Company registration number 00582888 (England and Wales)
ILLSLEY (CHIEVELEY) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
ILLSLEY (CHIEVELEY) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
ILLSLEY (CHIEVELEY) LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr. D R Illsley
Secretary
Mrs. J Illsley
Company number
00582888
Registered office
Down Farm
Chieveley
Newbury
Berkshire
United Kingdom
RG20 8RT
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
ILLSLEY (CHIEVELEY) LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
838,426
842,747
Investments
4
31,338
32,760
869,764
875,507
Current assets
Stocks
192,114
162,008
Debtors
5
43,245
49,438
Cash at bank and in hand
288,482
149,374
523,841
360,820
Creditors: amounts falling due within one year
6
(282,145)
(262,650)
Net current assets
241,696
98,170
Total assets less current liabilities
1,111,460
973,677
Provisions for liabilities
(35,894)
(35,190)
Net assets
1,075,566
938,487
Capital and reserves
Called up share capital
800
800
Profit and loss reserves
1,074,766
937,687
Total equity
1,075,566
938,487
ILLSLEY (CHIEVELEY) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 26 June 2025
Mr. D R Illsley
Director
Company Registration No. 00582888
The notes on pages 4 to 7 form part of these financial statements
ILLSLEY (CHIEVELEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information
Illsley (Chieveley) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Down Farm, Chieveley, Newbury, Berkshire, United Kingdom, RG20 8RT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Income derived from the European Basic Payment Scheme subsidy is recognised on an accruals basis.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold property
0% and 2% straight line
Leasehold improvements
2% straight line
Plant and machinery
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stock is valued at the lower of cost and net realisable value.
ILLSLEY (CHIEVELEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
ILLSLEY (CHIEVELEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
3
Tangible fixed assets
Freehold property
Leasehold improvements
Plant and machinery
Total
£
£
£
£
Cost
At 1 October 2023
844,313
79,656
289,880
1,213,849
Additions
14,250
14,250
Disposals
(8,580)
(8,580)
At 30 September 2024
844,313
79,656
295,550
1,219,519
Depreciation and impairment
At 1 October 2023
112,004
25,039
234,059
371,102
Depreciation charged in the year
7,697
1,593
9,041
18,331
Eliminated in respect of disposals
(8,340)
(8,340)
At 30 September 2024
119,701
26,632
234,760
381,093
Carrying amount
At 30 September 2024
724,612
53,024
60,790
838,426
At 30 September 2023
668,133
64,176
55,821
842,747
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
31,338
32,760
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2023
32,760
Valuation changes
(1,422)
At 30 September 2024
31,338
Carrying amount
At 30 September 2024
31,338
At 30 September 2023
32,760
ILLSLEY (CHIEVELEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,309
15,923
Other debtors
4,296
3,654
Prepayments and accrued income
32,640
29,861
43,245
49,438
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,731
28,178
Other taxation and social security
46,392
10,091
Other creditors
227,522
220,881
Accruals and deferred income
3,500
3,500
282,145
262,650