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Registration number: 04782747

Chippington Derrick Consultants Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

Chippington Derrick Consultants Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Chippington Derrick Consultants Limited

Company Information

Directors

Dr Deborah Chippington Derrick

Dr Timothy Charles Chippington Derrick

Company secretary

Dr Deborah Chippington Derrick

Registered office

The Centre
Reading Road
Eversley Centre
Hampshire
RG27 0NB

Accountants

David Jones & Co 2018 Limited
AccountantsThe Centre
Reading Road
Eversley Centre
Hampshire
RG27 0NB

 

Chippington Derrick Consultants Limited

(Registration number: 04782747)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,262

5,683

Current assets

 

Stocks

6

953

953

Cash at bank and in hand

 

229,807

322,780

 

230,760

323,733

Prepayments and accrued income

 

45,690

76,450

Creditors: Amounts falling due within one year

(61,428)

(130,613)

Net current assets

 

215,022

269,570

Total assets less current liabilities

 

219,284

275,253

Provisions for liabilities

(1,427)

(1,137)

Accruals and deferred income

 

(4,987)

(6,240)

Net assets

 

212,870

267,876

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

212,868

267,874

Shareholders' funds

 

212,870

267,876

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 20 February 2025 and signed on its behalf by:
 

 

Chippington Derrick Consultants Limited

(Registration number: 04782747)
Abridged Balance Sheet as at 31 May 2024

.........................................
Dr Timothy Charles Chippington Derrick
Director

 

Chippington Derrick Consultants Limited

Notes to the Unaudited Abridged 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 & Wales.

The address of its registered office is:
The Centre
Reading Road
Eversley Centre
Hampshire
RG27 0NB

These financial statements were authorised for issue by the Board on 20 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 abridged 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 abridged 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.

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 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.

 

Chippington Derrick Consultants Limited

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

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

Fixtures & fittings

15% reducing balance

Office equipment

25% reducing balance

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.

 

Chippington Derrick Consultants Limited

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

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.

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 2 (2023 - 2).

 

Chippington Derrick Consultants Limited

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

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

1,729

37,875

39,604

At 31 May 2024

1,729

37,875

39,604

Depreciation

At 1 June 2023

1,597

32,324

33,921

Charge for the year

33

1,388

1,421

At 31 May 2024

1,630

33,712

35,342

Carrying amount

At 31 May 2024

99

4,163

4,262

At 31 May 2023

132

5,551

5,683

5

Other financial assets (current and non-current)

Current financial assets

Cost or valuation

Impairment

Carrying amount

At 31 May 2024

6

Stocks

2024
£

2023
£

Other inventories

953

953

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

Chippington Derrick Consultants Limited

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

2024

2023

No.

£

No.

£

Ordinary £1 of £1 each

2

2

2

2

       

9

Dividends

2024

2023

£

£

 

 

10

Related party transactions

 

Chippington Derrick Consultants Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,140

22,190

Contributions paid to money purchase schemes

97,996

57,996

123,136

80,186