Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312023-04-01falseRetail sale of medical and orthopaedic goods.8651falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11511502 2023-04-01 2024-03-31 11511502 2022-04-01 2023-03-31 11511502 2024-03-31 11511502 2023-03-31 11511502 c:Director2 2023-04-01 2024-03-31 11511502 d:Buildings 2023-04-01 2024-03-31 11511502 d:Buildings 2024-03-31 11511502 d:Buildings 2023-03-31 11511502 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11511502 d:PlantMachinery 2023-04-01 2024-03-31 11511502 d:PlantMachinery 2024-03-31 11511502 d:PlantMachinery 2023-03-31 11511502 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11511502 d:FurnitureFittings 2023-04-01 2024-03-31 11511502 d:FurnitureFittings 2024-03-31 11511502 d:FurnitureFittings 2023-03-31 11511502 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11511502 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11511502 d:CurrentFinancialInstruments 2024-03-31 11511502 d:CurrentFinancialInstruments 2023-03-31 11511502 d:Non-currentFinancialInstruments 2024-03-31 11511502 d:Non-currentFinancialInstruments 2023-03-31 11511502 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11511502 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11511502 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11511502 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11511502 d:ShareCapital 2024-03-31 11511502 d:ShareCapital 2023-03-31 11511502 d:RetainedEarningsAccumulatedLosses 2024-03-31 11511502 d:RetainedEarningsAccumulatedLosses 2023-03-31 11511502 c:FRS102 2023-04-01 2024-03-31 11511502 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11511502 c:FullAccounts 2023-04-01 2024-03-31 11511502 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11511502 2 2023-04-01 2024-03-31 11511502 6 2023-04-01 2024-03-31 11511502 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11511502









CHANECO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CHANECO LIMITED
REGISTERED NUMBER: 11511502

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,683,750
2,223,946

Investments
 5 
1,000
-

  
2,684,750
2,223,946

Current assets
  

Stocks
  
1,753,731
1,236,800

Debtors: amounts falling due within one year
 6 
1,107,793
679,477

Cash at bank and in hand
 7 
36,257
50,426

  
2,897,781
1,966,703

Creditors: amounts falling due within one year
 8 
(3,756,766)
(2,665,195)

Net current liabilities
  
 
 
(858,985)
 
 
(698,492)

Total assets less current liabilities
  
1,825,765
1,525,454

Creditors: amounts falling due after more than one year
 9 
(257,666)
(385,071)

Provisions for liabilities
  

Deferred tax
  
(8,228)
-

  
 
 
(8,228)
 
 
-

Net assets
  
1,559,871
1,140,383


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,559,771
1,140,283

  
1,559,871
1,140,383


Page 1

 
CHANECO LIMITED
REGISTERED NUMBER: 11511502
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




H L Hanley-McTaggart
Director

Date: 27 June 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CHANECO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Chaneco Limited is a company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 4 Kilvey, Brackmills, Northamption, Northamptonshire, NN4 7BQ. 
The principal activity of the company is the sale of medical and orthopaedic goods.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CHANECO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CHANECO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Plant and machinery
-
10% reducing balance
Fixtures and fittings
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
CHANECO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 86 (2023 - 51).

Page 6

 
CHANECO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2023
1,822,653
600,836
135,843
2,559,332


Additions
-
176,575
475
177,050


Transfers intra group
-
1,004,568
-
1,004,568



At 31 March 2024

1,822,653
1,781,979
136,318
3,740,950



Depreciation


At 1 April 2023
109,997
183,796
41,593
335,386


Charge for the year on owned assets
-
84,762
9,472
94,234


Transfers intra group
-
627,580
-
627,580



At 31 March 2024

109,997
896,138
51,065
1,057,200



Net book value



At 31 March 2024
1,712,656
885,841
85,253
2,683,750



At 31 March 2023
1,712,656
417,040
94,250
2,223,946


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
1,000



At 31 March 2024
1,000





 

Page 7

 
CHANECO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
995,618
638,279

Other debtors
1,158
11,614

Prepayments and accrued income
111,017
29,584

1,107,793
679,477



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
36,257
50,426

36,257
50,426



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
198,131
158,391

Trade creditors
800,680
545,424

Corporation tax
93,966
29,360

Other taxation and social security
320,477
180,094

Other creditors
2,295,025
1,742,576

Accruals and deferred income
48,487
9,350

3,756,766
2,665,195



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
257,666
385,071

257,666
385,071


Page 8

 
CHANECO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £38,848 (2023: £25,386). Contributions totalling £13,429 (2023: £5,242) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9