Company Registration No. 11996677 (England and Wales)
CHASE (HERTFORD) LIMITED
Unaudited accounts
for the year ended 31 December 2024
CHASE (HERTFORD) LIMITED
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
100
Creditors: amounts falling due within one year
(8,556,743)
Net current assets
6,854,385
Total assets less current liabilities
6,854,385
Creditors: amounts falling due after more than one year
(6,027,878)
Called up share capital
100
Profit and loss account
826,407
Shareholders' funds
826,507
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by
Gary James Barton
Director
Company Registration No. 11996677
CHASE (HERTFORD) LIMITED
Notes to the Accounts
for the year ended 31 December 2024
CHASE (HERTFORD) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11996677. The registered office is Jasmine House, 8 Parkway, Welwyn Garden City, AL8 6HG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises revenue recognised by the company in respect of services supplied during the period, exclusive of value added tax.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. .
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The tax expenses represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further includes 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 reporting end date.
CHASE (HERTFORD) LIMITED
Notes to the Accounts
for the year ended 31 December 2024
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which includes debtors, cash and bank balances, are initially measured a transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement consists a financing transaction, where the transaction is measured at the present valve of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within
borrowings in current liabilities.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Amounts falling due within one year
5
Creditors: amounts falling due within one year
2024
Amounts owed to group undertakings and other participating interests
7,923,677
Taxes and social security
275,469
6
Creditors: amounts falling due after more than one year
2024
CHASE (HERTFORD) LIMITED
Notes to the Accounts
for the year ended 31 December 2024
7
Average number of employees
During the year the average number of employees was 3.