CHALK GIANT LTD


Directors	DALY, Jennifer Louise
	PEET, Kenneth Brian John


Registered Address	9 Long Street
	Cerne Abbas
	Dorchester
	DT2 7JF


Registered Number	10989959 (England and Wales)

Notes to the Financial Statements
for the year ended 31 October 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

	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).

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Land and buildings	50
	Plant and machinery	4
	Fixtures and fittings	4
	Office Equipment	3

	Investments
	Investment property is shown at most recent valuation. Any aggregate surplus of deficit arising from changes in fair value is recognised in the profit and loss account.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

	Government grants or assistance
	Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. The company recognised an Horizon Shortfall Scheme Fixed Sum Offer of £75,000 - a Post Office settlement - as "Government Grant income" in full when it was received during the year. This was not a Government Grant, rather compensation that is best described as Exceptional Income.

Government grants or assistance

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

The company recognised an Horizon Shortfall Scheme Fixed Sum Offer of £75,000 - a Post Office settlement - as "Government Grant income" in full when it was received during the year. This was not a Government Grant, rather compensation that is best described as Exceptional Income.

2.	Average number of employees
	The disclosure of an average of 10 employees published last year for 2024 was an error.


		2025		2024
	Average number of employees during the year	7		7

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 November 24	20,000
	At 31 October 25	20,000
	Amortisation and impairment
	At 01 November 24	19,573
	Charge for year	427
	At 31 October 25	20,000
	Net book value
	At 31 October 25	-
	At 31 October 24	427

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 November 24	144,535
	Additions	2,948
	At 31 October 25	147,482
	Depreciation and impairment
	At 01 November 24	41,504
	Charge for year	7,346
	At 31 October 25	48,850
	Net book value
	At 31 October 25	98,633
	At 31 October 24	103,031

5.	Fixed asset investments
	The business has an investment property carried at a current value (and historic cost) of £435,000 (PY: £435,000)

		Total
		£
	Cost or valuation
	At 01 November 24	435,000
	At 31 October 25	435,000
	Net book value
	At 31 October 25	435,000
	At 31 October 24	435,000

6.	Stocks

	2025	2024
	£	£
Finished goods	38,647	44,853
Total	38,647	44,853

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	2,971	-
Total	2,971	-

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	2,873
Taxation and social security	37,760	44,926
Other creditors	147,163	117,577
Total	184,923	165,376


	Included in Other Creditors is a sum owed jointly to the Directors of £146,459 (PY: £111,726). It is interest free and repayable on demand.

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	52,806	90,874
Total	52,806	90,874

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	542	-
Total	542	-

11.	Pension commitments
	The company operates a defined contribution pension scheme for the directors and senior employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £687 (2024: £2,642) were due to the fund. They are included in other creditors.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		-		427
Tangible assets	4		98,633		103,031
Investments	5		435,000		435,000
			533,633		538,458
Current assets
Stocks	6	38,647		44,853
Debtors	7	2,971		-
Cash at bank and on hand		169,989		76,171
		211,607		121,024
Creditors amounts falling due within one year	8	(184,923)		(165,376)
Net current assets (liabilities)			26,684		(44,352)
Total assets less current liabilities			560,317		494,106
Creditors amounts falling due after one year	9		(52,806)		(90,874)
Provisions for liabilities	10		(542)		-
Accruals and deferred income			(15,380)		-
Net assets			491,589		403,232
Capital and reserves
Called up share capital			100		100
Profit and loss account			491,489		403,132
Shareholders' funds			491,589		403,232