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Registration number: 04633429

Chinneck Shaw Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Chinneck Shaw Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 13

 

Chinneck Shaw Limited

Company Information

Directors

N Shaw

S Shaw

Company secretary

S Shaw

Registered office

11 Milton Road
Copnor Bridge
Portsmouth
Hampshire
PO3 6AN

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Chinneck Shaw Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chinneck Shaw Limited for the year ended 30 September 2024 as set out on pages 3 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Chinneck Shaw Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Chinneck Shaw Limited and state those matters that we have agreed to state to the Board of Directors of Chinneck Shaw Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chinneck Shaw Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Chinneck Shaw Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Chinneck Shaw Limited. You consider that Chinneck Shaw Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Chinneck Shaw Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

8 April 2025

 

Chinneck Shaw Limited

(Registration number: 04633429)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

127,250

127,250

Tangible assets

5

48,765

54,252

 

176,015

181,502

Current assets

 

Stocks

7

-

4,850

Debtors

8

595,621

596,159

Cash at bank and in hand

 

408,708

355,280

 

1,004,329

956,289

Creditors: Amounts falling due within one year

9

(154,521)

(154,133)

Net current assets

 

849,808

802,156

Total assets less current liabilities

 

1,025,823

983,658

Provisions for liabilities

(387)

(675)

Net assets

 

1,025,436

982,983

Capital and reserves

 

Called up share capital

10

1,540

1,540

Retained earnings

1,023,896

981,443

Shareholders' funds

 

1,025,436

982,983

 

Chinneck Shaw Limited

(Registration number: 04633429)
Balance Sheet as at 30 September 2024

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 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 7 April 2025 and signed on its behalf by:
 

.........................................
N Shaw
Director

 

Chinneck Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
11 Milton Road
Copnor Bridge
Portsmouth
Hampshire
PO3 6AN

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.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

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.

Government grants

Government grants relating to revenue expenditure are recognised in income over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises current and deferred 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.

 

Chinneck Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

33%- written down value

Fixtures and fittings

15%- written down value

Motor vehicles

25%- written down value

Short leasehold

5%- straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Nil amortisation

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.

 

Chinneck Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Chinneck Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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 directors) during the year, was 13 (2023 - 10).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

127,250

127,250

At 30 September 2024

127,250

127,250

Amortisation

Carrying amount

At 30 September 2024

127,250

127,250

At 30 September 2023

127,250

127,250

 

Chinneck Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

65,100

75,623

13,525

154,248

Additions

-

118

-

118

At 30 September 2024

65,100

75,741

13,525

154,366

Depreciation

At 1 October 2023

19,531

67,702

12,763

99,996

Charge for the year

3,255

2,160

190

5,605

At 30 September 2024

22,786

69,862

12,953

105,601

Carrying amount

At 30 September 2024

42,314

5,879

572

48,765

At 30 September 2023

45,569

7,921

762

54,252

Included within the net book value of land and buildings above is £42,314 (2023 - £45,570) in respect of short leasehold land and buildings.
 

 

Chinneck Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Other financial assets (current and non-current)

Non-current financial assets

Cost or valuation

Impairment

Carrying amount

At 30 September 2024

7

Stocks

2024
£

2023
£

Other inventories

-

4,850

8

Debtors

Current

2024
£

2023
£

Trade debtors

13,772

16,812

Prepayments

2,750

2,750

Other debtors

579,099

576,597

 

595,621

596,159

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

-

2,125

Trade creditors

 

21,287

16,901

Taxation and social security

 

83,961

84,979

Accruals and deferred income

 

1,000

1,000

Other creditors

 

48,273

49,128

 

154,521

154,133

 

Chinneck Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

100

100

100

100

Ordinary C shares of £1 each

100

100

100

100

Ordinary D shares of £1 each

100

100

100

100

Ordinary E shares of £1 each

100

100

100

100

Ordinary F shares of £1 each

10

10

10

10

Ordinary G shares of £1 each

10

10

10

10

Ordinary H shares of £1 each

10

10

10

10

Ordinary I shares of £1 each

10

10

10

10

1,540

1,540

1,540

1,540

 

Chinneck Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

11

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

2,125

12

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

At 30 September 2024
£

N Shaw

Undated, unsecured and interest free directors loan account which is repayable on demand.

(34,704)

(68)

(34,773)

2023

At 1 October 2022
£

Advances to director
£

At 30 September 2023
£

N Shaw

Undated, unsecured and interest free directors loan account which is repayable on demand.

(35,972)

1,268

(34,704)

 

Chinneck Shaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Summary of transactions with other related parties


Chinneck Shaw partnership.

The directors of Chinneck Shaw Limited are also partners in Chinneck Shaw partnership.

The company paid management fees of £9,500 (2023 - £11,730) to Chinneck Shaw partnership. At the year end the amount due from the partnership was £84,839 (2023 - £82,339).

 Jenas Property Limited

The directors of Chinneck Shaw Limited are also directors in Jenas Property Limited.


At the end of the year the amount due from Jenas Property Limited was £396,042 (2023 - £396,042).