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Registration number: 06693726

Chittak Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Chittak Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Chittak Limited

Company Information

Director

T B Clarke

Company secretary

K Clarke

Registered office

20 Cox Avenue
Bournemouth
Dorset
BH9 3LY

Accountants

Grant Sellers Limited
Bank Court
Manor Road
Verwood
Dorset
BH31 6DY

 

Chittak Limited

(Registration number: 06693726)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

26,931

15,954

Cash at bank and in hand

 

132

35,568

 

27,063

51,522

Creditors: Amounts falling due within one year

6

(10,294)

(11,773)

Total assets less current liabilities

 

16,769

39,749

Creditors: Amounts falling due after more than one year

6

(6,450)

(8,918)

Net assets

 

10,319

30,831

Capital and reserves

 

Called up share capital

100

100

Retained earnings

10,219

30,731

Shareholders' funds

 

10,319

30,831

For the financial year ending 31 March 2023 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 September 2023
 

.........................................
T B Clarke
Director

 

Chittak Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
20 Cox Avenue
Bournemouth
Dorset
BH9 3LY

These financial statements were authorised for issue by the director on 26 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The accounts are prepared in pound sterling and rounded to the nearest £1.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Chittak Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

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

Plant and machinery

25% straight line basis

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Chittak Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

4

Tangible assets

Plant and machinery etc
£

Total
£

Cost or valuation

At 1 April 2022

13,457

13,457

At 31 March 2023

13,457

13,457

Depreciation

At 1 April 2022

13,457

13,457

At 31 March 2023

13,457

13,457

Carrying amount

At 31 March 2023

-

-

5

Debtors

Current

2023
£

2022
£

Trade debtors

12,785

15,954

Other debtors

14,146

-

 

26,931

15,954

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

2,866

2,404

Trade creditors

 

1,203

931

Taxation and social security

 

5,343

5,929

Accruals and deferred income

 

675

1,080

Other creditors

 

207

1,429

 

10,294

11,773

 

Chittak Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

6,450

8,918

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

6,450

8,918

2023
£

2022
£

Current loans and borrowings

Bank borrowings

2,468

2,404

Bank overdrafts

398

-

2,866

2,404

8

Dividends

The dividend voted on 21 April 2022 was a legal dividend as it was based on interim accounts which showed there were sufficient profits available for distribution at the time the dividend was paid.

9

Related party transactions

Transactions with the director

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Directors

-

11,570

11,570