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Registered number: 08825656
Chevin Retail Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08825656
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 314,155 313,697
314,155 313,697
CURRENT ASSETS
Stocks 780,694 998,596
Debtors 5 89,255 91,477
Cash at bank and in hand 407,361 429,757
1,277,310 1,519,830
Creditors: Amounts Falling Due Within One Year 6 (888,224 ) (819,490 )
NET CURRENT ASSETS (LIABILITIES) 389,086 700,340
TOTAL ASSETS LESS CURRENT LIABILITIES 703,241 1,014,037
Creditors: Amounts Falling Due After More Than One Year 7 (189,781 ) (317,176 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (41,197 ) (58,983 )
NET ASSETS 472,263 637,878
CAPITAL AND RESERVES
Called up share capital 10 10 10
Income Statement 472,253 637,868
SHAREHOLDERS' FUNDS 472,263 637,878
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Income Statement.
On behalf of the board
Mr Gordon Walker
Director
10 June 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
Chevin Retail Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08825656 . The registered office is Unit 3 Wells Road Business Centre, Wells Road, Ilkley, West Yorkshire, LS29 9JB. The company's place of business is 23A Westgate, Otley, West Yorkshire, LS21 3AT.
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. Going Concern Disclosure
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern asumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue. The board is committed to the success of the company in the following twelve months, and where necessary will endeavour to support the company with all means at their disposal to ensure its continuity.  Therefore the directors still believe it is appropriate to prepare the accounts on a going concern basis.
2.3. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. 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 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 15% on reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
2.6. 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 year 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 68 (2024: 65)
68 65
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2024 41,550 132,234 315,769 55,226 544,779
Additions 19,018 - 25,695 3,418 48,131
As at 28 February 2025 60,568 132,234 341,464 58,644 592,910
Depreciation
As at 1 March 2024 16,164 20,610 167,419 26,889 231,082
Provided during the period 5,674 12,641 24,832 4,526 47,673
As at 28 February 2025 21,838 33,251 192,251 31,415 278,755
Net Book Value
As at 28 February 2025 38,730 98,983 149,213 27,229 314,155
As at 1 March 2024 25,386 111,624 148,350 28,337 313,697
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 26,067
Other debtors 89,255 65,410
89,255 91,477
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 14,939 14,939
Trade creditors 443,999 518,224
Bank loans and overdrafts 247,167 95,521
Other creditors 11,874 19,889
Taxation and social security 170,245 170,917
888,224 819,490
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 74,134 87,696
Bank loans 115,647 229,480
189,781 317,176
8. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 89,073 102,635
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,939 14,939
Later than one year and not later than five years 74,134 87,696
89,073 102,635
89,073 102,635
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10 10
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 75,250 175,458
Later than one year and not later than five years - 75,250
75,250 250,708
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