31 March 2023 v2025.12.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP046920972023-03-312024-03-29046920972024-03-29046920972023-03-3004692097core:WithinOneYear2024-03-2904692097core:WithinOneYear2023-03-3004692097core:AfterOneYear2024-03-2904692097core:AfterOneYear2023-03-3004692097core:ShareCapital2024-03-2904692097core:ShareCapital2023-03-3004692097core:RetainedEarningsAccumulatedLosses2024-03-2904692097core:RetainedEarningsAccumulatedLosses2023-03-3004692097bus:Director12023-03-312024-03-2904692097bus:RegisteredOffice2023-03-312024-03-2904692097core:NetGoodwill2023-03-312024-03-2904692097core:PlantMachinery2023-03-312024-03-2904692097core:OfficeEquipment2023-03-312024-03-2904692097core:FurnitureFittingsToolsEquipment2023-03-312024-03-2904692097core:MotorVehicles2023-03-312024-03-29046920972022-04-012023-03-3004692097core:NetGoodwill2024-03-2904692097core:LandBuildings2023-03-3104692097core:PlantMachinery2023-03-31046920972023-03-3104692097core:LandBuildings2024-03-2904692097core:PlantMachinery2024-03-2904692097core:LandBuildings2023-03-3004692097core:PlantMachinery2023-03-300469209712023-03-312024-03-2904692097countries:EnglandWales2023-03-312024-03-2904692097bus:AuditExemptWithAccountantsReport2023-03-312024-03-2904692097bus:PrivateLimitedCompanyLtd2023-03-312024-03-2904692097bus:SmallEntities2023-03-312024-03-2904692097bus:FullAccounts2023-03-312024-03-29
Company registration number:
04692097
Challener Brothers Limited
Unaudited Filleted Financial Statements for the period ended
29 March 2024
Challener Brothers Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Challener Brothers Limited
Period ended
29 March 2024
As described on the statement of financial position, the Board of Directors of
Challener Brothers Limited
are responsible for the preparation of the
financial statements
for the period ended
29 March 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Sutton & Co Accountants Ltd
25 Park Street
Macclesfield
Cheshire
SK11 6SS
United Kingdom
Date:
27 February 2025
Challener Brothers Limited
Statement of Financial Position
29 March 2024
29 Mar 202430 Mar 2023
Note££
Fixed assets    
Tangible assets 6
9,748
 
11,247
 
Current assets    
Stocks
500
 
1,200
 
Debtors 7
839
 
1,277
 
Cash at bank and in hand
1,075
 
975
 
2,414
 
3,452
 
Creditors: amounts falling due within one year 8
(61,190
)
(54,395
)
Net current liabilities
(58,776
)
(50,943
)
Total assets less current liabilities (49,028 ) (39,696 )
Creditors: amounts falling due after more than one year 9
(20,144
)
(23,752
)
Net liabilities
(69,172
)
(63,448
)
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(69,272
)
(63,548
)
Shareholders deficit
(69,172
)
(63,448
)
For the period ending
29 March 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 financial statements for the period in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
27 February 2025
, and are signed on behalf of the board by:
Christopher John Challener
Director
Company registration number:
04692097
Challener Brothers Limited
Notes to the Financial Statements
Period ended
29 March 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Garth Isaf
,
Fron Goch
,
Bala
,
Gwynedd
,
LL23 7NU
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 company.

Going concern

The company meets its day to day working requirements through a bank overdraft facility, which is repayable on demand. This is supplemented by a Government backed loan repayable within ten years. There has been additional support from the sole director. Evidence since the Balance Sheet date indicates that this support is continuing. The sole director considers that it is appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue is measured at the fair value of the consideration received or receivable. Revenue from the sale of goods and services is recognised when they are supplied and invoiced.

Current tax

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.

Goodwill

Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation. It is amortised on a straight-line basis over its useful economic life of twenty years and is now fully amortised.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation .
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15% reducing balance basis
Office equipment
25% straight line basis
Fixtures, fittings and equipment
20% reducing balance basis
Motor vehicles
25% reducing balance basis

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 stocks to their present location and condition.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the period was
1
(2023:
2
).

5 Intangible assets

Goodwill
£
Cost  
At
31 March 2023
and
29 March 2024
80,000
 
Amortisation  
At
31 March 2023
and
29 March 2024
80,000
 
Carrying amount  
At
29 March 2024
-  
At 30 March 2023 -  

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
31 March 2023
4,494
 
42,808
 
47,302
 
Additions -  
1,304
 
1,304
 
Disposals -  
(3,495
)
(3,495
)
At
29 March 2024
4,494
 
40,617
 
45,111
 
Depreciation      
At
31 March 2023
-  
36,055
 
36,055
 
Charge -  
1,311
 
1,311
 
Disposals -  
(2,003
)
(2,003
)
At
29 March 2024
-  
35,363
 
35,363
 
Carrying amount      
At
29 March 2024
4,494
 
5,254
 
9,748
 
At 30 March 2023
4,494
 
6,753
 
11,247
 

7 Debtors

29 Mar 202430 Mar 2023
££
Other debtors
839
 
1,277
 

8 Creditors: amounts falling due within one year

29 Mar 202430 Mar 2023
££
Bank loans and overdrafts
14,844
 
14,757
 
Trade creditors
3,300
 
6,113
 
Taxation and social security
3,361
 
3,102
 
Other creditors
39,685
 
30,423
 
61,190
 
54,395
 

9 Creditors: amounts falling due after more than one year

29 Mar 202430 Mar 2023
££
Bank loans and overdrafts
20,144
 
23,752
 
The bank loan outstanding at the reporting date includes instalments due after more than five years of £7,078 ( 2023 - £10,495).