Chess Property Services Ltd Filleted accounts for Companies House (small and micro)

Chess Property Services Ltd Filleted accounts for Companies House (small and micro)

CHESS PROPERTY SERVICES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 10725820
CHESS PROPERTY SERVICES LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2021
CHESS PROPERTY SERVICES LTD
STATEMENT OF FINANCIAL POSITION
30 April 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
5
4,956
2,758
Current assets
Stocks
10,070
4,300
Debtors
6
26,074
8,880
Cash at bank and in hand
22,484
33,207
--------
--------
58,628
46,387
Creditors: amounts falling due within one year
7
37,957
28,077
--------
--------
Net current assets
20,671
18,310
--------
--------
Total assets less current liabilities
25,627
21,068
Creditors: amounts falling due after more than one year
8
25,000
–
--------
--------
Net assets
627
21,068
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
527
20,968
----
--------
Shareholder funds
627
21,068
----
--------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CHESS PROPERTY SERVICES LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2021
These financial statements were approved by the board of directors and authorised for issue on 29 April 2022 , and are signed on behalf of the board by:
M/s J D Hankins
Director
Company registration number: 10725820
CHESS PROPERTY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Winnington House, 2 Woodberry Grove, North Finchley, London, N12 0DR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents amounts receivable for services net of VAT provided in the normal course of business. The company recognises revenue on the completion of services.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Government grants
During the period the company benefited from government grants in the form of the Coronavirus Job Retention Scheme.In accordance with the accounting policy the grant credits are included in other income within the Income statement.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Tangible assets
Plant and machinery
£
Cost
At 1 May 2020
5,172
Additions
3,850
-------
At 30 April 2021
9,022
-------
Depreciation
At 1 May 2020
2,414
Charge for the year
1,652
-------
At 30 April 2021
4,066
-------
Carrying amount
At 30 April 2021
4,956
-------
At 30 April 2020
2,758
-------
6. Debtors
2021
2020
£
£
Trade debtors
18,660
–
Other debtors
7,414
8,880
--------
-------
26,074
8,880
--------
-------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
5,000
–
Trade creditors
4,266
6,342
Corporation tax
1,504
4,805
Social security and other taxes
23,802
13,686
Other creditors
3,385
3,244
--------
--------
37,957
28,077
--------
--------
8. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
25,000
–
--------
----
The total bank loan outstanding as at the year end is £30,000.The loan is repayable over 5 years from 7 June 2021 and the interest charged is 2.5%.
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
M/s J D Hankins
7,511
2,040
( 5,000)
4,551
-------
-------
-------
-------
2020
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
M/s J D Hankins
( 569)
8,080
–
7,511
----
-------
----
-------
Interest was charged on the advance at the rate of 3.25%.