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Registration number: 11032533

Cheviot Installations Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Cheviot Installations Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Cheviot Installations Limited

Company Information

Director

E J Wilson

Registered office

Suite 3, 1 - 3 Warren Court
Park Road
Crowborough
East Sussex
TN6 2QX

Accountants

Redshield Business Solutions Limited
Chartered AccountantsSuite 3, 1 - 3 Warren Court
Park Road
Crowborough
East Sussex
TN6 2QX

 

Cheviot Installations Limited

(Registration number: 11032533)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

23,733

21,793

Current assets

 

Debtors

5

494,931

312,484

Cash at bank and in hand

 

46,755

79,874

 

541,686

392,358

Creditors: Amounts falling due within one year

6

(135,347)

(128,734)

Net current assets

 

406,339

263,624

Total assets less current liabilities

 

430,072

285,417

Creditors: Amounts falling due after more than one year

6

(7,034)

(17,366)

Net assets

 

423,038

268,051

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

422,938

267,951

Shareholders' funds

 

423,038

268,051

 

Cheviot Installations Limited

(Registration number: 11032533)
Balance Sheet as at 31 October 2024 (continued)

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 June 2025
 

E J Wilson
Director

   
     
 

Cheviot Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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:
Suite 3, 1 - 3 Warren Court
Park Road
Crowborough
East Sussex
TN6 2QX

These financial statements were authorised for issue by the director on 10 June 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Cheviot Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

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

Land and buildings

10 year straight line basis

Furniture, fittings and equipment

25% reducing balance basis

Other tangible assets

25% reducing balance basis

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Cheviot Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Cheviot Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

5,026

5,932

32,689

43,647

Additions

-

3,241

6,663

9,904

Disposals

-

(916)

-

(916)

At 31 October 2024

5,026

8,257

39,352

52,635

Depreciation

At 1 November 2023

2,012

2,552

17,290

21,854

Charge for the year

503

1,559

5,516

7,578

Eliminated on disposal

-

(530)

-

(530)

At 31 October 2024

2,515

3,581

22,806

28,902

Carrying amount

At 31 October 2024

2,511

4,676

16,546

23,733

At 31 October 2023

3,014

3,380

15,399

21,793

Included within the net book value of land and buildings above is £2,511 (2023 - £3,014) in respect of freehold land and buildings.
 

 

Cheviot Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Trade debtors

71,213

35,248

Other debtors

423,718

277,236

 

494,931

312,484

 

Cheviot Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

11,014

12,940

Trade creditors

 

16,122

24,329

Taxation and social security

 

78,459

58,634

Accruals and deferred income

 

14,005

8,714

Other creditors

 

15,747

24,117

 

135,347

128,734

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

7,034

17,366

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ordinary share of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,034

17,366

 

Cheviot Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

8

Loans and borrowings (continued)

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,332

10,077

Other borrowings

682

2,863

11,014

12,940

Bank borrowings

Bank loan is denominated in Sterling with a nominal interest rate of 2.5%, and the final instalment is due on 23 June 2026. The carrying amount at year end is £17,366 (2023 - £27,443).

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £710.00 (2023 - £1,270.00) per each ordinary share

71,000

127,000

 

 

10

Related party transactions

During the year the company made advances to a director at the applicable official rate of interest. These amounts were repayable on demand.

 

Cheviot Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

10

Related party transactions (continued)

Transactions with the director

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

E J Wilson

Directors loan

-

10,515

(10,515)

-

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

E J Wilson

Directors loan

-

18,627

(18,627)

-

 

Cheviot Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

10

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,533

Contributions paid to money purchase schemes

60,000

60,000

72,570

72,533