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Company registration number: 09567045
Chargrilled Clothing Limited
Unaudited filleted financial statements
30 April 2023
Chargrilled Clothing Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Chargrilled Clothing Limited
Directors and other information
Directors N Davis
P Walker
Company number 09567045
Registered office Unit 70 Burners Lane
Kiln Farm
Milton Keynes
MK11 3HD
Accountants Simpson Accountants Limited
5 Border Lane
Buckingham
MK18 7SE
Chargrilled Clothing Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Chargrilled Clothing Limited
Year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chargrilled Clothing Limited for the year ended 30 April 2023 which comprise the statement of financial position and related notes 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 /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Chargrilled Clothing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Chargrilled Clothing Limited and state those matters that we have agreed to state to the board of directors of Chargrilled Clothing Limited 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 Chargrilled Clothing Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Chargrilled Clothing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chargrilled Clothing Limited. You consider that Chargrilled Clothing Limited 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 financial statements of Chargrilled Clothing Limited. 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 financial statements.
Simpson Accountants Limited
Chartered Accountants
5 Border Lane
Buckingham
MK18 7SE
20 November 2023
Chargrilled Clothing Limited
Statement of financial position
30 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 2,200 3,300
_______ _______
2,200 3,300
Current assets
Debtors 6 16,660 6,147
Cash at bank and in hand 43,778 56,228
_______ _______
60,438 62,375
Creditors: amounts falling due
within one year 7 ( 12,686) ( 9,680)
_______ _______
Net current assets 47,752 52,695
_______ _______
Total assets less current liabilities 49,952 55,995
Creditors: amounts falling due
after more than one year 8 - ( 10,479)
_______ _______
Net assets 49,952 45,516
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 49,950 45,514
_______ _______
Shareholders funds 49,952 45,516
_______ _______
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 20 November 2023 , and are signed on behalf of the board by:
P Walker
Director
Company registration number: 09567045
Chargrilled Clothing Limited
Notes to the financial statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 70 Burners Lane, Kiln Farm, Milton Keynes, MK11 3HD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intellectual property - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Intangible assets
Goodwill Other intangible assets Total
£ £ £
Cost
At 1 May 2022 and 30 April 2023 88,999 11,000 99,999
_______ _______ _______
Amortisation
At 1 May 2022 88,999 7,700 96,699
Charge for the year - 1,100 1,100
_______ _______ _______
At 30 April 2023 88,999 8,800 97,799
_______ _______ _______
Carrying amount
At 30 April 2023 - 2,200 2,200
_______ _______ _______
At 30 April 2022 - 3,300 3,300
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 4,260 5,459
Other debtors 12,400 688
_______ _______
16,660 6,147
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 467 -
Social security and other taxes 4,889 -
Other creditors 7,330 9,680
_______ _______
12,686 9,680
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Amounts owed to associates - 10,479
_______ _______