CHROME CENTRE LTD - Accounts

CHROME CENTRE LTD - Accounts

CHROME CENTRE LTD - Company Information

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Logo On Report
Reports Dated : 02/12/2022 Registered Number: 10718113
England and Wales

 

 

 

CHROME CENTRE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

CHROME CENTRE LTD
Contents Page
For the year ended 31 March 2022
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
SINGLETREE ACCOUNTANTS
31 March 2022



....................................................
SINGLETREE ACCOUNTANTS
RAINBOW HOUSE,
10-12 LUMINA WAY,
LONDON,
ENFIELD,
EN1 1FS,
02 December 2022
1
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 7,469    9,978 
7,469    9,978 
Current assets      
Stocks 210,000    210,000 
Debtors: amounts falling due within one year 0    318 
Cash at bank and in hand 7,093    5,040 
217,093    215,358 
Creditors: amount falling due within one year (171,494)   (138,007)
Net current assets 45,599    77,351 
 
Total assets less current liabilities 53,068    87,329 
Creditors: amount falling due after more than one year (163,273)   (151,142)
Net liabilities (110,205)   (63,813)
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account (110,305)   (63,913)
Shareholder's funds (110,205)   (63,813)
 


For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 02 December 2022 and were signed by:


--------------------------------
OZCAN OZTURK
Director
2
General Information
CHROME CENTRE LTD is a private company, limited by shares, domiciled in UK England and Wales, registration number 10718113.

The presentation currency is £ pound sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25 Reducing Balance
Computer Equipment 20 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 3 (2021 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 April 2021 12,840    -    12,840 
Additions -    1,249    1,249 
Disposals -    -    - 
At 31 March 2022 12,840    1,249    14,089 
Depreciation
At 01 April 2021 2,862    -    2,862 
Charge for year 3,425    333    3,758 
On disposals -    -    - 
At 31 March 2022 6,287    333    6,620 
Net book values
Closing balance as at 31 March 2022 6,553    916    7,469 
Opening balance as at 01 April 2021 9,978    -    9,978 


4.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2022
£		   2021
£
100 Class A shares of £1.00 each 100    100 
100    100 

3