| G S Chapman Ltd |
| Balance Sheet |
| As at 31 March 2025 |
|
|
Notes |
|
2025 |
|
2024 |
|
|
|
£ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
223,748 |
|
225,495 |
|
|
|
|
|
|
| Current assets |
| Stocks |
|
|
33,249 |
|
30,364 |
| Debtors |
5 |
|
54,429 |
|
51,225 |
| Cash at bank and in hand |
|
|
106,651 |
|
65,266 |
|
|
|
194,329 |
|
146,855 |
|
| Creditors: amounts falling due within one year |
6 |
|
(67,756) |
|
(44,419) |
|
|
|
|
|
|
| Net current assets |
|
|
126,573 |
|
102,436 |
| Total assets less current liabilities |
|
|
350,321 |
|
327,931 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
(2,895) |
|
(11,439) |
|
| Provisions for liabilities |
|
|
(16,105) |
|
(15,209) |
|
|
|
|
|
|
| Net assets |
|
|
331,321 |
|
301,283 |
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
10 |
|
10 |
| Profit and loss account |
|
|
331,311 |
|
301,273 |
|
|
|
|
|
|
| Shareholder's funds |
|
|
331,321 |
|
301,283 |
|
|
|
|
|
|
|
|
| These accounts have been prepared and delivered in accordance with the provisions within Part 15 of the Companies Act 2006 relating to small companies. The profit and loss account has not been delivered to the Registrar of Companies. |
| 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 member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006 and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit for the financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. |
| The accounts were approved by the Board on 31 December 2025 and signed on its behalf by: |
|
|
|
|
| Graeme S Chapman |
| Director |
|
| G S Chapman Ltd |
| Notes to the Accounts |
| For the Year Ended 31 March 2025 |
|
|
| 1 |
Statutory information |
|
|
G S Chapman Ltd is a private company limited by shares and incorporated in Scotland. Its registered number and registered office address can be found on the Company Information page. |
|
| 2 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the invoiced value of goods and services supplied, excluding VAT. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
|
Motor vehicles |
25% reducing balance |
|
Buildings |
2% straight line |
|
Tools & equipment |
30% & 15% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price. 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. |
|
|
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. Financial liabilities classed as payable within one year are not amortised. |
|
|
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. Current and deferred tax assets and liabilities are not discounted. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
|
|
|
|
|
|
|
2025 |
|
2024 |
|
| 3 |
Employees |
No. |
No. |
|
|
Average number of persons employed by the company during the year |
|
|
|
|
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
Motor vehicles |
|
Land & buildings |
|
Tools & equipment |
|
Total |
|
|
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2024 |
3,100 |
|
191,422 |
|
62,866 |
|
257,388 |
|
Additions |
6,057 |
|
- |
|
6,026 |
|
12,083 |
|
Disposals |
(3,100) |
|
- |
|
(934) |
|
(4,034) |
|
At 31 March 2025 |
6,057 |
|
191,422 |
|
67,958 |
|
265,437 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
710 |
|
8,399 |
|
22,784 |
|
31,893 |
|
Charge for the year |
587 |
|
3,828 |
|
6,802 |
|
11,217 |
|
On disposals |
(710) |
|
- |
|
(711) |
|
(1,421) |
|
At 31 March 2025 |
587 |
|
12,227 |
|
28,875 |
|
41,689 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
5,470 |
|
179,195 |
|
39,083 |
|
223,748 |
|
At 31 March 2024 |
2,390 |
|
183,023 |
|
40,082 |
|
225,495 |
|
|
|
|
|
|
|
|
|
2025 |
|
2024 |
|
| 5 |
Debtors |
£ |
£ |
|
|
Trade debtors |
51,083 |
|
49,606 |
|
Other debtors |
3,346 |
|
1,619 |
|
|
|
|
|
|
54,429 |
|
51,225 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
£ |
£ |
|
|
Bank loan |
8,546 |
|
8,332 |
|
Trade creditors |
15,741 |
|
12,899 |
|
Corporation tax |
23,581 |
|
11,396 |
|
Other taxes and social security costs |
16,301 |
|
7,788 |
|
Other creditors |
3,587 |
|
4,004 |
|
|
|
|
|
|
67,756 |
|
44,419 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
2024 |
|
| 7 |
Creditors: amounts falling due after one year |
£ |
£ |
|
|
Bank loan |
2,895 |
|
11,439 |
|
|
Repayable as follows : |
|
By installments falling due for payment between two and five years |
2,895 |
|
11,439 |
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Other financial commitments |
£ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
5,389 |
|
2,845 |
|
|
|
|
|
|
|
|
|