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Registered number: 05974072
Chant Building & Development Limited
Financial Statements
For The Year Ended 31 December 2024
One Plus One Ltd
34/36 Fore Street
Bovey Tracey
Devon
TQ13 9AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05974072
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 162,500 169,433
162,500 169,433
CURRENT ASSETS
Debtors 5 1,773 74,380
Cash at bank and in hand 239,219 172,315
240,992 246,695
Creditors: Amounts Falling Due Within One Year 6 (32,259 ) (31,678 )
NET CURRENT ASSETS (LIABILITIES) 208,733 215,017
TOTAL ASSETS LESS CURRENT LIABILITIES 371,233 384,450
Creditors: Amounts Falling Due After More Than One Year 7 (3,800 ) (2,600 )
NET ASSETS 367,433 381,850
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 367,431 381,848
SHAREHOLDERS' FUNDS 367,433 381,850
Page 1
Page 2
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Julie Chant
Director
2 September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Chant Building & Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05974072 . The registered office is 62 Kings Castle Road, Wells, Somerset, BA5 3LT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Leasehold Nil
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20%B Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 121,247 24,130 54,992 10,500
Additions - 939 - -
As at 31 December 2024 121,247 25,069 54,992 10,500
Depreciation
As at 1 January 2024 - 23,098 14,125 4,988
Provided during the period - 4,502 2,134 1,102
As at 31 December 2024 - 27,600 16,259 6,090
Net Book Value
As at 31 December 2024 121,247 (2,531 ) 38,733 4,410
As at 1 January 2024 121,247 1,032 40,867 5,512
Computer Equipment Total
£ £
Cost
As at 1 January 2024 1,445 212,314
Additions - 939
As at 31 December 2024 1,445 213,253
Depreciation
As at 1 January 2024 670 42,881
Provided during the period 134 7,872
As at 31 December 2024 804 50,753
Net Book Value
As at 31 December 2024 641 162,500
As at 1 January 2024 775 169,433
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 35 74,380
Other debtors 1,738 -
1,773 74,380
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,269 2,803
Bank loans and overdrafts 747 686
Other creditors 1,512 1,411
Taxation and social security 25,731 26,778
32,259 31,678
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 3,800 2,600
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Kenneth Chant 1,300 600 - - 1,900
Miss Julie Chant 1,300 600 - - 1,900
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Kenneth Chant 21,050 -
Mrs Julie Chant 21,050 -
Page 5