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Chay Hedger Limited

(Registration number: 04766602)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,264

6,153

Current assets

 

Stocks

5

14,930

20,660

Debtors

6

154,447

130,593

Cash at bank and in hand

 

-

42,337

 

169,377

193,590

Creditors: Amounts falling due within one year

7

(159,500)

(155,954)

Net current assets

 

9,877

37,636

Total assets less current liabilities

 

15,141

43,789

Creditors: Amounts falling due after more than one year

7

(7,957)

(11,644)

Provisions for liabilities

(1,000)

(1,169)

Net assets

 

6,184

30,976

Capital and reserves

 

Called up share capital

10

10

Retained earnings

6,174

30,966

Shareholders' funds

 

6,184

30,976

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 February 2025 and signed on its behalf by:
 

 

Chay Hedger Limited

(Registration number: 04766602)
Balance Sheet as at 31 May 2024

.........................................
Mr Chay Ruston Hedger
Director

 

Chay Hedger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
Unit 1
Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
United Kingdom

These financial statements were authorised for issue by the Board on 10 February 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Chay Hedger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

 

Chay Hedger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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.

Trade 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.

Trade 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.

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.

 

Chay Hedger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 directors) during the year, was 4 (2023 - 3).

 

Chay Hedger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

5,442

11,132

33,324

49,898

Additions

-

-

948

948

At 31 May 2024

5,442

11,132

34,272

50,846

Depreciation

At 1 June 2023

2,371

10,237

31,137

43,745

Charge for the year

768

224

845

1,837

At 31 May 2024

3,139

10,461

31,982

45,582

Carrying amount

At 31 May 2024

2,303

671

2,290

5,264

At 31 May 2023

3,071

895

2,187

6,153

5

Stocks

2024
£

2023
£

Work in progress

13,430

20,660

Other inventories

1,500

-

14,930

20,660

6

Debtors

Current

2024
£

2023
£

Trade debtors

23,334

4,686

Prepayments

7,698

3,492

Other debtors

123,415

122,415

 

154,447

130,593

 

Chay Hedger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

12

14,545

10,000

Trade creditors

 

15,933

14,898

Taxation and social security

 

43,800

42,617

Accruals and deferred income

 

4,461

4,371

Other creditors

 

80,761

84,068

 

159,500

155,954

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

12

7,957

11,644

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

10

10

10

10

         

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of 11,000.00 (2023 - 11,800.00) per each Ordinary

110,000

118,000

 

 
 

Chay Hedger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

10

Related party transactions

Other transactions with directors

At the year end the company owed the director £234 (2023: £176). There are no set terms for repayment and no interest being charged.

At the year end, included within other debtors, is an amount owed to Chay Hedger Limited from C&L Investments Limited of £123,415.

At the year end, included within other creditors, is an amount owed to CRH Developments Limited from Chay Hedger Limited of £76,861.

11

Parent and ultimate parent undertaking

The ultimate controlling party is Chay Hedger as Director and shareholder.

12

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,957

11,644

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Bank overdrafts

4,545

-

14,545

10,000