Accounts

	CHEVRONIC HOLDINGS UK LIMITED
	UNAUDITED FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 31 MARCH 2018

	CHEVRONIC HOLDINGS UK LIMITED
	FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 31 MARCH 2018
	DIRECTOR
	Mr R P Moss
	SECRETARY
	Mr R P Moss
	REGISTERED OFFICE
	6 Bedford Road Barton Le Clay Bedfordshire MK45 4JU
	COMPANY REGISTERED NUMBER
	10623628
	BANKERS
	Barclays Bank Plc
	ACCOUNTANTS
	Needham Hall & Co
	Chartered Accountants
	6 Bedford Road Barton Le Clay Bedfordshire MK45 4JU
	CONTENTS
	Pages
	2-3	Statement of Financial Position
	4-7	Notes to the Financial Statements

	page 1

	CHEVRONIC HOLDINGS UK LIMITED
	Company registered number: 10623628
	STATEMENT OF FINANCIAL POSITION AT 31 March 2018
		Note	2018
			£	£
	FIXED ASSETS
	Property, plant and equipment	2		713,892
	CURRENT ASSETS
	Cash at bank and in hand		115,357
			115,357
	CREDITORS: Amounts falling due within one year	3	417,034
	NET CURRENT LIABILITIES			(301,677)
	TOTAL ASSETS LESS CURRENT LIABILITIES			412,215
	CREDITORS: Amounts falling due after more than one year	4		(386,286)
	NET ASSETS			£25,929
	CAPITAL AND RESERVES
	Called up share capital			1
	Retained earnings			25,928
	SHAREHOLDERS' FUNDS			£25,929

	The notes on pages 4-7 form part of these financial statements
	page 2

	CHEVRONIC HOLDINGS UK LIMITED
	Company registered number: 10623628
	STATEMENT OF FINANCIAL POSITION AT 31 March 2018 (CONT.)
		Note	2018
			£	£

	In approving these financial statements as director of the company I hereby confirm the following:
	For the period 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 2018 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 09 October 2018
	Signed on behalf of the board of directors
	Mr R P Moss, Director

	The notes on pages 4-7 form part of these financial statements
	page 3

	CHEVRONIC HOLDINGS UK LIMITED
	NOTES TO THE ACCOUNTS
	FOR THE PERIOD ENDED 31 MARCH 2018

1.	SIGNIFICANT ACCOUNTING POLICIES

1a.	Statement of compliance
	Chevronic Holdings UK 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 16 February 2017.
	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.	Borrowing costs
	Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

1e.	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.

1f.	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.
	Freehold Land and Buildings	No Depreciation as assets are shown at cost.

	The notes on pages 4-7 form part of these financial statements
	page 4

	CHEVRONIC HOLDINGS UK LIMITED
	NOTES TO THE ACCOUNTS (CONT.)
	FOR THE PERIOD ENDED 31 MARCH 2018

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.	Interest bearing borrowings
	All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.

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 4-7 form part of these financial statements
	page 5

	CHEVRONIC HOLDINGS UK LIMITED
	NOTES TO THE ACCOUNTS (CONT.)
	FOR THE PERIOD ENDED 31 MARCH 2018

2.	PROPERTY, PLANT AND EQUIPMENT
		Freehold	Total
		£	£
	Cost
	Additions other than through business combinations	713,892	713,892
	At 31 March 2018	713,892	713,892
	Depreciation
	At 31 March 2018	-	-
	Net Book Amounts
	At 31 March 2018	£713,892	£713,892

3.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2018
		£
	Debenture loans	66,122
	Bank loans and overdrafts	13,270
	Trade creditors	10,598
	Corporation tax	6,152
	Other taxes and social security	3,260
	Other creditors	317,033
	Accruals and deferred income	599
		£417,034

	The notes on pages 4-7 form part of these financial statements
	page 6

	CHEVRONIC HOLDINGS UK LIMITED
	NOTES TO THE ACCOUNTS (CONT.)
	FOR THE PERIOD ENDED 31 MARCH 2018

4.	CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
		2018
		£
	Bank loans and overdrafts	386,286
		£386,286
	The bank loans are secured on the freehold properties in favour of Barclays Bank Plc.
	Analysis of borrowings:
	Due within five years:
	within 1 year
	bank	13,270
	other	66,122
	within 1-2 years
	bank	13,271
	within 2-5 years
	bank	39,812
		£132,475
	Due after five years:
	wholly or in part by instalments	333,203
	otherwise than by instalments	-
		£333,203

	The notes on pages 4-7 form part of these financial statements
	page 7