Chimeric Industries Ltd 08451978 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the provision of information technology consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 08451978 2022-04-01 2023-03-31 08451978 2023-03-31 08451978 bus:Revised 2023-03-31 08451978 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-03-31 08451978 core:CurrentFinancialInstruments 2023-03-31 08451978 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08451978 core:OtherPropertyPlantEquipment 2023-03-31 08451978 bus:SmallEntities 2022-04-01 2023-03-31 08451978 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08451978 bus:FullAccounts 2022-04-01 2023-03-31 08451978 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08451978 bus:RegisteredOffice 2022-04-01 2023-03-31 08451978 bus:Director1 2022-04-01 2023-03-31 08451978 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08451978 1 2022-04-01 2023-03-31 08451978 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 08451978 core:PlantMachinery 2022-04-01 2023-03-31 08451978 countries:EnglandWales 2022-04-01 2023-03-31 08451978 2022-03-31 08451978 core:OtherPropertyPlantEquipment 2022-03-31 08451978 2021-04-01 2022-03-31 08451978 2022-03-31 08451978 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2022-03-31 08451978 core:CurrentFinancialInstruments 2022-03-31 08451978 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 08451978 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 08451978

Chimeric Industries Ltd
(formerly Postinternet Ltd)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Chimeric Industries Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Chimeric Industries Ltd

Company Information

Director

Ben Vickers

Registered office

110 Southgate Road
London
N1 3HY

Accountants

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

Chimeric Industries Ltd

(Registration number: 08451978)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,418

6,009

Other investments

5

2,552

1,766

 

6,970

7,775

Current assets

 

Debtors

6

19,955

20,999

Investments

7

15,660

44,745

Cash at bank and in hand

 

133,538

161,677

 

169,153

227,421

Creditors: Amounts falling due within one year

8

(16,438)

(7,303)

Net current assets

 

152,715

220,118

Total assets less current liabilities

 

159,685

227,893

Provisions for liabilities

(839)

(1,142)

Net assets

 

158,846

226,751

Capital and reserves

 

Called up share capital

9

1

1

Other reserves

785

-

Retained earnings

158,060

226,750

Shareholders' funds

 

158,846

226,751

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 their 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 November 2023
 

 

Chimeric Industries Ltd

(Registration number: 08451978)
Balance Sheet as at 31 March 2023

.........................................
Ben Vickers
Director

 

Chimeric Industries Ltd

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 company was formerly known as Postinternet Ltd.

The address of its registered office is:
110 Southgate Road
London
N1 3HY

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

 

Chimeric Industries Ltd

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

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

33% Reducing balance method

Investments

Investments includes investments in cryptocurrency (token). The carrying amount of the investment is measured at fair value through profit or loss, and changes in fair value are recognised in the statement of profit and loss.

Other investments include investments in precious metal. The carrying amount of the investment is measured at fair value through profit or loss, and changes in fair value are recognised in the statement of profit and loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Chimeric Industries Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Chimeric Industries Ltd

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

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

20,558

20,558

Additions

585

585

At 31 March 2023

21,143

21,143

Depreciation

At 1 April 2022

14,549

14,549

Charge for the year

2,176

2,176

At 31 March 2023

16,725

16,725

Carrying amount

At 31 March 2023

4,418

4,418

At 31 March 2022

6,009

6,009

5

Other assets

2023
£

2022
£

Non-current assets

Other investments

2,552

1,766

6

Debtors

Current

2023
£

2022
£

Trade debtors

14,954

-

Other debtors

5,001

20,999

 

19,955

20,999

7

Current asset investments

2023
£

2022
£

Other investments

15,660

44,745

Other investments includes investments in cryptocurrency (token) which are very volatile. The carrying amount of the investment is measured at fair value through profit or loss, and changes in fair value are recognised in the
statement of profit and loss.

 

Chimeric Industries Ltd

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

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

3,497

5,503

Accruals and deferred income

1,980

1,800

Other creditors

10,961

-

16,438

7,303

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share capital of £1 each

1

1

1

1