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Company No: 14610745 (England and Wales)

CHAMPLON LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

CHAMPLON LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

CHAMPLON LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
CHAMPLON LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Current assets
Stocks 4 49,294,770 49,294,770
Debtors 5 1,020 39,192
Cash at bank and in hand 6 12,674 544,330
49,308,464 49,878,292
Creditors: amounts falling due within one year 7 ( 11,335,378) ( 11,228,164)
Net current assets 37,973,086 38,650,128
Total assets less current liabilities 37,973,086 38,650,128
Creditors: amounts falling due after more than one year 8 ( 37,977,201) ( 38,639,996)
Net (liabilities)/assets ( 4,115) 10,132
Capital and reserves
Called-up share capital 9 1,000 1,000
Profit and loss account ( 5,115 ) 9,132
Total shareholder's (deficit)/funds ( 4,115) 10,132

For the financial 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.

Directors' responsibilities:

The financial statements of Champlon Limited (registered number: 14610745) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R Borchard
Director
L Brenden
Director

23 May 2025

CHAMPLON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
CHAMPLON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Champlon Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 5th Floor Bevis Marks House, 24 Bevis Marks, London, EC3A 7JB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 4 4

4. Stocks

2024 2023
£ £
Stocks 49,294,770 49,294,770

5. Debtors

2024 2023
£ £
Other debtors 1,020 39,192

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 12,674 544,330

7. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to group undertakings 6,267,596 6,157,596
Taxation and social security 0 2,786
Other creditors 5,067,782 5,067,782
11,335,378 11,228,164

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 37,977,201 38,639,996

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

10. Related party transactions

Transactions with the members of the group and with other related parties concluded under normal market conditions have not been disclosed as per section 1AC.35 of FRS 102.

11. Ultimate controlling party

The company is controlled by Fairplay Towage & Shipping Company Limited.