Chalk Circle Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07224828 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

FOR

CHALK CIRCLE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Leipnik

REGISTERED OFFICE:

4 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EE

REGISTERED NUMBER:

07224828 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

4 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EE

FIXED ASSETS

Tangible assets

4

72

108

CURRENT ASSETS

Debtors

5

851

Cash in hand

18

13

869

864

CREDITORS

Amounts falling due within one year

6

18,505

14,901

NET CURRENT LIABILITIES

(17,636

)

(14,037

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(17,564

)

(13,929

)

CAPITAL AND RESERVES

Called up share capital

7

900

Retained earnings

8

(18,464

)

(14,829

)

SHAREHOLDERS' FUNDS

(17,564

)

(13,929

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 January 2022 and were signed by:

M Leipnik - Director

1.	STATUTORY INFORMATION

Chalk Circle Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer equipment

33% on Cost

Fixtures, fittings & equipments

25% on Reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that he considers that the going concern basis remains appropriate. The director believes that the company has sufficient resources to continue in operational existence for the foreseeable future. The director believes this to be the case as the company has the support of the director and no significant long term liabilities. The company's main liability is the amount due to the Director and the Director has no plans to call in the loan.

Whilst the Director of mindful of the Covid 19 pandemic, trade had already been put on hold whilst the Director pursues other areas and the company did not trade during the year. The director is intending to return to full operations in the future.

Thus he continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic

of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);

- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;

- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;

- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

Debtors

Short term debtors are measured at transaction price less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Cash and Equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with significant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 May 2020

and 30 April 2021

192

646

838

DEPRECIATION

At 1 May 2020

84

646

730

Charge for year

36

-

36

At 30 April 2021

120

646

766

NET BOOK VALUE

At 30 April 2021

72

-

72

At 30 April 2020

108

-

108

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Tax

851

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Directors' loan accounts

17,205

13,651

Accruals and deferred income

1,300

1,250

18,505

14,901

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

900

Ordinary

£1

900

8.

RESERVES

Retained

earnings

£

At 1 May 2020

(14,829

)

Deficit for the year

(3,635

)

At 30 April 2021

(18,464

)

Chalk Circle Limited - Accounts to registrar (filleted) - small 18.2

Chalk Circle Limited - Accounts to registrar (filleted) - small 18.2