Company Registration No. 02672623 (England and Wales)
CHAPEL DIY CENTRE LIMITED
Unaudited accounts
for the year ended 28 February 2025
CHAPEL DIY CENTRE LIMITED
Unaudited accounts
Contents
CHAPEL DIY CENTRE LIMITED
Company Information
for the year ended 28 February 2025
Directors
P E Carrington
J A Baxter
Company Number
02672623 (England and Wales)
Registered Office
Central Station
Chapel-en-le-Frith
High Peak
SK23 9RE
Accountants
Stoney Philbin & Company Limited
7 High Street
Chapel-en-le-Frith
High Peak
SK23 0HD
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
CHAPEL DIY CENTRE LIMITED
for the year ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
CHAPEL DIY CENTRE LIMITED for the year ended
28 February 2025 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Stoney Philbin & Company Limited
Chartered Certified Accountants
7 High Street
Chapel-en-le-Frith
High Peak
SK23 0HD
21 March 2025
CHAPEL DIY CENTRE LIMITED
Statement of financial position
as at 28 February 2025
Tangible assets
31,690
34,216
Cash at bank and in hand
28,654
63,429
Creditors: amounts falling due within one year
(97,065)
(92,846)
Net current assets
84,444
132,056
Total assets less current liabilities
116,134
166,272
Creditors: amounts falling due after more than one year
(28,241)
(33,796)
Provisions for liabilities
Deferred tax
(1,899)
(2,379)
Called up share capital
1,000
1,000
Profit and loss account
84,994
129,097
Shareholders' funds
85,994
130,097
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by
P E Carrington
Director
Company Registration No. 02672623
CHAPEL DIY CENTRE LIMITED
Notes to the Accounts
for the year ended 28 February 2025
CHAPEL DIY CENTRE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02672623. The registered office is Central Station, Chapel-en-le-Frith, High Peak, SK23 9RE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
33% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
CHAPEL DIY CENTRE LIMITED
Notes to the Accounts
for the year ended 28 February 2025
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 March 2024
21,694
71,354
82,650
11,189
9,443
196,330
At 28 February 2025
21,694
71,354
82,650
11,303
9,443
196,444
At 1 March 2024
-
62,609
79,346
11,189
8,970
162,114
Charge for the year
-
1,312
826
29
473
2,640
At 28 February 2025
-
63,921
80,172
11,218
9,443
164,754
At 28 February 2025
21,694
7,433
2,478
85
-
31,690
At 29 February 2024
21,694
8,745
3,304
-
473
34,216
Amounts falling due within one year
Trade debtors
69,780
80,844
Accrued income and prepayments
4,911
2,812
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
5,555
5,556
Trade creditors
40,370
52,301
Taxes and social security
12,729
32,579
Loans from directors
37,061
1,060
7
Creditors: amounts falling due after more than one year
2025
2024
CHAPEL DIY CENTRE LIMITED
Notes to the Accounts
for the year ended 28 February 2025
8
Average number of employees
During the year the average number of employees was 10 (2024: 9).