CHS and SS Limited
Registered number: 09866671
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 95,908 100,305
Current assets
Stocks 967,167 893,685
Debtors 4 127,936 101,257
Cash at bank and in hand 83,132 187,560
1,178,235 1,182,502
Creditors: amounts falling due within one year 5 (281,949) (259,501)
Net current assets 896,286 923,001
Total assets less current liabilities 992,194 1,023,306
Creditors: amounts falling due after more than one year 6 (432,405) (442,189)
Provisions for liabilities (14,705) (21,064)
Net assets 545,084 560,053
Capital and reserves
Called up share capital 160,000 160,000
Profit and loss account 385,084 400,053
Shareholder's funds 545,084 560,053
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A. N. Pointer
Director
Approved by the board on 6 May 2025
CHS and SS Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, vehicles and website over 5 years straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 36 35
3 Tangible fixed assets
Shop website and fittings, fixtures and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2024 230,472 37,898 268,370
Additions 25,884 - 25,884
At 31 March 2025 256,356 37,898 294,254
Depreciation
At 1 April 2024 152,275 15,790 168,065
Charge for the year 22,701 7,580 30,281
At 31 March 2025 174,976 23,370 198,346
Net book value
At 31 March 2025 81,380 14,528 95,908
At 31 March 2024 78,197 22,108 100,305
4 Debtors 2025 2024
£ £
Trade debtors - 2,201
Other debtors 127,936 99,056
127,936 101,257
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 10,108 10,108
Trade creditors 246,998 160,534
Corporation tax - 16,459
Other taxes and social security costs 6,149 37,554
Other creditors 18,694 34,846
281,949 259,501
Included in other creditors falling due within one year is £0 (2023 - £16,073) relating to a loan note owed to Christopher Hull Sport Limited, a company under the control of a close family member of a past director. The loan note was repayable over 8 years and interest was charged at a rate of 2.5% above the Bank of England base rate.
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 1,559 11,343
Other creditors 430,846 430,846
432,405 442,189
7 Loans 2025 2024
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 430,846 430,846
Other creditors falling due after more than one year is £430,846 (2024 - £430,846) relating to a loan note owed to Simply Sports Limited, a company under the common control of its director. There are no set repayment terms hence the balance has been included in amounts falling due after 5 years. Interest accruing on this loan has been waived.
8 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 341,500 480,000
9 Related party transactions
Directors' transactions
At the balance sheet date, the company owed £430,846 (2024 - £430,846) to Simply Sports Limited, a company under the control of its director.
10 Other information
CHS and SS Limited is a private company limited by shares and incorporated in England. Its registered office is:
60 Station Road East
Oxted
Surrey
RH8 0PG
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