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Registration number: 11406657

Chiselbuild Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2024

 

Chiselbuild Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Chiselbuild Ltd

Company Information

Director

Mrs A C L Boucher

Registered office

Balham Hill Farm
Chiselborough
Stoke Sub Hambon
Somerset
TA14 6TY

Bankers

NatWest Bank plc
72 High Street
Somerset
BA16 0EJ

Accountants

Scott Vevers Ltd
Chartered Accountants
and Registered Auditors
65 East Street
Bridport
Dorset
DT6 3LB

 

Chiselbuild Ltd

(Registration number: 11406657)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,643

20,858

Current assets

 

Debtors

898

10,209

Cash at bank and in hand

 

635

24,996

 

1,533

35,205

Creditors: Amounts falling due within one year

(58,719)

(21,129)

Net current (liabilities)/assets

 

(57,186)

14,076

Total assets less current liabilities

 

(41,543)

34,934

Creditors: Amounts falling due after more than one year

(6,748)

(13,935)

Provisions for liabilities

(2,972)

(4,001)

Accruals and deferred income

 

(2,350)

(2,450)

Net (liabilities)/assets

 

(53,613)

14,548

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(53,615)

14,546

Shareholders' (deficit)/funds

 

(53,613)

14,548

 

Chiselbuild Ltd

(Registration number: 11406657)
Abridged Balance Sheet as at 30 June 2024

For the financial year ending 30 June 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 year in question in accordance with section 476; and

The director acknowledges her 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 28 March 2025
 

.........................................

Mrs A C L Boucher

Director

 

Chiselbuild Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

1

General information

The company is limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

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 abridged financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis. The director has assessed the company's ability to continue as a going concern, which involves evaluating its financial position, cash flows, and liquidity. Based on this assessment, the financial statements have been prepared under the assumption that the company will continue in operational existence for the foreseeable future.

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.

Tax

The tax expense for the period comprises 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.

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.

 

Chiselbuild Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

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

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Chiselbuild Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Chiselbuild Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

34,574

25,325

59,899

At 30 June 2024

34,574

25,325

59,899

Depreciation

At 1 July 2023

26,039

13,002

39,041

Charge for the year

2,134

3,081

5,215

At 30 June 2024

28,173

16,083

44,256

Carrying amount

At 30 June 2024

6,401

9,242

15,643

At 30 June 2023

8,535

12,323

20,858

5

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mrs A C L Boucher

Director's loan

3,685

2,458

(26,000)

(19,857)

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

Mrs A C L Boucher

Director's loan

(229)

3,914

3,685

 

Chiselbuild Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

Summary of transactions with other related parties

The director, Mrs A C L Boucher, is key management personnel in White Hart (Crewkerne) Ltd and Sweetapple Enterprises Limited. All transactions were conducted under normal commercial terms.
 

Income and receivables from related parties

2024

Other related parties
£

Sale of goods

5,660

2023

Other related parties
£

Sale of goods

175

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

(329)

(329)

Advanced

1,000

1,000

At end of period

671

671

Terms of loans to related parties

The company advanced a loan to White Hart (Crewkerne) Ltd during the year. Interest is not being charged on this loan.

Loans from related parties

2024

Other related parties
£

Total
£

Advanced

17,300

17,300

At end of period

17,300

17,300

Terms of loans from related parties

The company received loans from Sweetapple Enterprises Limited during the year. Interest is not being charged on this loan.

 

Chiselbuild Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2