2022-04-012023-03-312023-03-31false01972126CHRYSALIS CLOTHES 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CHRYSALIS CLOTHES LIMITED

Registered Number
01972126
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

CHRYSALIS CLOTHES LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

ASPREY, Lusinda Jane
ASPREY, William Rolls
BLACKMORE, Christopher James
HICKS, John George

Registered Address

York House
1 Seagrave Road
London
SW6 1RP

Registered Number

01972126 (England and Wales)
CHRYSALIS CLOTHES LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6314,373316,213
314,373316,213
Current assets
Stocks7679,641454,654
Debtors8113,701135,127
Cash at bank and on hand67,449252,697
860,791842,478
Creditors amounts falling due within one year9(182,344)(146,783)
Net current assets (liabilities)678,447695,695
Total assets less current liabilities992,8201,011,908
Creditors amounts falling due after one year10(442,716)(442,716)
Provisions for liabilities11(1,140)(1,315)
Net assets548,964567,877
Capital and reserves
Called up share capital5050
Revaluation reserve175,000175,000
Profit and loss account373,914392,827
Shareholders' funds548,964567,877
The financial statements were approved and authorised for issue by the Board of Directors on 25 October 2023, and are signed on its behalf by:
ASPREY, William Rolls
Director
BLACKMORE, Christopher James
Director

Registered Company No. 01972126
CHRYSALIS CLOTHES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company during the year has been the manufacture and supply of clothing.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year2434
6.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 April 22307,870113,85793,339515,066
Additions-1,925-1,925
At 31 March 23307,870115,78293,339516,991
Depreciation and impairment
At 01 April 22-110,11888,735198,853
Charge for year-2,4591,3063,765
At 31 March 23-112,57790,041202,618
Net book value
At 31 March 23307,8703,2053,298314,373
At 31 March 22307,8703,7394,604316,213
7.Stocks

2023

2022

££
Raw materials and consumables241,516204,927
Work in progress31,735-
Finished goods406,390249,727
Total679,641454,654
8.Debtors

2023

2022

££
Trade debtors / trade receivables110,477133,319
Prepayments and accrued income3,2241,808
Total113,701135,127
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.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables102,12430,378
Taxation and social security25,51831,184
Other creditors13,35813,165
Accrued liabilities and deferred income41,34472,056
Total182,344146,783
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.
10.Creditors after one year

2023

2022

££
Other creditors442,716442,716
Total442,716442,716
11.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,1401,315
Total1,1401,315