Registered number
11484745
Chelsea Traders Limited
Filleted Accounts
31 July 2023
Chelsea Traders Limited
Registered number: 11484745
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Current assets
Cash at bank and in hand 14 1,280
Creditors: amounts falling due within one year 3 (1,180) (1,180)
Net current (liabilities)/assets (1,166) 100
Net (liabilities)/assets (1,166) 100
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,266) -
Shareholder's funds (1,166) 100
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Muhammad Faisal Shaikh
Director
Approved by the board on 9 October 2023
Chelsea Traders Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and director and has adequate resources to continue in operational existence for the foreseeable future.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,180 1,180
4 Related party transactions
Muhammad Faisal Shaikh has taken dividends that are disclosed in the accounts.
5 Controlling party
Muhammad Faisal Shaikh is the ultimate controlling party.
6 Other information
Chelsea Traders Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 4, Cranbrook House
61 Cranbrook Road
Ilford
Essex
IG1 4PG
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