REGISTERED NUMBER: 01399713 (England and Wales)

CHASE HARDWARE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Abridged Balance Sheet

1

to

3

Notes to the Financial Statements

4

to

7

FIXED ASSETS

Intangible assets

4

23,906

-

Tangible assets

5

236,135

140,101

260,041

140,101

CURRENT ASSETS

Stocks

1,694,767

1,868,268

Debtors

339,861

306,887

Cash at bank

1,912

-

2,036,540

2,175,155

CREDITORS

Amounts falling due within one year

(706,081

)

(706,884

)

NET CURRENT ASSETS

1,330,459

1,468,271

TOTAL ASSETS LESS CURRENT LIABILITIES

1,590,500

1,608,372

CREDITORS

Amounts falling due after more than one year

(58,691

)

-

PROVISIONS FOR LIABILITIES

(14,097

)

(7,791

)

NET ASSETS

1,517,712

1,600,581

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

31,960

31,960

Capital redemption reserve

40

40

Retained earnings

1,485,612

1,568,481

1,517,712

1,600,581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

J B Thomas - Director

1.	STATUTORY INFORMATION

Chase Hardware Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01399713

Registered office:

Unit 18 Bramshall Industrial Estate

Stone Road

Bramshall

Uttoxeter

Staffordshire

ST14 8TD

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Sales equipment and website

-

25% on reducing balance

Plant equipment and tooling

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer & office equipment

-

25% on reducing balance

The directors consider that the net realisable value of the freehold property is in excess of the carrying value, such that no depreciation is recognised in the financial statements.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on as incurred over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

39,200

Additions

31,875

At 31 December 2024

71,075

AMORTISATION

At 1 January 2024

39,200

Amortisation for year

7,969

At 31 December 2024

47,169

NET BOOK VALUE

At 31 December 2024

23,906

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

396,562

Additions

120,577

At 31 December 2024

517,139

DEPRECIATION

At 1 January 2024

256,461

Charge for year

24,543

At 31 December 2024

281,004

NET BOOK VALUE

At 31 December 2024

236,135

At 31 December 2023

140,101

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Additions

115,613

At 31 December 2024

115,613

DEPRECIATION

Charge for year

14,119

At 31 December 2024

14,119

NET BOOK VALUE

At 31 December 2024

101,494

Outstanding amounts owing on hire purchase assets are secured against the assets to which they relate.

6.	SECURED DEBTS

HSBC bank hold fixed and floating charges over the assets of the company in respect of all money and liabilities owed or that become owing to it.

Robert Roebuck holds a floating charge over the assets of the company in respect of deferred liabilities owed in relation to the purchase of the company's share capital by JBT Global Limited.

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There were no loans advances or repayments made to or from directors during the year.

8.	RELATED PARTY DISCLOSURES

There have been no material transactions with any related parties, other than those with the directors.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by JBT Global Limited.