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Registration number: 10657629

Chalk International Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

image-name
 

Chalk International Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Chalk International Ltd

Company Information

Directors

Mr Timothy Chalk

Mrs Jacqueline Chalk

Registered office

43 West Street
Chipping Norton
OX7 5EU

Accountants

Integer
Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Chalk International Ltd
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chalk International Ltd for the year ended 31 March 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Chalk International Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Chalk International Ltd and state those matters that we have agreed to state to the Board of Directors of Chalk International Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chalk International Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Chalk International Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Chalk International Ltd. You consider that Chalk International Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Chalk International Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Integer
Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

16 November 2023

 

Chalk International Ltd

(Registration number: 10657629)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,552

3,904

Current assets

 

Debtors

-

4,822

Cash at bank and in hand

 

60,973

60,191

 

60,973

65,013

Creditors: Amounts falling due within one year

(792)

(4,706)

Net current assets

 

60,181

60,307

Total assets less current liabilities

 

62,733

64,211

Accruals and deferred income

 

(1,000)

(1,000)

Net assets

 

61,733

63,211

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

61,633

63,111

Shareholders' funds

 

61,733

63,211

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.

Directors' 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 directors acknowledge 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................
Mr Timothy Chalk
Director

 

Chalk International Ltd

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

1

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

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

Office equipment

Straight line, 3 years

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 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.

 

Chalk International Ltd

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

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.

2

Staff numbers

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

3

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,352

150

 

Chalk International Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

4,054

4,054

At 31 March 2023

4,054

4,054

Depreciation

At 1 April 2022

150

150

Charge for the year

1,352

1,352

At 31 March 2023

1,502

1,502

Carrying amount

At 31 March 2023

2,552

2,552

At 31 March 2022

3,904

3,904

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

6

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £Nil (2022 - £12.00) per ordinary share

 

-

 

1,200

         
 

Chalk International Ltd

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

7

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr Timothy Chalk

Directors Loan

(2,765)

2,765

(792)

(792)

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Mr Timothy Chalk

Directors Loan

(1,515)

1,515

(2,765)

(2,765)