Company Registration No. 02931367 (England and Wales)
Chiltern Thrust Bore Ltd.
Unaudited accounts
for the year ended 31 July 2024
Chiltern Thrust Bore Ltd.
Unaudited accounts
Contents
Chiltern Thrust Bore Ltd.
Company Information
for the year ended 31 July 2024
Directors
L A Howe
A J Howe
Z Negahban
D R Croot
Company Number
02931367 (England and Wales)
Registered Office
Chiltern House
15 Stilebrook Road
Olney
Buckinghamshire
MK46 5EA
England
Accountants
Brambillow Accounting Ltd
Brookhouse
Cranoe Road
Welham
Leicestershire
LE16 7UH
Chiltern Thrust Bore Ltd.
Statement of financial position
as at 31 July 2024
Tangible assets
221,823
265,880
Cash at bank and in hand
100,201
144,290
Creditors: amounts falling due within one year
(274,459)
(211,954)
Net current assets
209,433
258,894
Total assets less current liabilities
431,256
524,774
Creditors: amounts falling due after more than one year
(66,251)
(98,975)
Provisions for liabilities
Deferred tax
(47,522)
(57,083)
Net assets
317,483
368,716
Called up share capital
100
100
Profit and loss account
317,383
368,616
Shareholders' funds
317,483
368,716
For the year ending 31 July 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by
Z Negahban
Director
Company Registration No. 02931367
Chiltern Thrust Bore Ltd.
Notes to the Accounts
for the year ended 31 July 2024
Chiltern Thrust Bore Ltd. is a private company, limited by shares, registered in England and Wales, registration number 02931367. The registered office is Chiltern House, 15 Stilebrook Road, Olney, Buckinghamshire, MK46 5EA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Chiltern Thrust Bore Ltd.
Notes to the Accounts
for the year ended 31 July 2024
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
1,541,927
266,468
18,467
1,826,862
Disposals
-
(23,542)
-
(23,542)
At 31 July 2024
1,541,927
242,926
22,863
1,807,716
At 1 August 2023
1,353,967
201,319
5,696
1,560,982
Charge for the year
27,307
16,012
4,038
47,357
On disposals
-
(22,446)
-
(22,446)
At 31 July 2024
1,381,274
194,885
9,734
1,585,893
At 31 July 2024
160,653
48,041
13,129
221,823
At 31 July 2023
187,960
65,149
12,771
265,880
Amounts falling due within one year
Trade debtors
290,239
226,732
Accrued income and prepayments
48,145
49,065
Other debtors
32,807
20,252
Chiltern Thrust Bore Ltd.
Notes to the Accounts
for the year ended 31 July 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
17,725
24,601
Obligations under finance leases and hire purchase contracts
22,916
22,356
Trade creditors
221,854
152,534
Taxes and social security
7,602
2,097
Other creditors
1,164
6,019
Loans from directors
1,398
4,347
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
3,819
27,297
8
Operating lease commitments
2024
2023
At 31 July 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
5,168
5,168
Later than one year and not later than five years
20,671
26,700
Later than five years
5,168
-
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Transactions with related parties
Included within creditors is an amount of £1,398 (2023: creditor balance of £4,347 and a debtor balance of £449) which is owed to the Directors by the Company. Interest is not payable on these amounts and there is no fixed date for repayment.
During the year, the Company made rental payments of £44,250 (2023: £48,000) on its operational premises. The premises are owned jointly by the Directors Mr and Mrs Howe.
The ultimate controlling party is Chiltern Thrust Bore Holdings Ltd a company registered in England and Wales with company number: 12503144 and registered office address: Chiltern House, 15 Stilebrook Road, Olney, Buckinghamshire, England, MK46 5EA.
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Average number of employees
During the year the average number of employees was 10 (2023: 10).