IRIS Accounts Production v23.2.0.158 08865792 director 1.6.22 31.5.23 31.5.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088657922022-05-31088657922023-05-31088657922022-06-012023-05-31088657922021-05-31088657922021-06-012022-05-31088657922022-05-3108865792ns10:Originalns15:EnglandWales2022-06-012023-05-3108865792ns14:PoundSterlingns10:Original2022-06-012023-05-3108865792ns10:Originalns10:Director12022-06-012023-05-3108865792ns10:Original2022-06-012023-05-3108865792ns10:Original2023-05-3108865792ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3108865792ns10:Originalns10:SmallEntities2022-06-012023-05-3108865792ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3108865792ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3108865792ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3108865792ns10:Originalns10:FullAccounts2022-06-012023-05-3108865792ns10:Original12022-06-012023-05-3108865792ns10:Originalns10:RegisteredOffice2022-06-012023-05-3108865792ns10:Original2022-05-3108865792ns10:Originalns5:CurrentFinancialInstruments2023-05-3108865792ns10:Originalns5:CurrentFinancialInstruments2022-05-3108865792ns10:Originalns5:Non-currentFinancialInstruments2023-05-3108865792ns10:Originalns5:Non-currentFinancialInstruments2022-05-3108865792ns5:ShareCapitalns10:Original2023-05-3108865792ns5:ShareCapitalns10:Original2022-05-3108865792ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3108865792ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3108865792ns10:Originalns5:NetGoodwill2022-06-012023-05-3108865792ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-012023-05-3108865792ns10:Original2021-06-012022-05-3108865792ns10:Originalns5:NetGoodwill2022-05-3108865792ns10:Originalns5:NetGoodwill2023-05-3108865792ns10:Originalns5:NetGoodwill2022-05-3108865792ns10:Originalns5:FurnitureFittings2022-05-3108865792ns10:Originalns5:MotorVehicles2022-05-3108865792ns10:Originalns5:ComputerEquipment2022-05-3108865792ns10:Original2022-05-3108865792ns10:Originalns5:FurnitureFittings2022-06-012023-05-3108865792ns10:Originalns5:MotorVehicles2022-06-012023-05-3108865792ns10:Originalns5:ComputerEquipment2022-06-012023-05-3108865792ns10:Originalns5:FurnitureFittings2023-05-3108865792ns10:Originalns5:MotorVehicles2023-05-3108865792ns10:Originalns5:ComputerEquipment2023-05-3108865792ns10:Originalns5:FurnitureFittings2022-05-3108865792ns10:Originalns5:MotorVehicles2022-05-3108865792ns10:Originalns5:ComputerEquipment2022-05-3108865792ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3108865792ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31
REGISTERED NUMBER: 08865792 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Chado Ltd

Chado Ltd (Registered number: 08865792)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chado Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Dr C Obuaya





REGISTERED OFFICE: 115a Harley Street
London
W1G 6AR





REGISTERED NUMBER: 08865792 (England and Wales)





ACCOUNTANTS: Alexander Associates
24A Aldermans Hill
Palmers Green
London
N13 4PN

Chado Ltd (Registered number: 08865792)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 32,500 39,000
Tangible assets 5 57,937 45,896
90,437 84,896

CURRENT ASSETS
Debtors 6 51,809 93,059
Investments 7 525,032 525,032
Cash at bank 563,503 437,973
1,140,344 1,056,064
CREDITORS
Amounts falling due within one year 8 73,650 92,254
NET CURRENT ASSETS 1,066,694 963,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,157,131

1,048,706

CREDITORS
Amounts falling due after more than one year 9 20,835 25,244
NET ASSETS 1,136,296 1,023,462

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,136,196 1,023,362
1,136,296 1,023,462

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Chado Ltd (Registered number: 08865792)

Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 January 2024 and were signed by:





Dr C Obuaya - Director


Chado Ltd (Registered number: 08865792)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Chado Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Chado Ltd (Registered number: 08865792)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 65,000
AMORTISATION
At 1 June 2022 26,000
Charge for year 6,500
At 31 May 2023 32,500
NET BOOK VALUE
At 31 May 2023 32,500
At 31 May 2022 39,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 24,604 36,133 2,113 62,850
Additions 27,360 - - 27,360
At 31 May 2023 51,964 36,133 2,113 90,210
DEPRECIATION
At 1 June 2022 9,086 6,188 1,680 16,954
Charge for year 10,719 4,492 108 15,319
At 31 May 2023 19,805 10,680 1,788 32,273
NET BOOK VALUE
At 31 May 2023 32,159 25,453 325 57,937
At 31 May 2022 15,518 29,945 433 45,896

Chado Ltd (Registered number: 08865792)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. DEBTORS
31.5.23 31.5.22
£    £   
Amounts falling due within one year:
Trade debtors 34,963 73,867
Prepayments 16,023 17,272
50,986 91,139

Amounts falling due after more than one year:
Other debtors 823 1,920

Aggregate amounts 51,809 93,059

7. CURRENT ASSET INVESTMENTS
31.5.23 31.5.22
£    £   
Unlisted investments 40,032 40,032
Other 485,000 485,000
525,032 525,032

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Tax 66,581 84,935
Social security and other taxes 524 631
Pension 189 194
Directors' current accounts 3,056 3,194
Accrued expenses 3,300 3,300
73,650 92,254

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 20,835 25,244