Registered number
02700643
Chiasma Limited
Filleted Accounts
30 April 2023
Chiasma Limited
Registered number: 02700643
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 416,342 433,040
Current assets
Stocks 713,625 704,430
Debtors 5 54,607 47,573
Cash at bank and in hand 15,790 31,871
784,022 783,874
Creditors: amounts falling due within one year 6 (426,035) (467,229)
Net current assets 357,987 316,645
Total assets less current liabilities 774,329 749,685
Creditors: amounts falling due after more than one year 7 (151,457) (211,053)
Net assets 622,872 538,632
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 621,872 537,632
Shareholders' funds 622,872 538,632
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.
Mr R Walker
Director
Approved by the board on 29 August 2023
Chiasma Limited
Notes to the Accounts
for the year ended 30 April 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 and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 over 50 years
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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 5 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2022 2,000
At 30 April 2023 2,000
Amortisation
At 1 May 2022 2,000
At 30 April 2023 2,000
Net book value
At 30 April 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2022 694,326 57,467 24,167 775,960
At 30 April 2023 694,326 57,467 24,167 775,960
Depreciation
At 1 May 2022 272,529 56,418 13,973 342,920
Charge for the year 13,886 262 2,550 16,698
At 30 April 2023 286,415 56,680 16,523 359,618
Net book value
At 30 April 2023 407,911 787 7,644 416,342
At 30 April 2022 421,797 1,049 10,194 433,040
5 Debtors 2023 2022
£ £
Trade debtors 48,458 42,120
Other debtors 6,149 5,453
54,607 47,573
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 201,325 201,325
Trade creditors 12,148 8,106
Taxation and social security costs 42,997 33,283
Other creditors 169,565 224,515
426,035 467,229
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 151,457 211,053
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 114,500 114,500
9 Other information
Chiasma Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Willway Street
Bristol
BS3 4BG
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