Chittak Investments Ltd - Period Ending 2021-09-30

Chittak Investments Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Chittak Investments Ltd

Company Information

Directors

T B Clarke K Clarke

Registered office

70 Malmesbury Park Road Bournemouth Dorset BH8 8PJ

Accountants

Grant Sellers Limited Bank Court Manor Road Verwood Dorset BH31 6DY

Chittak Investments Ltd

(Registration number: 12871155)
Balance Sheet as at 30 September 2021

	Note	2021 £
Fixed assets
Investment property	4	81,883
Current assets
Cash at bank and in hand		847
Creditors: Amounts falling due within one year	5	(30,816)
Net current liabilities		(29,969)
Total assets less current liabilities		51,914
Creditors: Amounts falling due after more than one year	5	(61,699)
Net liabilities		(9,785)
Capital and reserves
Called up share capital	6	100
Retained earnings		(9,885)
Shareholders' deficit		(9,785)

For the financial period ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 September 2022 and signed on its behalf by:
 

......................................... T B Clarke Director

Chittak Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 10 September 2020 to 30 September 2021

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
70 Malmesbury Park Road
Bournemouth
Dorset
BH8 8PJ

These financial statements were authorised for issue by the Board on 9 September 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Chittak Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 10 September 2020 to 30 September 2021 (continued)

2	Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4	Investment properties

	2021 £
Additions	81,883
At 30 September	81,883

There has been no valuation of investment property by an independent valuer. The investment property was in the course of construction.

Chittak Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 10 September 2020 to 30 September 2021 (continued)

5

Creditors

Creditors: amounts falling due within one year

	2021 £
Due within one year
Accruals and deferred income	900
Other creditors	29,916
	30,816

Creditors: amounts falling due after more than one year

	Note	2021 £
Due after one year
Loans and borrowings	7	61,699

6	Share capital

Allotted, called up and fully paid shares

	2021
	No.	£
Ordinary of £50 each	2	100

7	Loans and borrowings

	2021 £
Non-current loans and borrowings
Other borrowings	61,699