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Registered number: 01329301
Chariot Office Supplies Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01329301
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 58,148 53,970
58,148 53,970
CURRENT ASSETS
Stocks 5 34,727 41,541
Debtors 6 264,133 283,650
Cash at bank and in hand 70,351 49,400
369,211 374,591
Creditors: Amounts Falling Due Within One Year 7 (306,386 ) (289,289 )
NET CURRENT ASSETS (LIABILITIES) 62,825 85,302
TOTAL ASSETS LESS CURRENT LIABILITIES 120,973 139,272
Creditors: Amounts Falling Due After More Than One Year 8 (38,253 ) (40,270 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (164 )
NET ASSETS 82,720 98,838
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 82,620 98,738
SHAREHOLDERS' FUNDS 82,720 98,838
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M B Carter
Director
P F McCarthy
Director
C M Carter
Director
6th March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Chariot Office Supplies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01329301 . The registered office is Unit 14 Norbury Court, 7 Welcomb Street, Manchester, M11 2NB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 15% on Cost
Motor Vehicles 25% on Reducing Balance
Fixtures & Fittings 15% on Reducing Balance
Computer Equipment 20% on Cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 13)
12 13
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 53,086 68,286 15,942 26,218 163,532
Additions - 22,990 - - 22,990
As at 31 October 2024 53,086 91,276 15,942 26,218 186,522
Depreciation
As at 1 November 2023 47,184 32,807 9,566 20,005 109,562
Provided during the period 1,179 14,617 956 2,060 18,812
As at 31 October 2024 48,363 47,424 10,522 22,065 128,374
Net Book Value
As at 31 October 2024 4,723 43,852 5,420 4,153 58,148
As at 1 November 2023 5,902 35,479 6,376 6,213 53,970
5. Stocks
2024 2023
£ £
Materials 34,727 41,541
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 252,584 255,029
Prepayments and accrued income 7,655 11,818
Other debtors 3,894 3,894
Corporation tax recoverable assets - 12,909
264,133 283,650
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,110 5,608
Trade creditors 245,571 237,019
Bank loans and overdrafts 10,354 10,098
Other taxes and social security 8,837 9,917
VAT 23,166 18,809
Other creditors 398 -
Accruals and deferred income 7,950 7,838
306,386 289,289
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 32,093 23,756
Bank loans 6,160 16,514
38,253 40,270
9. Secured Creditors
The following bank loans and overdrafts facility with National Westminster Bank plc are secured by a fixed and floating charge over the assets of the company:
2024 2023
£ £
Bank loans and overdrafts 16,514 26,612
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,498 7,890
Later than one year and not later than five years 36,359 27,614
49,857 35,504
Less: Finance charges allocated to future periods 7,654 6,140
42,203 29,364
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 21,205 30,728
Later than one year and not later than five years 63,801 71,190
85,006 101,918
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