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Registration number: 06298727

Chesters Executive Travel Limited

Unaudited Financial Statements

for the Period from 1 April 2024 to 31 December 2024

 

Chesters Executive Travel Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Chesters Executive Travel Limited

(Registration number: 06298727)
Balance Sheet as at 31 December 2024

Note

31 December
2024
£

31 March
2024
£

Fixed assets

 

Tangible assets

4

-

228,715

Current assets

 

Stocks

5

-

2,350

Debtors

6

712,299

911,946

Cash at bank and in hand

 

1,652,547

1,249,908

 

2,364,846

2,164,204

Creditors: Amounts falling due within one year

7

(157,862)

(382,819)

Net current assets

 

2,206,984

1,781,385

Total assets less current liabilities

 

2,206,984

2,010,100

Creditors: Amounts falling due after more than one year

7

-

(12,435)

Provisions for liabilities

-

(43,352)

Net assets

 

2,206,984

1,954,313

Capital and reserves

 

Called up share capital

1

1

Retained earnings

2,206,983

1,954,312

Shareholders' funds

 

2,206,984

1,954,313

 

Chesters Executive Travel Limited

(Registration number: 06298727)
Balance Sheet as at 31 December 2024

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 March 2025
 

.........................................
Mr C Chester
Director

   
     
 

Chesters Executive Travel Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

1

General information

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

The address of its registered office is:
The Coach Station
Sharp Street
Worsley
Manchester
M28 3LX

These financial statements were authorised for issue by the director on 7 March 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.

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.

 

Chesters Executive Travel Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

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

Office equipment, plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Building

2% Straight line

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.

 

Chesters Executive Travel Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 the director) during the period, was 6 (2024 - 8).

 

Chesters Executive Travel Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

4

Tangible assets

Buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

67,000

62,742

468,359

598,101

Disposals

(67,000)

(62,742)

(468,359)

(598,101)

At 31 December 2024

-

-

-

-

Depreciation

At 1 April 2024

2,066

31,799

335,521

369,386

Charge for the period

391

4,512

10,812

15,715

Eliminated on disposal

(2,457)

(36,311)

(346,333)

(385,101)

At 31 December 2024

-

-

-

-

Carrying amount

At 31 December 2024

-

-

-

-

At 31 March 2024

64,934

30,943

132,838

228,715

Included within the net book value of land and buildings above is £Nil (2024 - £64,934) in respect of freehold land and buildings.
 

5

Stocks

31 December
2024
£

31 March
2024
£

Other inventories

-

2,350

6

Debtors

Current

31 December
2024
£

31 March
2024
£

Trade debtors

1,950

190,673

Prepayments

-

18,587

Other debtors

710,349

702,686

 

712,299

911,946

 

Chesters Executive Travel Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

31 December
2024
£

31 March
2024
£

Due within one year

 

Loans and borrowings

8

-

10,000

Trade creditors

 

-

32,989

Taxation and social security

 

157,862

179,778

Accruals and deferred income

 

-

110,450

Other creditors

 

-

49,602

 

157,862

382,819

Creditors: amounts falling due after more than one year

Note

31 December
2024
£

31 March
2024
£

Due after one year

 

Loans and borrowings

8

-

12,435

8

Loans and borrowings

Non-current loans and borrowings

31 December
2024
£

31 March
2024
£

Bank borrowings

-

12,435

Current loans and borrowings

31 December
2024
£

31 March
2024
£

Bank borrowings

-

10,000

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £600 (2024 - £3,298).