24 false false false false false false false false false false true false false false false false false No description of principal activity 2024-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07163933 2024-03-01 2024-11-30 07163933 2024-11-30 07163933 2024-02-29 07163933 2023-03-01 2024-02-29 07163933 2024-02-29 07163933 2023-02-28 07163933 core:PlantMachinery 2024-03-01 2024-11-30 07163933 core:MotorVehicles 2024-03-01 2024-11-30 07163933 bus:Director2 2024-03-01 2024-11-30 07163933 core:PlantMachinery 2024-02-29 07163933 core:MotorVehicles 2024-02-29 07163933 core:PlantMachinery 2024-11-30 07163933 core:MotorVehicles 2024-11-30 07163933 core:WithinOneYear 2024-11-30 07163933 core:WithinOneYear 2024-02-29 07163933 core:AfterOneYear 2024-11-30 07163933 core:AfterOneYear 2024-02-29 07163933 core:ShareCapital 2024-11-30 07163933 core:ShareCapital 2024-02-29 07163933 core:RetainedEarningsAccumulatedLosses 2024-11-30 07163933 core:RetainedEarningsAccumulatedLosses 2024-02-29 07163933 core:PlantMachinery 2024-02-29 07163933 core:MotorVehicles 2024-02-29 07163933 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-11-30 07163933 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-02-29 07163933 bus:SmallEntities 2024-03-01 2024-11-30 07163933 bus:AuditExempt-NoAccountantsReport 2024-03-01 2024-11-30 07163933 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2024-11-30 07163933 bus:PrivateLimitedCompanyLtd 2024-03-01 2024-11-30 07163933 bus:FullAccounts 2024-03-01 2024-11-30
COMPANY REGISTRATION NUMBER: 07163933
Chilton Bulk Transport Ltd
Filleted Unaudited Financial Statements
30 November 2024
Chilton Bulk Transport Ltd
Statement of Financial Position
30 November 2024
30 Nov 24
29 Feb 24
Note
£
£
Fixed assets
Tangible assets
5
2,416,215
2,562,092
Current assets
Stocks
7,750
7,250
Debtors
6
912,145
657,389
Cash at bank and in hand
289,546
259,643
------------
---------
1,209,441
924,282
Creditors: amounts falling due within one year
7
1,016,256
892,448
------------
---------
Net current assets
193,185
31,834
------------
------------
Total assets less current liabilities
2,609,400
2,593,926
Creditors: amounts falling due after more than one year
8
754,877
963,977
Provisions
Taxation including deferred tax
375,909
319,515
------------
------------
Net assets
1,478,614
1,310,434
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,478,514
1,310,334
------------
------------
Shareholders funds
1,478,614
1,310,434
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 November 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Chilton Bulk Transport Ltd
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
Mrs V Chilton
Director
Company registration number: 07163933
Chilton Bulk Transport Ltd
Notes to the Financial Statements
Period from 1 March 2024 to 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brierly House, Penyfan, Aberbeeg, Abertillery, NP13 2DT, Gwent.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
20% straight line
Motor Vehicles
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 24 (2024: 24 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 March 2024
39,475
3,988,369
4,027,844
Additions
209
397,530
397,739
Disposals
( 592,557)
( 592,557)
--------
------------
------------
At 30 November 2024
39,684
3,793,342
3,833,026
--------
------------
------------
Depreciation
At 1 March 2024
31,783
1,433,969
1,465,752
Charge for the period
2,828
341,688
344,516
Disposals
( 393,457)
( 393,457)
--------
------------
------------
At 30 November 2024
34,611
1,382,200
1,416,811
--------
------------
------------
Carrying amount
At 30 November 2024
5,073
2,411,142
2,416,215
--------
------------
------------
At 29 February 2024
7,692
2,554,400
2,562,092
--------
------------
------------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 November 2024
2,263,257
------------
At 29 February 2024
2,356,106
------------
6. Debtors
30 Nov 24
29 Feb 24
£
£
Trade debtors
852,848
592,768
Other debtors
59,297
64,621
---------
---------
912,145
657,389
---------
---------
7. Creditors: amounts falling due within one year
30 Nov 24
29 Feb 24
£
£
Bank loans and overdrafts
6,170
Trade creditors
185,923
132,959
Social security and other taxes
185,277
18,369
Other creditors
645,056
734,950
------------
---------
1,016,256
892,448
------------
---------
Included in other creditors is £25,834 (2024: £27,904) owed to the Directors.
8. Creditors: amounts falling due after more than one year
30 Nov 24
29 Feb 24
£
£
Other creditors
754,877
963,977
---------
---------
9. Directors' advances, credits and guarantees
There were no advances, credits or guarantees made towards Directors during the year.