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CHAPELFIELD CAR SALES LTD

Registered Number
10806720
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

CHAPELFIELD CAR SALES LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

COSGROVE, Barry

Registered Address

Grosvenor House Downcast Way
Swinton
Manchester
M27 8UW

Place of Business

Lodge Road

Outwood Road

Radcliffe

Manchester

M26 1AL


Registered Number

10806720 (England and Wales)
CHAPELFIELD CAR SALES LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets311,40515,104
11,40515,104
Current assets
Stocks4132,378110,866
Debtors76,59710,902
Cash at bank and on hand38,61323,676
247,588145,444
Creditors amounts falling due within one year5(178,280)(108,823)
Net current assets (liabilities)69,30836,621
Total assets less current liabilities80,71351,725
Creditors amounts falling due after one year6(35,578)(43,176)
Net assets45,1358,549
Capital and reserves
Called up share capital100100
Profit and loss account45,0358,449
Shareholders' funds45,1358,549
The financial statements were approved and authorised for issue by the Director on 18 March 2025, and are signed on its behalf by:
COSGROVE, Barry
Director
Registered Company No. 10806720
CHAPELFIELD CAR SALES LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Total

££
Cost or valuation
At 01 July 2318,49518,495
At 30 June 2418,49518,495
Depreciation and impairment
At 01 July 233,3913,391
Charge for year3,6993,699
At 30 June 247,0907,090
Net book value
At 30 June 2411,40511,405
At 30 June 2315,10415,104
4.Stocks

2024

2023

££
Other stocks132,378110,866
Total132,378110,866
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables123,74667,895
Bank borrowings and overdrafts25,73932,324
Taxation and social security28,7958,604
Total178,280108,823
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts35,57843,176
Total35,57843,176