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Registered number: 08484499 CHELSEA JOINERY LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 JUNE 2025
CHELSEA JOINERY LIMITED REGISTERED NUMBER: 08484499 BALANCE SHEET AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 1,088,037 |  | 604,187
Investments | 5 |  | 50,000 |  | 50,000
|  |  | 1,138,037 |  | 654,187
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1,493 |  | 98 |
Cash at bank and in hand |  | 16,676 |  | 13,101 |
|  | 18,169 |  | 13,199 |
Creditors: amounts falling due within one year | 7 | (51,262) |  | (46,972) |
Net current liabilities |  |  | (33,093) |  | (33,773)
Total assets less current liabilities |  |  | 1,104,944 |  | 620,414
Creditors: amounts falling due after more than one year | 8 |  | (315,642) |  | (335,981)
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 |  | (153,750) |  | -
Net assets |  |  | 635,552 |  | 284,433
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 200 |  | 200
Revaluation reserve |  |  | 454,500 |  | 118,250
Profit and loss account |  |  | 180,852 |  | 165,983
|  |  | 635,552 |  | 284,433
Page 1
CHELSEA JOINERY LIMITED REGISTERED NUMBER: 08484499 BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 February 2026.
................................................ D R Maeer
Director
The notes on pages 3 to 12 form part of these financial statements. Page 2
CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
Chelsea Joinery Limited is a private company limited by shares, incorporated in England and Wales, with a company registration number of 08484499. The address of the registered office is Anglia House 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk, NR7 0HR. The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The directors consider that the resources available to the company will be sufficient for it to be able to continue as a going concern. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.
| 2.3 | Revenue
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. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 3
CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 4
CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | 1.5% per annum
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.11 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.12 | 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 are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 5
CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
The average monthly number of employees, including directors, during the year was 2 (2024 - 2). Page 6
CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
4. | Tangible fixed assets
|  | Freehold property
|  | £
| Cost or valuation |
| At 1 July 2024 | 662,862
| Revaluations | 490,000
| At 30 June 2025 | 1,152,862
| Depreciation |
| At 1 July 2024 | 58,675
| Charge for the year on owned assets | 6,150
| At 30 June 2025 | 64,825
| Net book value |
| At 30 June 2025 | 1,088,037
| At 30 June 2024 | 604,187
Page 7
CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 July 2024 | 50,000
| At 30 June 2025 | 50,000
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,395 | -
| Called up share capital not paid | 98 | 98
|  | 1,493 | 98
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 18,000 | 16,600
| Amounts owed to group undertakings | 25,000 | 25,000
| Corporation tax | 2,630 | 1,708
| Other taxation and social security | 3,923 | 1,955
| Accruals and deferred income | 1,709 | 1,709
|  | 51,262 | 46,972
Page 8
CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 215,744 | 236,083
| Other loans | 99,898 | 99,898
|  | 315,642 | 335,981
| The following liabilities were secured:
| Details of security provided:
The total amount of creditors for which security has been given amounted to £358,642 (2024 - £377,582). A loan of £25,000 from it's subsidiary company Acre Joinery Limited and and the investment loans totalling £99,898 are also secured by the director David Maeer. The Bank Loan is secured by Barclays. Page 9
CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 18,000 | 16,600
| Amounts falling due 2-5 years |  |
| Bank loans | 71,800 | 66,300
| Amounts falling due after more than 5 years |  |
| Bank loans | 143,944 | 169,784
| Other loans | 99,898 | 99,898
|  | 243,842 | 269,682
|  | 333,642 | 352,582
Page 10
CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
10. | Deferred taxation
|  | 2025
|  | £
| Charged to profit or loss | 153,750
| At end of year | 153,750
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Potential gains | 153,750 | -
|  | 153,750 | -
11. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 98 (2024 - 98) ordinary A shares of £1.00 each | 98 | 98
|  | 35 (2024 - 35) ordinary B shares of £1.00 each | 35 | 35
|  | 35 (2024 - 35) ordinary C shares of £1.00 each | 35 | 35
|  | 16 (2024 - 16) ordinary D shares of £1.00 each | 16 | 16
|  | 16 (2024 - 16) ordinary E shares of £1.00 each | 16 | 16
|  |  | 200 | 200
12. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,000 (2024 - £2,400).
13. | Related party transactions
| Included within creditors due after more than one year is £99,898 being owed to the Directors K A Grimmer (£49,949), D R Maeer (£34,949) and D Maeer Associates Limited (£15,000). No interest is charged in respect of these loan balances.
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CHELSEA JOINERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
14. | Post balance sheet events
After the year end the company sold its investment property for £1,150,000.
15. | Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| Acre Joinery Limited | Anglia House, 6 Central Avenue, St Andrews Business Park Thorpe St Andrew, Norwich, Norfolk, NR7 0HR | Ordinary | 100%
| The aggregate of the share capital and reserves as at 30 June 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
| Name | Aggregate of share capital and reserves | Profit/(Loss)
| Acre Joinery Limited | 106,816 | 158,766
Page 12