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Registration number: 06731836

Chieveley Media and Technology Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Chieveley Media and Technology Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Chieveley Media and Technology Limited

(Registration number: 06731836)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

621

932

Current assets

 

Debtors

5

9,146

3,856

Cash at bank and in hand

 

54,473

63,316

 

63,619

67,172

Creditors: Amounts falling due within one year

6

(36,273)

(32,767)

Net current assets

 

27,346

34,405

Net assets

 

27,967

35,337

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

26,967

34,337

Shareholders' funds

 

27,967

35,337

For the financial year ending 31 October 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 February 2024 and signed on its behalf by:
 

.........................................
Mr A Singleton
Director

 

Chieveley Media and Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tudor Cottage
High Street
Chieveley
Berkshire
RG20 8UX
England

2

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 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 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 IT consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Chieveley Media and Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

3

Staff numbers

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 November 2022

2,296

2,296

At 31 October 2023

2,296

2,296

Depreciation

At 1 November 2022

1,364

1,364

Charge for the year

311

311

At 31 October 2023

1,675

1,675

Carrying amount

At 31 October 2023

621

621

At 31 October 2022

932

932

 

Chieveley Media and Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Debtors

Current

2023
£

2022
£

Other debtors

9,146

3,856

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

10,132

6,742

Other creditors

26,141

26,025

36,273

32,767

 

Chieveley Media and Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Repayments by director
£

At 31 October 2023
£

Mr A Singleton

Directors Loan Account

(24,594)

(8)

(24,602)

       
     

 

2022

At 1 November 2021
£

Advances to director
£

At 31 October 2022
£

Mr A Singleton

Directors Loan Account

(32,927)

8,333

(24,594)