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REGISTERED NUMBER: 11204266 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

CHAPTERS RETAIL LTD

CHAPTERS RETAIL LTD (REGISTERED NUMBER: 11204266)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CHAPTERS RETAIL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: T Edwards





REGISTERED OFFICE: 26 Park Road North
Bedford
Bedfordshire
MK41 7RH





REGISTERED NUMBER: 11204266 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

CHAPTERS RETAIL LTD (REGISTERED NUMBER: 11204266)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,973 14,069

CURRENT ASSETS
Stocks 5 4,113 4,600
Debtors 6 64,874 63,248
Cash at bank 14,343 11,238
83,330 79,086
CREDITORS
Amounts falling due within one year 7 53,342 41,513
NET CURRENT ASSETS 29,988 37,573
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,961

51,642

CREDITORS
Amounts falling due after more than one year 8 (9,455 ) (18,677 )

PROVISIONS FOR LIABILITIES 9 (1,409 ) (2,673 )
NET ASSETS 26,097 30,292

CAPITAL AND RESERVES
Called up share capital 10 110 110
Retained earnings 25,987 30,182
SHAREHOLDERS' FUNDS 26,097 30,292

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 director acknowledges his 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.

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 director and authorised for issue on 26 February 2025 and were signed by:





T Edwards - Director


CHAPTERS RETAIL LTD (REGISTERED NUMBER: 11204266)

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

1. STATUTORY INFORMATION

Chapters Retail Ltd 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.

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 - 25% on cost
Fixtures and fittings - 25% on cost

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.

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.

Bounce back loan scheme
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the Coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay in the first 12 months. After 12 months the interest rate will be 2.5% a year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

CHAPTERS RETAIL LTD (REGISTERED NUMBER: 11204266)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
Cost
At 1 June 2023 30,454 3,389 33,843
Additions 1,504 - 1,504
At 31 May 2024 31,958 3,389 35,347
Depreciation
At 1 June 2023 17,546 2,228 19,774
Charge for year 7,753 847 8,600
At 31 May 2024 25,299 3,075 28,374
Net book value
At 31 May 2024 6,659 314 6,973
At 31 May 2023 12,908 1,161 14,069

5. STOCKS
2024 2023
£    £   
Stocks 4,113 4,600

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 63,248 63,248
Prepayments and accrued income 1,626 -
64,874 63,248

Included within 'Other debtors' is an amount of £8,130 (2023: £8,130) in respect of a rent deposit which is due to be recovered in more than one year from the balance sheet date.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,618 8,994
Corporation tax 547 59
Social security and other taxes 832 517
VAT 3,601 4,842
Other creditors 4,473 4,040
Director's loan account 32,548 21,338
Accruals and deferred income 1,723 1,723
53,342 41,513

The bank loan relates to a Business Bounce Back Loan undertaken in 2020. Interest is charged at 2.5% per annum. There are no set repayment terms in place.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 9,455 18,677

CHAPTERS RETAIL LTD (REGISTERED NUMBER: 11204266)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loan relates to a Business Bounce Back Loan undertaken in 2020. Interest is charged at 2.5% per annum. There are no set repayment terms in place.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,409 2,673

Deferred
tax
£   
Balance at 1 June 2023 2,673
Movement (1,264 )
Balance at 31 May 2024 1,409

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 100 100 100
1 Ordinary B 5 5 5
1 Ordinary C 5 5 5
110 110

Ordinary B and Ordinary C shares hold no voting rights.

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £32,548 (2023: £21,338) to the director. No interest has been charged during the year (2023: £Nil) and there are no set repayment terms in place.

12. POST BALANCE SHEET EVENTS

On 28th June 2024, a debtor amounting to £55,000 entered insolvency proceedings and as such the debtor is deemed as not recoverable by the director.