Company registration number 06535572 (England and Wales)
CHINUKA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
CHINUKA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CHINUKA LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
13,543
12,602
Investments
5
6,792
5,396
20,335
17,998
Current assets
Cash at bank and in hand
20,911
20,210
Creditors: amounts falling due within one year
6
(142,754)
(119,670)
Net current liabilities
(121,843)
(99,460)
Net liabilities
(101,508)
(81,462)
Capital and reserves
Called up share capital
7
94,256
94,256
Share premium account
369,083
369,083
Profit and loss reserves
(564,847)
(544,801)
Total equity
(101,508)
(81,462)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 October 2023 and are signed on its behalf by:
Brian Flower
Director
Company registration number 06535572 (England and Wales)
CHINUKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Chinuka Limited is a private company limited by shares incorporated in England and Wales. The registered office is 27 Mortimer Street, London, W1T 3BL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents
over a period of 3 years
1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CHINUKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
CHINUKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
4
Intangible fixed assets
Other
£
Cost
At 1 April 2022
100,977
Additions
15,206
At 31 March 2023
116,183
Amortisation and impairment
At 1 April 2022
88,375
Amortisation charged for the year
14,265
At 31 March 2023
102,640
Carrying amount
At 31 March 2023
13,543
At 31 March 2022
12,602
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
6,792
5,396
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2022
5,396
Valuation changes
1,396
At 31 March 2023
6,792
Carrying amount
At 31 March 2023
6,792
At 31 March 2022
5,396
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
142,754
119,670
CHINUKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
9,425,600 Ordinary Shares of 1p each
94,256
94,256
2023-03-312022-04-01false03 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityBrian FlowerDerek Fray065355722022-04-012023-03-31065355722023-03-31065355722022-03-3106535572core:IntangibleAssetsOtherThanGoodwill2023-03-3106535572core:IntangibleAssetsOtherThanGoodwill2022-03-3106535572core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3106535572core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3106535572core:ShareCapital2023-03-3106535572core:ShareCapital2022-03-3106535572core:SharePremium2023-03-3106535572core:SharePremium2022-03-3106535572core:RetainedEarningsAccumulatedLosses2023-03-3106535572core:RetainedEarningsAccumulatedLosses2022-03-3106535572bus:Director12022-04-012023-03-3106535572core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-31065355722021-04-012022-03-3106535572core:IntangibleAssetsOtherThanGoodwill2022-03-3106535572core:CurrentFinancialInstruments2023-03-3106535572core:CurrentFinancialInstruments2022-03-3106535572bus:PrivateLimitedCompanyLtd2022-04-012023-03-3106535572bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3106535572bus:FRS1022022-04-012023-03-3106535572bus:AuditExemptWithAccountantsReport2022-04-012023-03-3106535572bus:Director22022-04-012023-03-3106535572bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP