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REGISTERED NUMBER: 12309565 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

CHIPPENDALE TIMBER PRODUCTS LIMITED

CHIPPENDALE TIMBER PRODUCTS LIMITED (REGISTERED NUMBER: 12309565)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHIPPENDALE TIMBER PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTOR: D Chippendale





REGISTERED OFFICE: 17 Moor Park Avenue
Preston
Lancashire
PR1 6AS





REGISTERED NUMBER: 12309565 (England and Wales)





ACCOUNTANTS: SBCA Chartered Accountants
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

CHIPPENDALE TIMBER PRODUCTS LIMITED (REGISTERED NUMBER: 12309565)

BALANCE SHEET
31ST DECEMBER 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 39,191 53,768
Investment property 5 - 109,723
39,191 163,491

CURRENT ASSETS
Stocks 6 27,500 27,300
Debtors 7 343,795 55,477
Cash at bank 25,109 245,641
396,404 328,418
CREDITORS
Amounts falling due within one year 8 (225,638 ) (217,597 )
NET CURRENT ASSETS 170,766 110,821
TOTAL ASSETS LESS CURRENT LIABILITIES 209,957 274,312

PROVISIONS FOR LIABILITIES 10 (5,876 ) (9,261 )
NET ASSETS 204,081 265,051

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair Value Reserve 12 - 15,000
Retained earnings 12 203,981 249,951
SHAREHOLDERS' FUNDS 204,081 265,051

CHIPPENDALE TIMBER PRODUCTS LIMITED (REGISTERED NUMBER: 12309565)

BALANCE SHEET - continued
31ST DECEMBER 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th May 2025 and were signed by:





D Chippendale - Director


CHIPPENDALE TIMBER PRODUCTS LIMITED (REGISTERED NUMBER: 12309565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Chippendale Timber Products 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.

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.

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 each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

CHIPPENDALE TIMBER PRODUCTS LIMITED (REGISTERED NUMBER: 12309565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


CHIPPENDALE TIMBER PRODUCTS LIMITED (REGISTERED NUMBER: 12309565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. 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 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.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2024 23,811 784 66,991 2,682 94,268
Additions - 92 - 569 661
Disposals (1,411 ) (318 ) - (589 ) (2,318 )
At 31st December 2024 22,400 558 66,991 2,662 92,611
DEPRECIATION
At 1st January 2024 7,917 167 31,468 948 40,500
Charge for year 3,699 106 8,880 749 13,434
Eliminated on disposal (304 ) (54 ) - (156 ) (514 )
At 31st December 2024 11,312 219 40,348 1,541 53,420
NET BOOK VALUE
At 31st December 2024 11,088 339 26,643 1,121 39,191
At 31st December 2023 15,894 617 35,523 1,734 53,768

CHIPPENDALE TIMBER PRODUCTS LIMITED (REGISTERED NUMBER: 12309565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2024 109,723
Disposals (109,723 )
At 31st December 2024 -
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 109,723

6. STOCKS
31.12.24 31.12.23
£    £   
Stocks 27,500 27,300

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 15,102 12,229
Other debtors 328,693 43,248
343,795 55,477

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 1,656 36,155
Amounts owed to group undertakings 150,872 147,990
Taxation and social security 67,702 27,451
Other creditors 5,408 6,001
225,638 217,597

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 9,988 40,000
Between one and five years - 36,667
9,988 76,667

CHIPPENDALE TIMBER PRODUCTS LIMITED (REGISTERED NUMBER: 12309565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


10. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 5,876 9,261

Deferred
tax
£   
Balance at 1st January 2024 9,261
Provided during year (3,385 )
Balance at 31st December 2024 5,876

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Fair
Retained Value
earnings Reserve Totals
£    £    £   

At 1st January 2024 249,951 15,000 264,951
Deficit for the year (27,392 ) (27,392 )
Dividends (33,578 ) (33,578 )
Transfer of Realised Reserves 20,000 (20,000 ) -
Deferred Tax Provision (5,000 ) 5,000 -
At 31st December 2024 203,981 - 203,981

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, advances of £328,888 and credits of £92,420 were made. The maximum overdrawn balance during the year was £290,426. At the balance sheet date the amount owed from the director was £247,313 (2023; owed to £10,845). Interest has been charged and the official rate on overdrawn amounts. Amounts are repayable on demand.

14. ULTIMATE CONTROLLING PARTY

The controlling party is Chippendale Property Holdings Limited.

The ultimate controlling party is D Chippendale.