Chiltern Connections Limited - Filleted accounts


CHILTERN CONNECTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024



































Company Registration Number: 02476963

CHILTERN CONNECTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 10

CHILTERN CONNECTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024


DIRECTORS

J D Woollcott
P C E Woollcott
died 7 May 2024
S H Woollcott
J B Wilder
appointed 1 March 2025


SECRETARY

J D Woollcott


REGISTERED OFFICE

5 Verda Park
Wallingford
Oxfordshire
OX10 9SJ


COMPANY REGISTRATION NUMBER

02476963 England and Wales

CHILTERN CONNECTIONS LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2024


	Notes	2024		2023
		£		£

FIXED ASSETS
Tangible assets	6		1,429,556		1,538,623

CURRENT ASSETS
Stock		105,954		172,632
Debtors	7	675,798		825,496
Cash at bank and in hand		482,064		516,944


		1,263,816		1,515,072

CREDITORS: Amounts falling due within one year	8	683,863		935,240
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS			579,953		579,832


TOTAL ASSETS LESS CURRENT LIABILITIES			2,009,509		2,118,455

CREDITORS: Amounts falling due after more than one year	9		348,789		416,688
CREDITORS: Amounts falling due after more than one year

Provisions for liabilities and charges			141,758		173,845


NET ASSETS			1,518,962		1,527,922


CAPITAL AND RESERVES
Called up share capital			100		100
Distributable profit and loss account			1,518,862		1,527,822


SHAREHOLDERS' FUNDS			1,518,962		1,527,922

CHILTERN CONNECTIONS LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2024


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

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.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board of directors




J D Woollcott
Director

Date approved by the board: 30 September 2025

CHILTERN CONNECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1	GENERAL INFORMATION

	Chiltern Connections Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	5 Verda Park
	Wallingford
	Oxfordshire
	OX10 9SJ

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of 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 the reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs. Turnover is stated net of trade discounts and value added tax.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Grant Income

	Grant income has been recognised under the accrual model, where income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

CHILTERN CONNECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Land and buildings			Straight line basis at 5% per annum
	Plant and machinery			Straight line basis at 20% and reducing balance at 25% per annum
	Leasehold improvements			Straight line basis at 10% per annum

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

	Financial Instruments

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

	The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CHILTERN CONNECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.


	Stock

	Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.

	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, less any impairment.

	Loans receivable are measured initially at fair value, net of transaction costs, and subsequently at amortised cost, less any impairment.


	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost using the effective interest method.

CHILTERN CONNECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Leases

	Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

	Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.

	Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Current and deferred tax assets and liabilities are not discounted.

	Pensions

	The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.

	Employee benefits

	Short term employee benefits are recognised as an expense in the period in which they are incurred.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

CHILTERN CONNECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4	RESTATEMENT OF COMPARATIVES

	The opening balances for land and buildings and plant and machinery have been restated due to a missallocation of assets in the prior year. The net book value of total tangible assets has not been impacted.

5	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

							2024	2023
	Average number of employees						29	32


6	TANGIBLE ASSETS
		Land and buildings		Plant and machinery		Leasehold improvements		Total
			£		£		£	£
	Cost
	At 1 January 2024 (Restated)		765,240		771,982		460,919	1,998,141

	Additions		-		36,041		-	36,041


	At 31 December 2024		765,240		808,023		460,919	2,034,182


	Accumulated depreciation and impairments
	At 1 January 2024 (Restated)		76,390		377,795		5,333	459,518

	Charge for year		13,022		85,994		46,092	145,108


	At 31 December 2024		89,412		463,789		51,425	604,626


	Net book value
	At 1 January 2024 (Restated)		688,850		394,187		455,586	1,538,623


	At 31 December 2024		675,828		344,234		409,494	1,429,556


7	DEBTORS
							2024	2023
							£	£
	Trade debtors						418,830	469,630
	Prepayments and accrued income						62,315	30,368
	Other debtors						194,653	325,498


							675,798	825,496

CHILTERN CONNECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


8	CREDITORS: Amounts falling due within one year
		2024	2023
		£	£
	Bank loans and overdrafts	70,695	67,004
	Trade creditors	220,365	604,384
	Taxation and social security	85,180	27,398
	Accruals and deferred income	307,471	232,982
	Other creditors	152	3,472


		683,863	935,240


9	CREDITORS: Amounts falling due after more than one year
		2024	2023
		£	£
	Bank loans and overdrafts	348,789	416,688


	Included in the amounts falling due after more than one year are the following amounts which are due in more
	than five years:
		2024	2023
		£	£
	Bank loans and overdrafts	112,949	135,871


10	SECURED DEBTS

	The company has a bank loan with Barclays which is secured on units 1, 2 and 3 Hithercroft Industrial Estate, Wallingford. The loan is due to be repaid by 2028 and has an interest rate of 3.25% over base rate.This loan also has fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery.

11	CONTINGENCIES AND COMMITMENTS

	Other Commitments

	Amounts falling due under operating leases:	2024	2023
		£	£
	In less than one year	162,087	162,807
	In more than one but less than five years	648,350	648,350
	In more than five years	441,300	602,667


		1,251,737	1,413,824

CHILTERN CONNECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


12	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

	The following director's advances, credits and guarantees took place during the year

		Balance at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off or waived	Balance at 31 December 2024
		£	£	£	£		£
	J D Woollcott	212,390	11,817	93,812	-		130,395

	Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.

13	RELATED PARTY TRANSACTIONS

	During the year, the following transactions with related parties took place:

	Hithercroft Court Management Company Limited
	Connected company	2024	2023
		£	£
	Amounts owed by connected company	17,603	15,403