Chesbury Limited 31/03/2021 iXBRL

Chesbury Limited 31/03/2021 iXBRL

CHESBURY LIMITED - Company Information

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Company registration number: 03768342
Chesbury Limited
Unaudited filleted abridged financial statements
31 March 2021
Chesbury Limited
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
Chesbury Limited
Directors and other information
Director Mr A G James
Secretary Mrs E James
Company number 03768342
Registered office 1,Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
Business address 1, Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
Bankers Santander
P O Box 10102
21 Prescott Street
London
E1 8TN
Chesbury Limited
Abridged statement of financial position
31 March 2021
2021 2020
Note £ £ £ £
Current assets
Debtors 647 647
Cash at bank and in hand 559 13
_______ _______
1,206 660
Creditors: amounts falling due
within one year ( 1,043) ( 650)
_______ _______
Net current assets 163 10
_______ _______
Total assets less current liabilities 163 10
_______ _______
Net assets 163 10
_______ _______
Capital and reserves
Called up share capital 4 4
Profit and loss account 159 6
_______ _______
Shareholders funds 163 10
_______ _______
For the year ending 31 March 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 members have 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 11 December 2021 , and are signed on behalf of the board by:
Mr A G James
Director
Company registration number: 03768342
Chesbury Limited
Notes to the financial statements
Year ended 31 March 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 1,Shepperton Marina, Felix Lane, Shepperton, Middlesex, TW17 8NS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
£
Cost
At 1 April 2020 and 31 March 2021 4,167
_______
Depreciation
At 1 April 2020 and 31 March 2021 4,167
_______
Carrying amount
At 31 March 2021 -
_______
At 31 March 2020 -
_______
6. Controlling party
The Company is controlled by the Director A.G James