REGISTERED NUMBER: 04005413 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Chapel & Swan Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C M Swales

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

REGISTERED NUMBER:

04005413 (England and Wales)

FIXED ASSETS

Tangible assets

5

238,145

187,870

CURRENT ASSETS

Stocks

100,517

143,513

Debtors

6

461,448

441,030

Cash at bank and in hand

134,435

172,800

696,400

757,343

CREDITORS

Amounts falling due within one year

7

631,517

638,534

NET CURRENT ASSETS

64,883

118,809

TOTAL ASSETS LESS CURRENT LIABILITIES

303,028

306,679

CREDITORS

Amounts falling due after more than one year

8

(27,157

)

(43,062

)

PROVISIONS FOR LIABILITIES

(37,672

)

(35,695

)

NET ASSETS

238,199

227,922

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

45,765

45,765

Retained earnings

192,334

182,057

238,199

227,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 September 2026 and were signed by:

Mr C M Swales - Director

1.	STATUTORY INFORMATION

Chapel & Swan Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice discounting

The company undertakes sales invoice financing. The full amount of trade debtors is shown in the balance sheet, with amounts drawn down and due to the finance company shown in other creditors and amounts to be drawn down and due to the company shown within cash at bank.

Change of accounting period and comparability

The current financial reporting period is not fully comparable with the prior period as it was prepared for a period of 18 months, whereas the current period is of 12 months.

Change in accounting estimate

During the year, the director reviewed the estimated useful economic lives of motor vehicles and plant & machinery. As a result of this review, the directors have changed the depreciation policy from 25% on cost to 25% reducing balance, the director feels that this better represents the assets useful lives and market value.

The effect of the change was to decrease the depreciation charge for the year by approximately £33,650. The change has been accounted for prospectively as a change in accounting estimate in accordance with FRS 102.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 15 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

497,352

Additions

117,453

At 31 December 2025

614,805

DEPRECIATION

At 1 January 2025

309,482

Charge for year

67,178

At 31 December 2025

376,660

NET BOOK VALUE

At 31 December 2025

238,145

At 31 December 2024

187,870

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

167,132

DEPRECIATION

At 1 January 2025

99,040

Charge for year

17,023

At 31 December 2025

116,063

NET BOOK VALUE

At 31 December 2025

51,069

At 31 December 2024

68,092

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

373,468

424,966

Other debtors

87,980

16,064

461,448

441,030

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

7,982

17,463

Hire purchase contracts (see note 9)

10,249

21,128

Trade creditors

295,321

242,950

Taxation and social security

11,161

37,982

Other creditors

306,804

319,011

631,517

638,534

Other creditors includes the factoring account balance of £295,174 (2024 - £300,026), pensions payable of £Nil (2024 - £1,687), directors loan balance of £3,072 (2024 - £6,765), accruals of £4,048 (2024 - £992), and other creditors of £4,510 (2024 - £9,541).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

17,763

23,419

Hire purchase contracts (see note 9)

9,394

19,643

27,157

43,062

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

10,249

21,128

Between one and five years

9,394

19,643

19,643

40,771

Non-cancellable

operating leases

2025

2024

£

£

Within one year

20,400

20,400

Between one and five years

149,600

170,000

170,000

190,400

10.	SECURED DEBTS

On 9 January 2012, Hitachi Capital (UK) PLC secured a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

On 1 April 2021, Advantedge Commercial Finance Limited secured a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.