Chorusline Limited - Accounts to registrar (filleted) - small 23.1.2
Chorusline Limited - Accounts to registrar (filleted) - small 23.1.2
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
CHORUSLINE LIMITED |
CHORUSLINE LIMITED (REGISTERED NUMBER: 01969833) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
CHORUSLINE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
CHORUSLINE LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chorusline Limited for the year ended 31 August 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Chorusline Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chorusline Limited and state those matters that we have agreed to state to the Board of Directors of Chorusline Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chorusline Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Chorusline Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chorusline Limited. You consider that Chorusline Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Chorusline Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
CHORUSLINE LIMITED (REGISTERED NUMBER: 01969833) |
BALANCE SHEET |
31 AUGUST 2022 |
31/8/22 | 31/8/21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
CHORUSLINE LIMITED (REGISTERED NUMBER: 01969833) |
BALANCE SHEET - continued |
31 AUGUST 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CHORUSLINE LIMITED (REGISTERED NUMBER: 01969833) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
1. | STATUTORY INFORMATION |
Chorusline Limited is a |
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". The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
Turnover |
Turnover represents sales of gift and souvenir products, excluding value added tax. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Long Leasehold - Straight line over 15 years |
Fixtures and fittings - 20% on Reducing balance |
Motor Vehicles - 20% on 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. |
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. |
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. |
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. |
CHORUSLINE LIMITED (REGISTERED NUMBER: 01969833) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
2. | ACCOUNTING POLICIES - continued |
Fixed asset investments |
Listed investments are stated at market value. Any changes in the market value of the investment is reported as fair value gain/loss in the profit and loss account. |
Operating lease commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 September 2021 |
Impairments |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
As at 31 August 2020, the market value of the listed investments was £3,687. |
6. | STOCKS |
31/8/22 | 31/8/21 |
£ | £ |
Stocks |
CHORUSLINE LIMITED (REGISTERED NUMBER: 01969833) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/22 | 31/8/21 |
£ | £ |
Bank loans |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 16,653 | 17,285 |
Other creditors |
Wages control | 23,624 | 16,401 |
Pension control | 282 | 341 |
Directors' current accounts | 3,411 | 9,804 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/8/22 | 31/8/21 |
£ | £ |
Bank loans - 1-2 years | 14,545 | 14,545 |
Bank loans - 2-5 years | 26,667 | 41,213 |
Hire purchase contracts |
Included within other loan is Coronavirus Business Interruption Loan (CBIL) of £80,000. The loan is repayable in 6 years with the rate of interest being 3.24% above base rate starting 13 months after the first drawdown. Interest due for first 12 months is paid by the UK government as grant also known as business interruption payment . |
HP Loan from Volkswagen Financial Services during the year £23,365 paid by 48 monthly rentals of £355.00 starting one month from the date of Signature. |
9. | PROVISIONS FOR LIABILITIES |
31/8/22 | 31/8/21 |
£ | £ |
Deferred tax | 14,963 | 17,422 |
Deferred tax |
£ |
Balance at 1 September 2021 |
Provided during year | ( |
) |
Accelerated capital allowance |
Balance at 31 August 2022 |
CHORUSLINE LIMITED (REGISTERED NUMBER: 01969833) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/8/22 | 31/8/21 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year, the company paid Nil (2020 - £14,000) dividends to the directors. |
12. | ULTIMATE CONTROLLING PARTY |
The directors are the ultimate controller as they hold all the issued share capital of the company. |