Chapter III Limited - Period Ending 2017-03-31

Registration number: 07963958

Chapter III Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Josephs Chartered Accountants
635B Roundhay Road
Leeds
West Yorkshire
LS8 4BA

Chapter III Limited

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Profit and Loss Account	4
Balance Sheet	5
Notes to the Financial Statements	6 to 7

Chapter III Limited

Company Information

Director

Mr Bruce Hartley

Registered office

635B Roundhay Road Leeds West Yorkshire LS8 4BA

Accountants

Josephs Chartered Accountants 635B Roundhay Road Leeds West Yorkshire LS8 4BA

Page 1

Chapter III Limited

Director's Report for the Year Ended 31 March 2017

The director presents his report and the financial statements for the year ended 31 March 2017.

Director of the company

The director who held office during the year was as follows:

Mr Bruce Hartley

Principal activity

The principal activity of the company is that of information technology consultancy activities.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 16 August 2017 and signed on its behalf by:

Mr Bruce Hartley
Director

Page 2

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Chapter III Limited
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chapter III Limited for the year ended 31 March 2017 as set out on pages 4 to 7 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Chapter III Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Chapter III Limited and state those matters that we have agreed to state to the Board of Directors of Chapter III Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chapter III Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Chapter III Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Chapter III Limited. You consider that Chapter III 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 accounts of Chapter III 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 accounts.

Josephs Chartered Accountants
635B Roundhay Road
Leeds
West Yorkshire
LS8 4BA

16 August 2017

Page 3

Chapter III Limited

Profit and Loss Account for the Year Ended 31 March 2017

	Note	Total 31 March 2017 £	Total 31 March 2016 £
Turnover		12,564	4,058
Administrative expenses		(2,083)	(2,484)
Operating profit		10,481	1,574
Other interest receivable and similar income		4	4
		4	4
Profit before tax	2	10,485	1,578
Taxation		(1,805)	-
Profit for the financial year		8,680	1,578

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 6 to 7 form an integral part of these financial statements.

Page 4

Chapter III Limited

(Registration number: 07963958)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	3	1,604	1,528
Current assets
Debtors	4	-	284
Cash at bank and in hand		15,790	10,214
		15,790	10,498
Creditors: Amounts falling due within one year	5	(4,589)	(2,901)
Net current assets		11,201	7,597
Net assets		12,805	9,125
Capital and reserves
Called up share capital		1	1
Profit and loss account		12,804	9,124
Total equity		12,805	9,125

For the financial year ending 31 March 2017 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 16 August 2017
 

 

Mr Bruce Hartley

Director

The notes on pages 6 to 7 form an integral part of these financial statements.

Page 5

Chapter III Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% Straight line

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2	Profit before tax

Arrived at after charging/(crediting)

	2017 £	2016 £
Depreciation expense	704	509

Page 6

Chapter III Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

3	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2016	2,038	2,038
Additions	779	779
At 31 March 2017	2,817	2,817
Depreciation
At 1 April 2016	510	510
Charge for the year	703	703
At 31 March 2017	1,213	1,213
Carrying amount
At 31 March 2017	1,604	1,604
At 31 March 2016	1,528	1,528

4

Debtors

	2017 £	2016 £
Other debtors	-	284
Total current trade and other debtors	-	284

5

Creditors

	2017 £	2016 £
Due within one year
Director's current account	2,768	2,325
Other creditors and accruals	1,821	576
	4,589	2,901

Page 7