Registered number
02683779
Chris Hodgson Engineering Ltd
Report and Accounts
28 February 2025
Chris Hodgson Engineering Ltd
Registered number: 02683779
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 459,353 448,412
Current assets
Stocks 230,000 237,000
Debtors 4 974,678 1,160,699
1,204,678 1,397,699
Creditors: amounts falling due within one year 5 (1,167,263) (894,827)
Net current assets 37,415 502,872
Total assets less current liabilities 496,768 951,284
Creditors: amounts falling due after more than one year 6 (104,910) (153,039)
Net assets 391,858 798,245
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 390,858 797,245
Shareholders' funds 391,858 798,245
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C L P Hodgson
Director
Approved by the board on 15 April 2025
Chris Hodgson Engineering Ltd
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 25 years
Motor vehicles 25% straight line
Plant and machinery 15% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 40 40
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 March 2024 257,553 755,956 505,167 1,518,676
Additions - 5,500 74,823 80,323
Disposals - - (15,129) (15,129)
At 28 February 2025 257,553 761,456 564,861 1,583,870
Depreciation
At 1 March 2024 130,870 520,400 418,994 1,070,264
Charge for the year 8,152 35,981 24,432 68,565
On disposals - - (14,312) (14,312)
At 28 February 2025 139,022 556,381 429,114 1,124,517
Net book value
At 28 February 2025 118,531 205,075 135,747 459,353
At 29 February 2024 126,683 235,556 86,173 448,412
4 Debtors 2025 2024
£ £
Trade debtors 501,777 480,601
Amounts recoverable on contracts 182,000 625,000
Accrued income 45,542 -
Payments in advance 60,434 55,098
Corporation tax recoverable 64,925 -
Other debtors 120,000 -
974,678 1,160,699
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 452,402 125,009
Obligations under finance lease and hire purchase contracts 18,048 -
Trade creditors 508,870 498,029
Payments received on account 21,575 9,533
Corporation tax - 64,925
Other taxes and social security costs 125,947 123,481
Accrued charges 40,421 73,850
1,167,263 894,827
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 50,000 150,000
Obligations under finance lease and hire purchase contracts 51,137 -
Directors' loan accounts 3,773 3,039
104,910 153,039
7 Loans 2025 2024
£ £
Creditors include:
Secured bank loans 150,000 250,000
Unlimited debenture provided to lender.
8 Controlling party
The majority of the share capital is owned by CHE Holdings Ltd (company number 13225518). Mr C Hodgson owns all of the share capital in CHE Holdings Ltd and is the ultimate controlling party.
9 Other information
Chris Hodgson Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Seven Acres
Hollacombe
Chumleigh
Devon
EX18 7QH
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