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Company Registration No. 7765992 (England and Wales)
Chimsoc Limited Unaudited accounts for the year ended 31 October 2023
Chimsoc Limited Unaudited accounts Contents
Page
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Chimsoc Limited Company Information for the year ended 31 October 2023
Director
Paul Willis
Secretary
Paul Willis
Company Number
7765992 (England and Wales)
Registered Office
Chimsoc Ltd Unit 5 Wessex Road Bourne End Buckinghamshire SL8 5DT England
Accountants
Blue Cube Accountants Limited Britwell Grange Britwell Road Burnham SL1 8DF
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Chimsoc Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,338 
1,011 
Current assets
Inventories
46,952 
45,979 
Debtors
19,807 
3,780 
Cash at bank and in hand
449,276 
451,177 
516,035 
500,936 
Creditors: amounts falling due within one year
(61,474)
(69,234)
Net current assets
454,561 
431,702 
Total assets less current liabilities
459,899 
432,713 
Provisions for liabilities
Deferred tax
(1,334)
- 
Net assets
458,565 
432,713 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
458,555 
432,703 
Shareholders' funds
458,565 
432,713 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 20 February 2024 and were signed on its behalf by
Paul Willis Director Company Registration No. 7765992
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Chimsoc Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Chimsoc Limited is a private company, limited by shares, registered in England and Wales, registration number 7765992. The registered office is Chimsoc Ltd, Unit 5 Wessex Road, Bourne End, Buckinghamshire, SL8 5DT, England.
2
Accounting policies
Basis of preparation
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Fixtures & fittings
25% Straight Line
Inventories
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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 taxation
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.
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Chimsoc Limited Notes to the Accounts for the year ended 31 October 2023
3
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
- 
4,711 
4,711 
Additions
1,870 
4,255 
6,125 
At 31 October 2023
1,870 
8,966 
10,836 
Depreciation
At 1 November 2022
- 
3,700 
3,700 
Charge for the year
187 
1,611 
1,798 
At 31 October 2023
187 
5,311 
5,498 
Net book value
At 31 October 2023
1,683 
3,655 
5,338 
At 31 October 2022
- 
1,011 
1,011 
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
14,717 
- 
Accrued income and prepayments
1,310 
- 
Other debtors
3,780 
3,780 
19,807 
3,780 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
6,234 
21,030 
Trade creditors
47,000 
38,099 
Taxes and social security
6,053 
8,345 
Loans from directors
312 
- 
Accruals
1,875 
1,760 
61,474 
69,234 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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