Registration number:
Chesterfield Capital Ltd
for the Year Ended 28 February 2023
Chesterfield Capital Ltd
Contents
Company Information |
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Accountants' Report |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Chesterfield Capital Ltd
Company Information
Directors |
Mr Geoffrey Dart Mrs Victoria Berensen |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Chesterfield Capital Ltd
for the Year Ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chesterfield Capital Ltd for the year ended 28 February 2023 as set out on pages 3 to 8 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 Chesterfield Capital 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 Chesterfield Capital Ltd and state those matters that we have agreed to state to the Board of Directors of Chesterfield Capital 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 Chesterfield Capital Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Chesterfield Capital 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 Chesterfield Capital Ltd. You consider that Chesterfield Capital 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 Chesterfield Capital 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.
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Chartered Accountants
Salmons Lane
Colchester
Essex
CO6 1RY
Chesterfield Capital Ltd
(Registration number: 07146092)
Abridged Balance Sheet as at 28 February 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
7,262 |
36,826 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10 |
10 |
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Retained earnings |
175,825 |
261,624 |
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Shareholders' funds |
175,835 |
261,634 |
For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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
Chesterfield Capital Ltd
(Registration number: 07146092)
Abridged Balance Sheet as at 28 February 2023
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Chesterfield Capital Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023
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 |
Computer equipment |
33% straight line |
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Chesterfield Capital Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 March 2022 |
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At 28 February 2023 |
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Depreciation |
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At 1 March 2022 |
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At 28 February 2023 |
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Carrying amount |
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At 28 February 2023 |
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At 28 February 2022 |
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Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 March 2022 |
46,826 |
46,826 |
Revaluations |
(11,139) |
(11,139) |
Disposals |
(28,425) |
(28,425) |
At 28 February 2023 |
7,262 |
7,262 |
Impairment |
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Carrying amount |
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At 28 February 2023 |
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7,262 |
Chesterfield Capital Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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10 |
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10 |
Dividends |
2023 |
2022 |
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£ |
£ |
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Interim dividend of £ |
50,000 |
10,000 |
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Related party transactions |
Transactions with directors |
2023 |
At 1 March 2022 |
Advances to director |
Repayments by director |
At 28 February 2023 |
Mr Geoffrey Dart |
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Directors loan account |
( |
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( |
( |
2022 |
At 1 March 2021 |
Advances to director |
Repayments by director |
At 28 February 2022 |
Mr Geoffrey Dart |
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Directors loan account |
( |
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( |
( |
Summary of transactions with parent
The loan between the two companies is interest free and has no repayment terms.
Chesterfield Capital Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023
Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from Companies house