CHORES LIMITED
Registered number: SC241972
Balance Sheet
as at 31 January 2022
Notes 2022 2021
£ £
Current assets
Debtors 3 2,119 416
Cash at bank and in hand 4,677 1,751
6,796 2,167
Creditors: amounts falling due within one year 4 (2,920) (988)
Net current assets 3,876 1,179
Net assets 3,876 1,179
Capital and reserves
Called up share capital 10 10
Profit and loss account 3,866 1,169
Shareholders' funds 3,876 1,179
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Anne H Shields
Director
Approved by the board on 13 July 2022
CHORES LIMITED
Notes to the Accounts
for the year ended 31 January 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 6 6
3 Debtors 2022 2021
£ £
Trade debtors 2,119 416
4 Creditors: amounts falling due within one year 2022 2021
£ £
Corporation tax 1,402 -
Director's loan account 483 33
Accruals 1,035 954
Other creditors - 1
2,920 988
5 Related party disclosures
The director has given a loan to the company, the balance of which is as stated at Note 4, which will be repaid when the company has sufficient funds to repay without affecting cash flow of the company.
Dividends, if paid, per the Statement of Changes in Equity, were paid to Mrs Anne Shields.
6 Controlling party
The ultimate controlling party is the director, Mrs Anne Shields, who holds 100% of the called up share capital.
7 Other information
CHORES LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
11 Low Barholm
Kilbarchan
Renfrewshire
PA10 2ES
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