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REGISTERED NUMBER: 12733103 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Chief Engineering Limited

Chief Engineering Limited (Registered number: 12733103)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chief Engineering Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: M Cure





REGISTERED OFFICE: 6 Gables Close
Farnborough
Hants
GU14 0DY





REGISTERED NUMBER: 12733103 (England and Wales)





ACCOUNTANTS: Fortus Limited
3 Park Square East
Leeds
LS1 2NE

Chief Engineering Limited (Registered number: 12733103)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 36,526 46,090

CURRENT ASSETS
Amounts recoverable on contracts 5,779 15,193
Debtors 5 - 6,862
Cash at bank 41,935 1,891
47,714 23,946
CREDITORS
Amounts falling due within one year 6 13,212 5,447
NET CURRENT ASSETS 34,502 18,499
TOTAL ASSETS LESS CURRENT LIABILITIES 71,028 64,589

PROVISIONS FOR LIABILITIES 7 6,940 8,757
NET ASSETS 64,088 55,832

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 63,988 55,732
SHAREHOLDERS' FUNDS 64,088 55,832

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Chief Engineering Limited (Registered number: 12733103)

Balance Sheet - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





M Cure - Director


Chief Engineering Limited (Registered number: 12733103)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Chief Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Chief Engineering Limited (Registered number: 12733103)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Turnover and revenue recognition
Turnover represents revenue recognised in the accounts. Revenue comprises the fair value of the consideration received or receivable, net of value added tax.

Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is measured by surveys of work performed to date. Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 45,606 2,216 47,822
DEPRECIATION
At 1 August 2023 760 972 1,732
Charge for year 9,121 443 9,564
At 31 July 2024 9,881 1,415 11,296
NET BOOK VALUE
At 31 July 2024 35,725 801 36,526
At 31 July 2023 44,846 1,244 46,090

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT - 6,862

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 8,856 3,058
VAT 3,000 -
Directors' current accounts 156 189
Accrued expenses 1,200 2,200
13,212 5,447

Chief Engineering Limited (Registered number: 12733103)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,940 8,757

Deferred
tax
£   
Balance at 1 August 2023 8,757
Credit to Income Statement during year (1,817 )
Balance at 31 July 2024 6,940

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 August 2023 55,732
Profit for the year 30,006
Dividends (21,750 )
At 31 July 2024 63,988

10. RELATED PARTY DISCLOSURES

During the year, dividends totalling £21,750 (2023: £41,000) were paid to the company director.

11. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its director.