Registered number
13217433
Chiva Limited
Filleted Accounts
for the year ended 31 March 2023
Chiva Limited
Registered number: 13217433
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 827,949 828,333
Current assets
Cash at bank and in hand 42,446 18,786
Creditors: amounts falling due within one year 4 (869,294) (873,183)
Net current liabilities (826,848) (854,397)
Net assets/(liabilities) 1,101 (26,064)
Capital and reserves
Called up share capital 10 10
Profit and loss account 1,091 (26,074)
Shareholders' funds 1,101 (26,064)
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Iva Hittmair
Director
Approved by the board on 20 September 2023
Chiva Limited
Notes to the Accounts
for the year ended 31 March 2023
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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rented properties.Turnover from the rendering of services is recognised by reference to the stage of completion..
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Nil
Fixtures, fittings, tools and equipment 20% reducing balances
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 826,413 2,400 828,813
At 31 March 2023 826,413 2,400 828,813
Depreciation
At 1 April 2022 - 480 480
Charge for the year - 384 384
At 31 March 2023 - 864 864
Net book value
At 31 March 2023 826,413 1,536 827,949
At 31 March 2022 826,413 1,920 828,333
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 267 -
Director's loan Account 860,693 860,693
Accountancy -Accruals 100 840
Other creditors 8,234 11,650
869,294 873,183
5 Other information
Chiva Limited is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
London
N1 7GU
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