| CHOSEN PEOPLE LIMITED |
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| ABBREVIATED BALANCE SHEET |
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| as at 30 November 2016 |
| Company Registration No. |
09301214 |
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| Notes |
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2016 |
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2015 |
| £ |
£ |
| Current assets |
| Debtors |
3,133 |
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981 |
| Cash at bank and in hand |
2,440 |
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852 |
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5,573 |
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1,833 |
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| Creditors: amounts falling due within one year |
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(12,723) |
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(8,352) |
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| Net current liabilities |
(7,150) |
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(6,519) |
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| Net liabilities |
(7,150) |
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(6,519) |
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| Capital and reserves |
| Called up share capital |
2 |
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2 |
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2 |
| Profit and loss account |
(7,152) |
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(6,521) |
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| Shareholders' funds |
(7,150) |
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(6,519) |
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| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
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| Directors' responsibilities: |
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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; |
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The directors acknowledge their responsibilities for complying with the requirements of the act with respect to accounting records and the preparation of financial statements. |
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| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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| Approved by the board on 21 July 2017 |
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| ……………………………………… |
| Marc Lee Fineman |
| Director |
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| CHOSEN PEOPLE LIMITED |
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| NOTES TO THE ABBREVIATED ACCOUNTS |
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| FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Going concern |
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The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
The validity of this assumption depends on the company being able to trade profitably in the future and the continued support of the company's director who is also a shareholder. The financial statements do not include any adjustments that would result if the company continued to make losses and such support were withdrawn. If the company was unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amounts, provide for further liabilities that may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities. The shareholder and director has expressed their willingness to continue supporting the company for the foreseeable future and hence it is appropriate for the financial statements to be prepared on a going concern basis. |
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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| 2 |
Share capital |
Nominal |
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2016 |
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2016 |
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2015 |
| value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares |
£1 each |
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2 |
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2 |
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2 |
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