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REGISTERED NUMBER: 04006762 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023

FOR

CHELSEA CARRERA LIMITED

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company information 1

Report of the directors 2

Chartered certified accountants' report 3

Income statement 4

Statement of financial position 5

Notes to the financial statements 7


CHELSEA CARRERA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: W J Lyons
L J Mcgovern





SECRETARY: L J Mcgovern





REGISTERED OFFICE: 299 Northborough Road
Norbury
SW16 4TR





REGISTERED NUMBER: 04006762 (England and Wales)





ACCOUNTANTS: Leroy Reid & Co
Chartered Certified Accountants
and Statutory Auditors
299 Northborough Road
Norbury
London
SW16 4TR

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH JUNE 2023

The directors present their report with the financial statements of the company for the year ended 30th June 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of motor repairs specialising in Porsche.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st July 2022 to the date of this report.

W J Lyons
L J Mcgovern

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





L J Mcgovern - Director


1st March 2024

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CHELSEA CARRERA LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chelsea Carrera Limited for the year ended 30th June 2023 which comprise the Income statement, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Chelsea Carrera Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chelsea Carrera Limited and state those matters that we have agreed to state to the Board of Directors of Chelsea Carrera Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chelsea Carrera Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chelsea Carrera Limited. You consider that Chelsea Carrera Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chelsea Carrera Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Leroy Reid & Co
Chartered Certified Accountants
and Statutory Auditors
299 Northborough Road
Norbury
London
SW16 4TR


4th March 2024

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

INCOME STATEMENT
FOR THE YEAR ENDED 30TH JUNE 2023

2023 2022
Notes £    £   

TURNOVER 284,429 280,846

Cost of sales (191,421 ) (195,865 )
GROSS PROFIT 93,008 84,981

Administrative expenses (63,004 ) (84,188 )
OPERATING PROFIT and
PROFIT BEFORE TAXATION 30,004 793

Tax on profit 5 (6,148 ) (459 )
PROFIT FOR THE FINANCIAL YEAR 23,856 334

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 6 2,352 3,961

CURRENT ASSETS
Stocks 7 12,914 15,000
Debtors 8 8,387 26,891
Cash at bank and in hand 6,794 22,352
28,095 64,243
CREDITORS
Amounts falling due within one year 9 (18,060 ) (45,710 )
NET CURRENT ASSETS 10,035 18,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,387

22,494

CREDITORS
Amounts falling due after more than one
year

10

(11,075

)

(21,038

)
NET ASSETS 1,312 1,456

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 1,212 1,356
SHAREHOLDERS' FUNDS 1,312 1,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

STATEMENT OF FINANCIAL POSITION - continued
30TH JUNE 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 1st March 2024 and were signed on its behalf by:





L J Mcgovern - Director


CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

Chelsea Carrera Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - on written down value

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 14,308 30,311
Social security costs 722 -
15,030 30,311

The average number of employees during the year was as follows:
2023 2022

Motor technician 2 2

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 1,609 1,626

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 6,148 459
Tax on profit 6,148 459

UK corporation tax was charged at 19%) in 2022.

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 30,004 793
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

5,701

151

Effects of:
Expenses not deductible for tax purposes 142 -
Depreciation in excess of capital allowances 305 308

Total tax charge 6,148 459

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st July 2022
and 30th June 2023 20,570 5,995 6,374 504 33,443
DEPRECIATION
At 1st July 2022 20,249 5,322 3,408 503 29,482
Charge for year 48 67 1,494 - 1,609
At 30th June 2023 20,297 5,389 4,902 503 31,091
NET BOOK VALUE
At 30th June 2023 273 606 1,472 1 2,352
At 30th June 2022 321 673 2,966 1 3,961

7. STOCKS
2023 2022
£    £   
Work-in-progress 12,914 15,000

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,126 -
Other receivables 1,741 24,643
VAT 2,520 2,248
8,387 26,891

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,404 26,978
Taxation and social security 12,471 12,500
Other creditors 4,185 6,232
18,060 45,710

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 11,075 21,038

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

12. RESERVES
Retained
earnings
£   

At 1st July 2022 1,356
Profit for the year 23,856
Dividends (24,000 )
At 30th June 2023 1,212