ACCOUNTS - Final Accounts

CHAPEL INNS LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31true12021-04-01trueNo description of principal activity1true 03002560 2021-04-01 2022-03-31 03002560 2020-04-01 2021-03-31 03002560 2022-03-31 03002560 2021-03-31 03002560 c:Director2 2021-04-01 2022-03-31 03002560 d:Buildings d:ShortLeaseholdAssets 2021-04-01 2022-03-31 03002560 d:Buildings d:ShortLeaseholdAssets 2022-03-31 03002560 d:Buildings d:ShortLeaseholdAssets 2021-03-31 03002560 d:CurrentFinancialInstruments 2022-03-31 03002560 d:CurrentFinancialInstruments 2021-03-31 03002560 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03002560 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 03002560 d:ShareCapital 2022-03-31 03002560 d:ShareCapital 2021-03-31 03002560 d:RetainedEarningsAccumulatedLosses 2022-03-31 03002560 d:RetainedEarningsAccumulatedLosses 2021-03-31 03002560 c:EntityHasNeverTraded 2021-04-01 2022-03-31 03002560 c:FRS102 2021-04-01 2022-03-31 03002560 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 03002560 c:FullAccounts 2021-04-01 2022-03-31 03002560 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 03002560

CHAPEL INNS LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

CHAPEL INNS LTD

REGISTERED NUMBER: 03002560

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2022

		2022		2021
Note		£		£


Tangible assets	4		-		-
Current assets
Debtors: amounts falling due within one year	5	-		1,039
Creditors: amounts falling due within one year	6	(992)		(750)
Net current (liabilities)/assets			(992)		289
Total assets less current liabilities			(992)		289

Net (liabilities)/assets			(992)		289

Capital and reserves
Called up share capital	1	1
Profit and loss account	(993)	288
	(992)	289

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CHAPEL INNS LTD

REGISTERED NUMBER: 03002560

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2022

For the year ended 31 March 2022 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P Hondrogiannis

Director

Date: 5 August 2022

The notes on pages 3 to 6 form part of these financial statements.

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CHAPEL INNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1.	General information

The company is a private company limited by shares and is incorporated in England.
The address of its registered office is 35 Ballards Lane, London, N3 1XW.
The Company has not traded during the year financial year. During these periods, the Company received no income.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Going concern

At the balance sheet date, the company's liabilities exceeded assets. The financial statements have been prepared on the going concern basis as it is in the opinion of the directors that the company will receive continued support from it's creditors and directors for the foreseeable future.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

S/Term Leasehold Property

10%

Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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CHAPEL INNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

2.4

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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CHAPEL INNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

4.	Tangible fixed assets

		S/Term Leasehold Property
		£

	At 1 April 2021	52,090
	Disposals	(52,090)
	At 31 March 2022	-

	At 1 April 2021	52,090
	Disposals	(52,090)
	At 31 March 2022	-
	Net book value
	At 31 March 2022	-
	At 31 March 2021	-

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CHAPEL INNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Debtors

					2022	2021
					£	£


Other debtors	-	1,039

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Other creditors	192	-
Accruals and deferred income	800	750
	992	750

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