Chronos Consult Ltd - Accounts to registrar (filleted) - small 22.3

Chronos Consult Ltd - Accounts to registrar (filleted) - small 22.3

CHRONOS CONSULT LTD - Company Information

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REGISTERED NUMBER: 12086906 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Chronos Consult Ltd
Chronos Consult Ltd (Registered number: 12086906)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Balance Sheet 1

Notes to the Financial Statements 3


Chronos Consult Ltd (Registered number: 12086906)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,616 3,603

CURRENT ASSETS
Debtors 5 206,400 179,746
Cash at bank 114,844 107,647
321,244 287,393
CREDITORS
Amounts falling due within one year 6 202,705 220,660
NET CURRENT ASSETS 118,539 66,733
TOTAL ASSETS LESS CURRENT LIABILITIES 122,155 70,336

CREDITORS
Amounts falling due after more than one
year
7
(25,000
)
(35,000
)

PROVISIONS FOR LIABILITIES (687 ) (685 )
NET ASSETS 96,468 34,651

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 96,368 34,551
SHAREHOLDERS' FUNDS 96,468 34,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 notes form part of these financial statements

Page 1 continued...
Chronos Consult Ltd (Registered number: 12086906)

Balance Sheet - continued
31 December 2022


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2023 and were signed on its behalf by:




Mr Matthew Patrick Lindsay - Director



Mr Timothy John Marlow - Director


The notes form part of these financial statements

Page 2
Chronos Consult Ltd (Registered number: 12086906)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Chronos Consult Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12086906

Registered office: Ebenezer House
Ryecroft
Newcastle-Under-Lyme
Staffordshire
ST5 2BE

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


Page 3 continued...
Chronos Consult Ltd (Registered number: 12086906)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2022 88 7,496 7,584
Additions - 2,538 2,538
At 31 December 2022 88 10,034 10,122
DEPRECIATION
At 1 January 2022 44 3,937 3,981
Charge for year 17 2,508 2,525
At 31 December 2022 61 6,445 6,506
NET BOOK VALUE
At 31 December 2022 27 3,589 3,616
At 31 December 2021 44 3,559 3,603

Page 4 continued...
Chronos Consult Ltd (Registered number: 12086906)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 203,868 147,138
Other debtors 2,532 32,608
206,400 179,746

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 59,182 118,439
Taxation and social security 52,845 21,494
Other creditors 80,678 70,727
202,705 220,660

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 25,000 35,000

Page 5