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Registration number: 03434805

Chelstow Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Chelstow Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Chelstow Limited

Company Information

Directors

Mrs Janet Jones

Mr David Jones

Mr Geraint Jones

Ms Nicola Jones

Company secretary

Mr David Jones

Registered office

42a Walnut Road
Torquay
Devon
TQ2 6HS

Accountants

Neil Wilson & Co Chartered Accountants Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Chelstow Limited

(Registration number: 03434805)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

334,646

334,857

Current assets

 

Cash at bank and in hand

 

5,547

4,261

Creditors: Amounts falling due within one year

5

(311,669)

(311,688)

Net current liabilities

 

(306,122)

(307,427)

Total assets less current liabilities

 

28,524

27,430

Provisions for liabilities

(62)

(62)

Net assets

 

28,462

27,368

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

28,362

27,268

Shareholders' funds

 

28,462

27,368

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 May 2025 and signed on its behalf by:
 

.........................................
Mr Geraint Jones
Director

 

Chelstow Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
42a Walnut Road
Torquay
Devon
TQ2 6HS

The principal place of business is:
Chelston Tower
Rawlyn Road
Torquay
Devon
TQ2 6PQ

These financial statements were authorised for issue by the Board on 12 May 2025.

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

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.

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.

 

Chelstow Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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

Fixtures and fittings

25% reducing balance

Land and buildings

Not depreciated

Plant and machinery

20% 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 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

 

Chelstow Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2024

333,670

3,901

1,602

339,173

At 31 March 2025

333,670

3,901

1,602

339,173

Depreciation

At 1 April 2024

-

3,287

1,029

4,316

Charge for the year

-

103

108

211

At 31 March 2025

-

3,390

1,137

4,527

Carrying amount

At 31 March 2025

333,670

511

465

334,646

At 31 March 2024

333,670

614

573

334,857

Included within the net book value of land and buildings above is £333,670 (2024 - £333,670) in respect of freehold land and buildings.
 

 

Chelstow Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

82,104

90,696

Taxation and social security

 

1,554

674

Accruals and deferred income

 

775

800

Other creditors

 

227,236

219,518

 

311,669

311,688

6

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary A Shares of £1 each

51

51

51

51

Ordinary B Shares of £1 each

49

49

49

49

100

100

100

100

7

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank borrowings

82,104

90,696

8

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £19.61 (2024 - £78.43) per each Ordinary A Shares

1,000

4,000

Interim dividend of £20.41 (2024 - £81.63) per each Ordinary B Shares

1,000

4,000

2,000

8,000

 

Chelstow Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Related party transactions

Transactions with directors

2025

At 1 April 2024
£

Repayments by director
£

At 31 March 2025
£

Mr David Jones

Director loan

(199,909)

(5,426)

(205,335)

Mr Geraint Jones

Loan from Director

(16,580)

(497)

(17,077)

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Mr David Jones

Director loan

(195,760)

(4,149)

(199,909)

Mr Geraint Jones

Loan from Director

(11,866)

(4,714)

(16,580)

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

19,200

19,200

Dividends paid to directors

2025
£

2024
£

Mr David Jones

Current period interim dividend paid

500

2,000

 

 

Mrs Janet Jones

Current period dividend paid

500

2,000

 

 

Mr Geraint Jones

Interim dividend

500

2,000