Company Registration No. 08196270 (England and Wales)
Chabu Ltd
Unaudited accounts
for the year ended 31 May 2023
Chabu Ltd
Unaudited accounts
Contents
Chabu Ltd
Company Information
for the year ended 31 May 2023
Directors
CHAN, Jonathan
ABOULACHOUAQ, Richard
Company Number
08196270 (England and Wales)
Registered Office
3RD FLOOR, 10 ROYAL BUILDINGS
PRINCESS WAY
SWANSEA
SA1 3LW
WALES
Chabu Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
1,712,073
1,543,496
Investment property
1,287,488
1,287,488
Cash at bank and in hand
21,726
81,361
Creditors: amounts falling due within one year
(564,280)
(551,623)
Net current liabilities
(525,492)
(457,956)
Total assets less current liabilities
2,474,069
2,373,028
Creditors: amounts falling due after more than one year
(2,227,433)
(2,119,473)
Net assets
246,636
253,555
Called up share capital
100
100
Revaluation reserve
214,188
214,188
Profit and loss account
32,348
39,267
Shareholders' funds
246,636
253,555
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by
CHAN, Jonathan
Director
Company Registration No. 08196270
Chabu Ltd
Notes to the Accounts
for the year ended 31 May 2023
Chabu Ltd is a private company, limited by shares, registered in England and Wales, registration number 08196270. The registered office is 3RD FLOOR, 10 ROYAL BUILDINGS, PRINCESS WAY, SWANSEA, SA1 3LW, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% reducing balance basis
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. In this case, 10 years. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
4
Intangible fixed assets
Goodwill
Chabu Ltd
Notes to the Accounts
for the year ended 31 May 2023
5
Tangible fixed assets
Land & buildings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2022
1,543,496
7,443
1,550,939
Additions
168,577
-
168,577
At 31 May 2023
1,712,073
7,443
1,719,516
At 1 June 2022
-
7,443
7,443
At 31 May 2023
-
7,443
7,443
At 31 May 2023
1,712,073
-
1,712,073
At 31 May 2022
1,543,496
-
1,543,496
Fair value at 1 June 2022
1,287,488
Amounts falling due within one year
Accrued income and prepayments
1,051
1,051
Other debtors
15,971
11,215
8
Creditors: amounts falling due within one year
2023
2022
Other creditors
552,354
539,697
9
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
2,227,433
2,119,473
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Chabu Ltd
Notes to the Accounts
for the year ended 31 May 2023
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).