Chartwell Consulting Limited Filleted accounts for Companies House (small and micro)

CHARTWELL CONSULTING LIMITED - Company Information

34 28 March 2024 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 966,318 966,318 966,318 xbrli:pure xbrli:shares iso4217:GBP 08352509 2022-04-01 2023-03-31 08352509 2023-03-31 08352509 2022-03-31 08352509 2021-04-01 2022-03-31 08352509 2022-03-31 08352509 2021-03-31 08352509 bus:Director4 2022-04-01 2023-03-31 08352509 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-04-01 2023-03-31 08352509 core:WithinOneYear 2023-03-31 08352509 core:WithinOneYear 2022-03-31 08352509 core:AfterOneYear 2023-03-31 08352509 core:ShareCapital 2023-03-31 08352509 core:ShareCapital 2022-03-31 08352509 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 08352509 bus:SmallEntities 2022-04-01 2023-03-31 08352509 bus:Audited 2022-04-01 2023-03-31 08352509 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08352509 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08352509 bus:FullAccounts 2022-04-01 2023-03-31

COMPANY REGISTRATION NUMBER: 08352509

Chartwell Consulting Limited

Filleted Financial Statements

31 March 2023

Chartwell Consulting Limited

Financial Statements

Year ended 31 March 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Chartwell Consulting Limited

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Intangible assets	5		966,318	–

Current assets

Debtors	6	9,312,204	7,806,506
Cash at bank and in hand		377,346	167,578
		------------	------------
		9,689,550	7,974,084

Creditors: amounts falling due within one year	7	9,855,865		7,974,081
		------------		------------
Net current (liabilities)/assets			( 166,315)	3
			---------	----
Total assets less current liabilities			800,003	3

Creditors: amounts falling due after more than one year	8	800,000	–
		---------	----
Net assets		3	3
		---------	----

Capital and reserves

Called up share capital	3	3
	----	----
Shareholders funds	3	3
	----	----

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:

Mrs H L Standing

Director

Company registration number: 08352509

Chartwell Consulting Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 78 York Street, London, W1H 1DP, England.

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, 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.

Going concern

The accounts have been prepared on a going concern basis which relies upon the continuing support of the group companies.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 34 (2022: 30 ).

5. Intangible assets

	Development costs
	£
Cost
Additions	966,318
	---------
At 31 March 2023	966,318
	---------
Amortisation
At 1 April 2022 and 31 March 2023	–
	---------
Carrying amount
At 31 March 2023	966,318
	---------
At 31 March 2022	–
	---------

6. Debtors

	2023	2022
	£	£
Trade debtors	1,756,048	1,483,263
Amounts owed by group undertakings and undertakings in which the company has a participating interest	7,246,047	6,198,318
Other debtors	310,109	124,925
	------------	------------
	9,312,204	7,806,506
	------------	------------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	1,565,049	365,427
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7,087,656	6,076,557
Corporation tax	–	415,112
Social security and other taxes	122,351	130,325
Other creditors	1,080,809	986,660
	------------	------------
	9,855,865	7,974,081
	------------	------------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	800,000	–
	---------	----

9. Summary audit opinion

The auditor's report dated 28 March 2024 was unqualified , however, the auditor drew attention to the following by way of emphasis.

The financial statements of Chartwell Consulting Limited for the year ended 31 March 2022 were not audited.

The senior statutory auditor was Thomas Saltmer , for and on behalf of Burgess Hodgson LLP .

10. Controlling party

The company is a group undertaking of Chartwell Consulting International LLP, an LLP registered in England and Wales. The directors of the company are members of Chartwell Consulting International LLP. The company is ultimately controlled by the directors. The registered office address of the ultimate parent undertaking is 78 York Street, London, England, W1H 1DP.