Company Registration No. 03926682 (England and Wales)
Chedington Compost Limited
Unaudited accounts
for the year ended 30 September 2024
Chedington Compost Limited
Unaudited accounts
Contents
Chedington Compost Limited
Company Information
for the year ended 30 September 2024
Directors
Alice Edmonds
Scott Johnson
Company Number
03926682 (England and Wales)
Registered Office
North Buckham Farm
Beaminster
Dorset
DT8 3SH
England
Accountants
Wessex Commercial Solutions Limited
Yeovil Innovation Centre
Barracks Close
Yeovil
BA22 8RN
Chedington Compost Limited
Statement of financial position
as at 30 September 2024
Tangible assets
72,274
104,245
Cash at bank and in hand
7,299
25,782
Creditors: amounts falling due within one year
(38,883)
(4,543)
Net current (liabilities)/assets
(16,578)
39,860
Total assets less current liabilities
55,696
144,105
Creditors: amounts falling due after more than one year
(121,513)
(217,790)
Net liabilities
(65,817)
(73,685)
Called up share capital
2
2
Profit and loss account
(65,819)
(73,687)
Shareholders' funds
(65,817)
(73,685)
For the year ending 30 September 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 30 April 2025 and were signed on its behalf by
Alice Edmonds
Director
Company Registration No. 03926682
Chedington Compost Limited
Notes to the Accounts
for the year ended 30 September 2024
Chedington Compost Limited is a private company, limited by shares, registered in England and Wales, registration number 03926682. The registered office is North Buckham Farm, Beaminster, Dorset, DT8 3SH, 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.
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.
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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
The financial statements have been prepared on a going concern basis. Historically, the company has incurred recurring losses, which raised material uncertainties regarding its ability to continue as a going concern. However, during the current financial year, the company has returned to profitability, achieving a net profit of £12385 compared to a net loss of £35131 in the previous year.
The directors have reviewed the company’s forecasts and projections, taking into account current trading performance, available financing facilities, and expected future cash flows. Based on this review, the directors have a reasonable expectation that the company will continue to meet its obligations as they fall due for the foreseeable future. Accordingly, they consider it appropriate to prepare the financial statements on a going concern basis.
Chedington Compost Limited
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
At 30 September 2024
141,756
Charge for the year
18,068
At 30 September 2024
69,482
At 30 September 2024
72,274
At 30 September 2023
104,245
Amounts falling due within one year
Accrued income and prepayments
3,102
2,671
6
Creditors: amounts falling due within one year
2024
2023
7
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
-
217,790
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).