1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-21 Sage Accounts Production Advanced 2023 - FRS102_2023 453,284 108,284 345,000 93,047 13,985 79,062 265,938 xbrli:pure xbrli:shares iso4217:GBP 13928507 2022-02-21 2023-03-31 13928507 2023-03-31 13928507 2022-02-20 13928507 core:MotorVehicles 2022-02-21 2023-03-31 13928507 bus:Director1 2022-02-21 2023-03-31 13928507 core:MotorVehicles 2023-03-31 13928507 core:WithinOneYear 2023-03-31 13928507 core:ShareCapital 2023-03-31 13928507 core:RetainedEarningsAccumulatedLosses 2023-03-31 13928507 bus:SmallEntities 2022-02-21 2023-03-31 13928507 bus:AuditExemptWithAccountantsReport 2022-02-21 2023-03-31 13928507 bus:SmallCompaniesRegimeForAccounts 2022-02-21 2023-03-31 13928507 bus:PrivateLimitedCompanyLtd 2022-02-21 2023-03-31 13928507 bus:FullAccounts 2022-02-21 2023-03-31 13928507 core:AllAssociates 2022-02-21 2023-03-31
COMPANY REGISTRATION NUMBER: 13928507
Chariot Storage and Logistics Ltd
Filleted Unaudited Financial Statements
31 March 2023
Chariot Storage and Logistics Ltd
Financial Statements
Period from 21 February 2022 to 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Chariot Storage and Logistics Ltd
Statement of Financial Position
31 March 2023
31 Mar 23
Note
£
Fixed assets
Tangible assets
5
265,938
Current assets
Debtors
6
3,159
Cash at bank and in hand
6,868
--------
10,027
Creditors: amounts falling due within one year
7
595,944
---------
Net current liabilities
585,917
---------
Total assets less current liabilities
( 319,979)
---------
Net liabilities
( 319,979)
---------
Capital and reserves
Called up share capital
100
Profit and loss account
( 320,079)
---------
Shareholders deficit
( 319,979)
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Chariot Storage and Logistics Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 3 November 2023 , and are signed on behalf of the board by:
F Englander
Director
Company registration number: 13928507
Chariot Storage and Logistics Ltd
Notes to the Financial Statements
Period from 21 February 2022 to 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 293 Old Street, London, EC1V 9LA, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the directors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Motor vehicles
£
Cost
At 21 February 2022
Additions
453,284
Disposals
( 108,284)
---------
At 31 March 2023
345,000
---------
Depreciation
At 21 February 2022
Charge for the period
93,047
Disposals
( 13,985)
---------
At 31 March 2023
79,062
---------
Carrying amount
At 31 March 2023
265,938
---------
6. Debtors
31 Mar 23
£
Other debtors
3,159
-------
7. Creditors: amounts falling due within one year
31 Mar 23
£
Trade creditors
( 810)
Other creditors
596,754
---------
595,944
---------
8. Related party transactions
At the period end the company owed £186,456 to companies associated by common control.