Chestnut Motors Limited - Filleted accounts

Registered number

09459496

Chestnut Motors Limited

Unaudited Filleted Accounts

28 February 2025

Chestnut Motors Limited
Registered number:		09459496
Balance Sheet
as at 28 February 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		20,390			25,635

Current assets
Stocks		657,517			724,759
Debtors	4	8,519			5,000
Cash at bank and in hand		70,837			43,024
		736,873			772,783

Creditors: amounts falling due within one year	5	(402,320)			(506,001)

			334,553			266,782

Total assets less current liabilities			354,943			292,417

Creditors: amounts falling due after more than one year	6		(12,657)			(33,027)



Net assets			342,286			259,390

Capital and reserves
Called up share capital			1			1
Profit and loss account			342,285			259,389

Shareholders' funds			342,286			259,390

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The 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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Richard Scott
Director
Approved by the board on 9 October 2025

Chestnut Motors Limited
Notes to the Accounts
for the year ended 28 February 2025


1	Accounting policies

	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 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 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor vehicles			over 5 years straight line
	Fixtures, fittings, tools and equipment			over 3 years straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. 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 (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					3		3


3	Tangible fixed assets
				Plant and machinery etc		Motor vehicles		Total
£					£		£
	Cost
	At 1 March 2024			34,619		19,566		54,185
	Additions			209		2,325		2,534
	At 28 February 2025			34,828		21,891		56,719

	Depreciation
	At 1 March 2024			17,837		10,713		28,550
	Charge for the year			3,401		4,378		7,779
	At 28 February 2025			21,238		15,091		36,329

	Net book value
	At 28 February 2025			13,590		6,800		20,390
	At 29 February 2024			16,782		8,853		25,635


4	Debtors					2025		2024
£							£

	Trade debtors					3,519		-
	Other debtors					5,000		5,000
						8,519		5,000


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					15,953		10,000
	Obligations under finance lease and hire purchase contracts					8,676		11,453
	Trade creditors					316,158		386,953
	Taxation and social security costs					60,885		54,956
	Other creditors					648		42,639
						402,320		506,001


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					2,052		12,500
	Obligations under finance lease and hire purchase contracts					10,605		20,527
						12,657		33,027


7	Loans from directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£

	Directors loan	23,087		312		(24,000)		(601)

		23,087		312		(24,000)		(601)
	The above loan is included in other creditors.

8	Other information

	Chestnut Motors Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Factory Road
	Sandycroft
	Deeside
	CH5 2QJ