ACCOUNTS - Final Accounts preparation

Called up share capital

Unaudited
As restated

Registered number: 10443076

CHASESTEAD LV LIMITED

AUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2025

CHASESTEAD LV LIMITED

REGISTERED NUMBER: 10443076

BALANCE SHEET

AS AT 31 AUGUST 2025

		2025		Unaudited 2024
Note		£		£


Current assets
Stocks	4	6,022		-
Debtors: amounts falling due within one year	5	38,332		8,761
Cash at bank and in hand	6	160,050		150,844
		204,404		159,605
Creditors: amounts falling due within one year	7	(21,236)		(16,985)
Net current assets			183,168		142,620
Total assets less current liabilities			183,168		142,620

Net assets			183,168		142,620

Capital and reserves
Called up share capital	8	1	1
Share premium account	9	999	999
Profit and loss account	9	182,168	141,620
		183,168	142,620

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 Statement of Income and Retained Earnings 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 by:

Robin Moore

Director

Date: 26 August 2026

The notes on pages 2 to 8 form part of these financial statements.

Page 1

CHASESTEAD LV LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	General information

Chasestead LV Limited (the 'Company') is a private company, limited by shares and incorporated in England and Wales.

The Company's registered office and principal place of business is Icknield Way, Letchworth Garden City, Hertfordshire, SG6 1JX. The Company's registered number is 10443076.

The principal activity of the Company for the current and prior year was that of the prototype of low volume production components.

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 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 Company has net assets at the reporting date of £183,168 (2024 - £142,620). The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that the Company will be able to meet its liabilities as they fall due, for at least 12 months from the date of signing these financial statements.

Based on the above, the Directors consider it appropriate to prepare the financial statements on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation currency is GBP, and monetary amounts included in these financial statements are rounded to the nearest pound (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 2

CHASESTEAD LV LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.3

Foreign currency translation (continued)

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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.

2.5

Taxation

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.

Page 3

CHASESTEAD LV LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

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.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

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.

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Page 4

CHASESTEAD LV LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.10

Financial instruments (continued)

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 5

CHASESTEAD LV LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.10

Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Employees

The average monthly number of employees, including Directors, during the year was 2 (2024 - 2).

4.	Stocks
		2025	Unaudited 2024
		£	£

	Spare parts	6,022	-

5.	Debtors: amounts falling due within one year

					2025	Unaudited 2024
					£	£


Trade debtors	29,734	-
Amounts owed by group undertakings	8,598	8,598
Other debtors	-	163
	38,332	8,761

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

6.	Cash and cash equivalents
		2025	Unaudited 2024
		£	£

	Cash at bank and in hand	160,050	150,844

Page 6

CHASESTEAD LV LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

7.	Creditors: amounts falling due within one year
		2025	Unaudited 2024
		£	£

Trade creditors	-	10,770
Amounts owed to group undertakings	11,966	-
Corporation tax	-	3,815
Other taxation and social security	6,165	-
Accruals	3,105	2,400
	21,236	16,985

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

Certain comparative amounts have been reclassified to conform with the current year presentation. £999 (2024 - £999) included within called up share capital have been reclassified to be presented within share premium due to the nature of these balances. These reclassifications have no impact on previously reported profits or net assets.

9.	Capital and reserves

The capital and reserves of the Company are as follows:

Called up share capital

Called up share capital represents the nominal value of shares that have been issued.

Share premium

Share premium amounts includes any premiums received on issue of share capital. Any transactions costs associated with the issuing of shares are deducted from share premium.

Profit and loss account

The profit and loss account represents cumulative profits, losses and total other recognised gains or losses made by the Company, including the distributions to, and contributions from, other group companies.

Page 7

CHASESTEAD LV LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

10.	Related party transactions
	The Company has taken advantage of the exemption available in accordance with Section 33 "Related party disclosure" of FRS 102 not to disclose transactions entered into between two or more members of the group that are wholly owned.

11.	Post balance sheet events

There have been no significant events affecting the Company since the year end.

12.	Controlling party

The immediate parent undertaking is Chasestead Group Limited, a company registered in England and Wales.

The ultimate parent undertaking is Chasestead Holdings Limited, a company registered in England and Wales.

The Company's ultimate controlling parties are Mr Robin Moore and Mr Justin Sedgwick by virtue of their majority shareholdings in Chasestead Holdings Limited.

13.	Auditor's information

The auditor's report on the financial statements for the year ended 31 August 2025 was unqualified.

The audit report was signed on 26 August 2026 by Glenn Armon-Jones ACA FCCA (Senior Statutory Auditor) on behalf of Barrow LLP.

Page 8