Registered number
09578823
Chloe's Antique Ltd
Filleted Accounts
31 May 2023
Chloe's Antique Ltd
Registered number: 09578823
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 66,759 -
Current assets
Stocks 36,460 28,140
Debtors 4 107,163 137,947
Cash at bank and in hand 1,323 84
144,946 166,171
Creditors: amounts falling due within one year 5 (49,278) (73,326)
Net current assets 95,668 92,845
Total assets less current liabilities 162,427 92,845
Creditors: amounts falling due after more than one year 6 (63,941) -
Net assets 98,486 92,845
Capital and reserves
Called up share capital 200 200
Profit and loss account 98,286 92,645
Shareholders' funds 98,486 92,845
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.
J Kim
Director
Approved by the board on 18 October 2023
Chloe's Antique Ltd
Notes to the Accounts
for the year ended 31 May 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 3
3 Tangible fixed assets
Motor vehicles
£
Cost
Additions 67,890
At 31 May 2023 67,890
Depreciation
Charge for the year 1,131
At 31 May 2023 1,131
Net book value
At 31 May 2023 66,759
4 Debtors 2023 2022
£ £
Trade debtors 83,622 16,886
Other debtors 23,541 121,061
107,163 137,947
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 25,081
Trade creditors 1,040 900
Taxation and social security costs 1,710 2,866
Other creditors 46,528 44,479
49,278 73,326
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 63,941 -
7 Other information
Chloe's Antique Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 41, Chessington Business Centre
37 Cox Lane
Chessington
Surrey
KT9 1SD
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