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Company Registration No. 15112308 (England and Wales)
Chestnut Restoration Ltd Unaudited accounts for the year ended 30 September 2024
Chestnut Restoration Ltd Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
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Chestnut Restoration Ltd Company Information for the year ended 30 September 2024
Directors
Dane Barry James Smart Lee Smart
Company Number
15112308 (England and Wales)
Registered Office
1b Buckhurst Road Bexhill-on-Sea East Sussex TN40 1QF United Kingdom
Accountants
TRP Accountancy Ltd Bumpkin Shaw Yard Rock Lane Hastings East Sussex TN35 4NY
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Chestnut Restoration Ltd Accountants' report
Accountants' report to the board of directors of Chestnut Restoration Ltd (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 September 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 30 September 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
TRP Accountancy Ltd Bumpkin Shaw Yard Rock Lane Hastings East Sussex TN35 4NY 2 September 2025
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Chestnut Restoration Ltd Statement of financial position as at 30 September 2024
2024
Notes
£
Fixed assets
Tangible assets
4
9,041
Current assets
Debtors
5
28,072
Cash at bank and in hand
5,051
33,123
Creditors: amounts falling due within one year
6
(3,734)
Net current assets
29,389
Total assets less current liabilities
38,430
Creditors: amounts falling due after more than one year
7
(29,777)
Net assets
8,653
Capital and reserves
Called up share capital
3
Profit and loss account
8,650
Shareholders' funds
8,653
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by
Dane Barry Director Company Registration No. 15112308
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Chestnut Restoration Ltd Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
Chestnut Restoration Ltd is a private company, limited by shares, registered in England and Wales, registration number 15112308. The registered office is 1b Buckhurst Road, Bexhill-on-Sea, East Sussex, TN40 1QF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 September 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2023. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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Chestnut Restoration Ltd Notes to the Accounts for the year ended 30 September 2024
Shareholding
During the financial year, the company restructured its shareholding and issued additional A, B, and C ordinary shares to its shareholders to better reflect ownership and voting structures. Pursuant to Sections 617 and 636 of the Companies Act 2006, it is resolved that the company's share capital structure be revised as follows: A Shares: Held by directors actively managing the company, with full voting rights and the ability to receive variable dividends. B Shares: Held by investors, with full voting rights but dividends payable at the discretion of the board. C Shares: Held by investors, with full voting rights but dividends payable at the discretion of the board. The rights attached to each class of shares are defined in the company’s Articles of Association.
Deferred taxation
The company has not recognised deferred tax assets or liabilities in accordance with the exemption permitted by FRS 102 Section 1A.29(c). The directors consider that the inclusion of such amounts would not materially affect the understanding of the financial statements.
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 October 2023
-
Additions
12,055
At 30 September 2024
12,055
Depreciation
Charge for the year
3,014
At 30 September 2024
3,014
Net book value
At 30 September 2024
9,041
5
Debtors
2024
£
Amounts falling due within one year
VAT
38
Trade debtors
2,670
Accrued income and prepayments
500
Other debtors
24,864
28,072
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Chestnut Restoration Ltd Notes to the Accounts for the year ended 30 September 2024
6
Creditors: amounts falling due within one year
2024
£
Trade creditors
466
Taxes and social security
2,253
Accruals
1,015
3,734
7
Creditors: amounts falling due after more than one year
2024
£
Amounts owed to group undertakings and other participating interests
29,777
8
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Dane Barry
0% Loan
-
34,354
25,532
8,822
-
34,354
25,532
8,822
The advanced payments to Dane Barry were repaid in full within 9 months of the accounting period end.
9
Transactions with related parties
Related Party Transaction – During the financial year, the company received an interest-free loan from Acorn Building & Decorating Ltd, a company in which both James Smart and Lee Smart, directors of Chesnut Restoration Ltd, have a significant interest. As of the year-end, the outstanding balance of the loan was £29,777.
10
Average number of employees
During the year the average number of employees was 1.
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