IRIS Accounts Production v24.3.0.553 10774004 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh107740042023-05-31107740042024-05-31107740042023-06-012024-05-31107740042022-05-31107740042022-06-012023-05-31107740042023-05-3110774004ns15:EnglandWales2023-06-012024-05-3110774004ns14:PoundSterling2023-06-012024-05-3110774004ns10:Director12023-06-012024-05-3110774004ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3110774004ns10:SmallEntities2023-06-012024-05-3110774004ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3110774004ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3110774004ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3110774004ns10:FullAccounts2023-06-012024-05-311077400412023-06-012024-05-3110774004ns10:Director22023-06-012024-05-3110774004ns10:RegisteredOffice2023-06-012024-05-3110774004ns5:CurrentFinancialInstruments2024-05-3110774004ns5:CurrentFinancialInstruments2023-05-3110774004ns5:Non-currentFinancialInstruments2024-05-3110774004ns5:Non-currentFinancialInstruments2023-05-3110774004ns5:ShareCapital2024-05-3110774004ns5:ShareCapital2023-05-3110774004ns5:RetainedEarningsAccumulatedLosses2024-05-3110774004ns5:RetainedEarningsAccumulatedLosses2023-05-3110774004ns5:NetGoodwill2023-06-012024-05-3110774004ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3110774004ns5:PlantMachinery2023-06-012024-05-3110774004ns5:NetGoodwill2023-05-3110774004ns5:NetGoodwill2024-05-3110774004ns5:NetGoodwill2023-05-3110774004ns5:LandBuildings2023-05-3110774004ns5:PlantMachinery2023-05-3110774004ns5:LandBuildings2023-06-012024-05-3110774004ns5:LandBuildings2024-05-3110774004ns5:PlantMachinery2024-05-3110774004ns5:LandBuildings2023-05-3110774004ns5:PlantMachinery2023-05-3110774004ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3110774004ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-31107740041ns10:Director12023-05-31107740041ns10:Director12022-05-31107740041ns10:Director12023-06-012024-05-31107740041ns10:Director12022-06-012023-05-31107740041ns10:Director12024-05-31107740041ns10:Director12023-05-3110774004ns10:Director222023-05-3110774004ns10:Director222022-05-3110774004ns10:Director222023-06-012024-05-3110774004ns10:Director222022-06-012023-05-3110774004ns10:Director222024-05-3110774004ns10:Director222023-05-31
REGISTERED NUMBER: 10774004 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

CHEPSTOW MOTORS LIMITED

CHEPSTOW MOTORS LIMITED (REGISTERED NUMBER: 10774004)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHEPSTOW MOTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: M R Sahabdeen
Mrs A W Sahabdeen





REGISTERED OFFICE: 1 Kinley Barn Bishton Lane
Tidenham
Chepstow
United Kingdom
NP16 7LG





REGISTERED NUMBER: 10774004 (England and Wales)





ACCOUNTANTS: DAVID WRIGHT ACCOUNTANTS LIMITED
Unit 10
Bridgend Business Park
Bennett Street
Bridgend
Glamorgan
CF31 3SH

CHEPSTOW MOTORS LIMITED (REGISTERED NUMBER: 10774004)

BALANCE SHEET
31 MAY 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,800 9,600
Tangible assets 5 90,985 82,616
98,785 92,216

CURRENT ASSETS
Stocks 131,000 38,500
Debtors 6 144,359 109,441
Cash at bank 58,860 24,481
334,219 172,422
CREDITORS
Amounts falling due within one year 7 367,865 227,132
NET CURRENT LIABILITIES (33,646 ) (54,710 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,139

37,506

CREDITORS
Amounts falling due after more than one year 8 63,736 36,310
NET ASSETS 1,403 1,196

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,401 1,194
1,403 1,196

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

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

CHEPSTOW MOTORS LIMITED (REGISTERED NUMBER: 10774004)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2025 and were signed on its behalf by:





M R Sahabdeen - Director


CHEPSTOW MOTORS LIMITED (REGISTERED NUMBER: 10774004)

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


1. STATUTORY INFORMATION

Chepstow Motors Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


CHEPSTOW MOTORS LIMITED (REGISTERED NUMBER: 10774004)

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


2. ACCOUNTING POLICIES - continued
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.

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 25 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 18,000
AMORTISATION
At 1 June 2023 8,400
Charge for year 1,800
At 31 May 2024 10,200
NET BOOK VALUE
At 31 May 2024 7,800
At 31 May 2023 9,600

CHEPSTOW MOTORS LIMITED (REGISTERED NUMBER: 10774004)

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


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 26,360 177,355 203,715
Additions - 33,673 33,673
At 31 May 2024 26,360 211,028 237,388
DEPRECIATION
At 1 June 2023 7,908 113,191 121,099
Charge for year 2,636 22,668 25,304
At 31 May 2024 10,544 135,859 146,403
NET BOOK VALUE
At 31 May 2024 15,816 75,169 90,985
At 31 May 2023 18,452 64,164 82,616

Included in Fixed assets are amounts on hire purchase with a Net book value of £6,116 (2023: £10,872) and depreciation for the year of £2,039 (2023:£2,718).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 71,970 47,527
Other debtors 72,389 61,914
144,359 109,441

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans and overdrafts 11,398 6,000
Hire purchase contracts and finance leases 27,906 5,429
Taxation and social security 251,136 167,831
Other creditors 77,425 47,872
367,865 227,132

CHEPSTOW MOTORS LIMITED (REGISTERED NUMBER: 10774004)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/24 31/5/23
£    £   
Bank loans 40,602 32,000
Hire purchase contracts and finance leases 23,134 4,310
63,736 36,310

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31/5/24 31/5/23
£    £   
M R Sahabdeen
Balance outstanding at start of year 31,562 (3,632 )
Amounts advanced 62,886 142,466
Amounts repaid (94,670 ) (107,272 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (222 ) 31,562

Mrs A W Sahabdeen
Balance outstanding at start of year (36 ) (3,632 )
Amounts advanced 146,327 67,118
Amounts repaid (147,488 ) (63,522 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,197 ) (36 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is M R Sahabdeen.