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REGISTERED NUMBER: 02471013 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Chalkbay Services Limited

Chalkbay Services Limited (Registered number: 02471013)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chalkbay Services Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: A Graham (Senior)
Mrs J V Graham
Miss G Howard
Mrs J Parkinson





SECRETARY: Miss G Howard





REGISTERED OFFICE: Grosvenor House
1 Crowland Close
Southport
Merseyside
PR9 7RR





REGISTERED NUMBER: 02471013 (England and Wales)





ACCOUNTANTS: Topping & Company
Chartered Accountants
209 Liverpool Road
Birkdale
Southport
Merseyside
PR8 4PH

Chalkbay Services Limited (Registered number: 02471013)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 900,000 790,000

CURRENT ASSETS
Debtors 5 157,600 157,600
Cash at bank 97,580 165,981
255,180 323,581
CREDITORS
Amounts falling due within one year 6 183,211 110,063
NET CURRENT ASSETS 71,969 213,518
TOTAL ASSETS LESS CURRENT
LIABILITIES

971,969

1,003,518

CREDITORS
Amounts falling due after more than one
year

7

-

(138,532

)

PROVISIONS FOR LIABILITIES (138,167 ) (79,215 )
NET ASSETS 833,802 785,771

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 678,979 568,979
Retained earnings 154,723 216,692
SHAREHOLDERS' FUNDS 833,802 785,771

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

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

Chalkbay Services Limited (Registered number: 02471013)

Balance Sheet - continued
31 August 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 March 2025 and were signed on its behalf by:





Miss G Howard - Director


Chalkbay Services Limited (Registered number: 02471013)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Chalkbay Services Limited is a private limited company, incorporated and registered in England and Wales (registered number 02471013). The address of the registered office is Grosvenor House, 1 Crowland Close, Southport, Merseyside, PR9 7RR.

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 as modified by the revaluation of certain assets.

The company's functional and presentational currency is GBP.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of rents receivable during the year.

Investment property
Investment property is included at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the investment property is sold.

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 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.

Chalkbay Services Limited (Registered number: 02471013)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities.

Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Short term debtors are measured at transaction price, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities are measured at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial assets are derecognised when the rights to receive cash flows from the asset have expired. Provision is made when there is objective evidence that the company will not be able to collect certain debts. Bad debts are written off when identified. Financial liabilities are derecognised when the obligations under the liability is discharged, cancelled or expires.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 790,000
Fair Value Adjustment 110,000
At 31 August 2024 900,000
NET BOOK VALUE
At 31 August 2024 900,000
At 31 August 2023 790,000

The investment property was valued on an open market value basis on 4 December 2024 by MO Valuations Limited. The Company Directors consider the open market value of the investment property to equate to its fair value at 31 August 2024 of £900,000 (2023: £790,000).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Amounts owed by participating interests 37,600 37,600
Other debtors 120,000 120,000
157,600 157,600

Chalkbay Services Limited (Registered number: 02471013)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 146,724 44,891
Taxation and social security 20,006 15,521
Other creditors 16,481 49,651
183,211 110,063

The company does not have a bank overdraft.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 138,532

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 24,989

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 146,724 183,423

The bank loans are secured by fixed and floating charges over the leasehold property 1 to 7 Crowland Close, Southport, Merseyside, PR9 7RR together with all buildings & fixtures, fixed plant & machinery, all present and future book and other debts, moveable plant & machinery and goodwill of the business and an unlimited debenture from Chalkbay Services Limited.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 (2023 - £45,000) were paid to the directors .

Bulldog Products Limited is a company related by virtue of the Directors' associated shareholdings. During the year ended 31 August 2024 the company received rent of £88,855 (2023: £95,000) from Bulldog Products Limited.
Included within Debtors as at 31 August 2024 is an amount of £37,600 (2023: £37,600) receivable by Chalkbay Services Limited from Bulldog Products Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the Directors', Mr & Mrs A Graham, by virtue of their shareholding in the company.

Chalkbay Services Limited (Registered number: 02471013)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

11. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

The preparation of the financial statements, in conformity with generally accepted accounting principles, requires the use of estimates and judgements that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on the directors' best knowledge of current events and results, actual results ultimately may differ from those estimates.

In preparing these financial statements the directors reviewed the carrying value of the company's investment property as at 31 August 2024 for indicators of impairment. The company directors consider the fair value of the company's investment property as at 31 August 2024 to be £900,000.

The directors do not consider there to be any additional estimates and judgements in connection with the preparation of the company's year ended 31 August 2024 financial statements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities at the balance sheet date of 31 August 2024.