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REGISTERED NUMBER: 04005413 (England and Wales)















Unaudited Financial Statements

for the Period 1 July 2023 to 31 December 2024

for

Chapel & Swan Ltd

Chapel & Swan Ltd (Registered number: 04005413)

Contents of the Financial Statements
for the Period 1 July 2023 to 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chapel & Swan Ltd

Company Information
for the Period 1 July 2023 to 31 December 2024







DIRECTOR: Mr C M Swales





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





REGISTERED NUMBER: 04005413 (England and Wales)

Chapel & Swan Ltd (Registered number: 04005413)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 187,870 215,535

CURRENT ASSETS
Stocks 143,513 111,691
Debtors 6 441,030 412,677
Cash at bank and in hand 172,800 220,876
757,343 745,244
CREDITORS
Amounts falling due within one year 7 638,534 593,201
NET CURRENT ASSETS 118,809 152,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,679

367,578

CREDITORS
Amounts falling due after more than one
year

8

(43,062

)

(111,897

)

PROVISIONS FOR LIABILITIES (35,695 ) (40,293 )
NET ASSETS 227,922 215,388

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 45,765 45,765
Retained earnings 182,057 169,523
227,922 215,388

Chapel & Swan Ltd (Registered number: 04005413)

Balance Sheet - continued
31 December 2024


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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

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 May 2025 and were signed by:





Mr C M Swales - Director


Chapel & Swan Ltd (Registered number: 04005413)

Notes to the Financial Statements
for the Period 1 July 2023 to 31 December 2024


1. STATUTORY INFORMATION

Chapel & Swan Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the period 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.


Chapel & Swan Ltd (Registered number: 04005413)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2024


3. ACCOUNTING POLICIES - continued
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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice discounting
The company undertakes sales invoice financing. The full amount of trade debtors is shown in the balance sheet, with amounts drawn down and due to the finance company shown in other creditors and amounts to be drawn down and due to the company shown within cash at bank.

Change of accounting period and comparability
The current financial reporting period s not fully comparable with the prior period as it was prepared for a period of 18 months, whereas the prior period was a period of 12 months.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2023 - 11 ) .

Chapel & Swan Ltd (Registered number: 04005413)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 449,988
Additions 92,866
Disposals (45,502 )
At 31 December 2024 497,352
DEPRECIATION
At 1 July 2023 234,453
Charge for period 120,424
Eliminated on disposal (45,395 )
At 31 December 2024 309,482
NET BOOK VALUE
At 31 December 2024 187,870
At 30 June 2023 215,535

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023
and 31 December 2024 167,132
DEPRECIATION
At 1 July 2023 36,366
Charge for period 62,674
At 31 December 2024 99,040
NET BOOK VALUE
At 31 December 2024 68,092
At 30 June 2023 130,766

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 424,966 367,603
Other debtors 16,064 45,074
441,030 412,677

Chapel & Swan Ltd (Registered number: 04005413)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,463 15,677
Hire purchase contracts (see note 9) 21,128 45,835
Trade creditors 242,950 242,284
Taxation and social security 37,982 7,027
Other creditors 319,011 282,378
638,534 593,201

Other creditors includes the factoring account balance of £300,026 (2023 - £281,172), pensions payable of £1,687 (2023 - £1,206), directors loan balance of £6,765 (2023 - £nil), accruals of £992 (2023 - £nil), and other creditors of £9,541 (2023 - £nil).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 23,419 50,049
Hire purchase contracts (see note 9) 19,643 61,848
43,062 111,897

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 21,128 45,835
Between one and five years 19,643 61,848
40,771 107,683

Non-cancellable operating leases
2024 2023
£    £   
Within one year 20,400 -
Between one and five years 170,000 -
190,400 -

Chapel & Swan Ltd (Registered number: 04005413)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2024


10. SECURED DEBTS

On 9 January 2012, Hitachi Capital (UK) PLC secured a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

On 1 April 2021, Advantedge Commercial Finance Limited secured a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.