Chaney & Chaney Limited
Chaney & Chaney Limited
Registered number: 10469956
Unaudited Financial Statements
For the Period 9 November 2016 to 30 November 2017
TONY R J ELSDON FCCA
Chartered Certified Accountant
31 Wildcroft Drive
North Holmwood
Dorking
Surrey
RH5 4TL
Chaney & Chaney Limited
Unaudited Financial Statements
For the Period 9 November 2016 to 30 November 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Accountant's Report | 1 |
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—5 |
Chaney & Chaney Limited
Accountant's Report
For the Period 9 November 2016 to 30 November 2017
Accountant's Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at period ended 30 November 2017 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
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Chartered Certified Accountant
31 Wildcroft Drive
North Holmwood
Dorking
Surrey
RH5 4TL
Page 1
Chaney & Chaney Limited
Balance Sheet
As at
30 November 2017
Balance Sheet
Registered number:
10469956
For the period ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| Period to 30 November 2017 | |||
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| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible Assets | 2 |
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| CURRENT ASSETS | |||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||
| Called up share capital | 5 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (10,512) | ||
Page 2
Chaney & Chaney Limited
Balance Sheet (continued)
As at
30 November 2017
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 4 to 5 form part of these financial statements.
Page 3
Chaney & Chaney Limited
Notes to the Financial Statements
For the Period 9 November 2016 to 30 November 2017
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Fixtures & Fittings |
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2.
Tangible Assets
| Land & Property | |||
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| Leasehold | Fixtures & Fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| As at |
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| Depreciation | |||
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| Provided during the period |
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| As at |
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| Net Book Value | |||
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3.
Debtors
| Period to 30 November 2017 | |
|---|---|
| £ | |
| Due within one year | |
| Prepayments and accrued income |
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Page 4
Chaney & Chaney Limited
Notes to the Financial Statements (continued)
For the Period 9 November 2016 to 30 November 2017
4.
Creditors: Amounts Falling Due Within One Year
| Period to 30 November 2017 | |
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| £ | |
| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to related parties |
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6.
Related Party Transactions
During the year the company received a loan jointly from the directors, Mr S C Chaney and Mrs C J Chaney in the sum of £100,000. At 30 November 2017 the balance owed to the directors was £99,900 and is included in the Balance Sheet under creditors due to be repaid with the next twelve months.
During the year the company received a loan of £250,000 from Plus 4 Audio Limited, a company incorporated in England & Wales. The directors, Mr S C Chaney and Mrs C J Chaney, are both directors and shareholders in Plus 4 Audio Limited. The loan was outstanding as at 30 November 2017 and is included in the Balance Sheet under creditors due to be repaid with the next twelve months.
7.
General Information
Chaney & Chaney Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10469956 . The registered office is 27/28 Eastcastle Street, London, W1W 8DH.
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