Accounts


01 April 201831 March 2019No principle activity is included043042632018-04-01043042632019-03-31043042632018-04-012019-03-31043042632018-03-31043042632017-04-012018-03-3104304263uk-core:WithinOneYear2019-03-3104304263uk-core:WithinOneYear2018-03-3104304263uk-core:ShareCapital2019-03-3104304263uk-core:ShareCapital2018-03-3104304263uk-core:RetainedEarningsAccumulatedLosses2019-03-3104304263uk-core:RetainedEarningsAccumulatedLosses2018-03-3104304263uk-bus:Director12018-04-012019-03-3104304263uk-bus:RegisteredOffice2018-04-012019-03-3104304263uk-curr:PoundSterling2018-04-012019-03-3104304263uk-core:PlantMachinery2018-04-012019-03-3104304263uk-core:Vehicles2018-04-012019-03-3104304263uk-core:VehiclesPlantMachinery2018-03-3104304263uk-core:VehiclesPlantMachinery2018-04-012019-03-3104304263uk-core:VehiclesPlantMachinery2019-03-3104304263uk-bus:FRS1022018-04-012019-03-3104304263uk-bus:FullAccounts2018-04-012019-03-3104304263uk-bus:AuditExempt-NoAccountantsReport2018-04-012019-03-3104304263uk-bus:PrivateLimitedCompanyLtd2018-04-012019-03-31iso4217:GBPxbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  CHEVRONIC CENTRE LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 MARCH 2019
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  CHEVRONIC CENTRE LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 MARCH 2019
       
       
  DIRECTORS
       
  R P Moss
       
       
  SECRETARY
       
  R H Moss
       
  REGISTERED OFFICE
       
  6 Bedford Road
Barton Le Clay
Bedfordshire
MK45 4JU
       
       
  COMPANY REGISTERED NUMBER
       
  04304263
       
       
  BANKERS
       
  Barclays Bank PLC
       
       
  ACCOUNTANTS
       
  Needham Hall & Co
  Chartered Accountants
  6 Bedford Road
Barton Le Clay
Bedfordshire
MK45 4JU
       
       
  CONTENTS
       
  Pages
       
       
  2 Statement of Financial Position  
       
       
  3-6 Notes to the Financial Statements  
       
     
  page 1
  CHEVRONIC CENTRE LIMITED
  Company registered number: 04304263
  STATEMENT OF FINANCIAL POSITION AT 31 March 2019
           
    Note 2019 2018
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 2 6,803 8,196
  CURRENT ASSETS    
  Inventories   20,500 23,000
  Debtors 3 56,345 15,567
  Cash at bank and in hand   - 55,150
      76,845 93,717
  CREDITORS: Amounts falling due within one year 4 25,716 44,546
  NET CURRENT ASSETS   51,129 49,171
  NET ASSETS   £57,932 £57,367
       
  CAPITAL AND RESERVES
  Called up share capital   100 100
  Retained earnings   57,832 57,267
  SHAREHOLDERS' FUNDS   £57,932 £57,367
       
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 23 October 2019
 
  Signed on behalf of the board of directors
 
 
       
  R P Moss, Director
       
       
  The notes on pages 3-6 form part of these financial statements
   
  page 2
  CHEVRONIC CENTRE LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 MARCH 2019
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Chevronic Centre Limited is a private limited company incorporated in England and Wales.
         
  Registered office:
  6 Bedford Road
Barton Le Clay
Bedfordshire
MK45 4JU
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 April 2018.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. 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" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
       
1e. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
         
1f. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
  The notes on pages 3-6 form part of these financial statements
   
  page 3
  CHEVRONIC CENTRE LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2019
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1g. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1h. 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 and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1i. Discontinued operations
         
  A discontinued operation is a component of the Company's business, the operations and cash flows of which can be clearly distinguished from the rest of the Company and which represents a separate major line of business or geographical area of operations, or is part of a signal coordinated disposal of a separate major line of business or geographical area of operations, or is a subsidiary acquired exclusively with a review to resale.
         
         
1j. Provisions
         
  Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
         
         
1k. Judgements and key sources of estimation uncertainty
         
  In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
         
 
         
 
         
  The notes on pages 3-6 form part of these financial statements
   
  page 4
  CHEVRONIC CENTRE LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2019
       
2. PROPERTY, PLANT AND EQUIPMENT
    Plant &  
    Machinery Total
    £ £
  Cost
       
  At 1 April 2018 39,667 39,667
  Additions other than through business combinations 874 874
       
  At 31 March 2019 40,541 40,541
   
  Depreciation
       
  At 1 April 2018 31,471 31,471
  For the year 2,267 2,267
  At 31 March 2019 33,738 33,738
   
  Net Book Amounts
       
  At 31 March 2019 6,803 6,803
  At 31 March 2018 8,196 8,196
   
       
       
3. DEBTORS 2019 2018
    £ £
  Trade debtors 8,908 10,589
  Other debtors 47,437 4,978
    £56,345 £15,567
   
       
       
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2019 2018
    £ £
  Bank loans and overdrafts 1,074 -
  Trade creditors 11,708 17,900
  Corporation tax 7,803 10,374
  Other taxes and social security 4,581 15,513
  Other creditors - 209
  Accruals and deferred income 550 550
    £25,716 £44,546
   
  The notes on pages 3-6 form part of these financial statements
   
  page 5
  CHEVRONIC CENTRE LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2019
       
       
5. RELATED PARTY TRANSACTIONS
       
  The company was controlled throughout the current and previous year by its director, Mr R P Moss by virtue of the fact that he and his wife own 100% of the company's issued share capital.
       
  During the year total dividends of £32,000 (2018 £33,500) were paid to the director.
       
  The notes on pages 3-6 form part of these financial statements
   
  page 6