Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-30222022-10-01falsefalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10390107 2022-10-01 2023-09-30 10390107 2021-10-01 2022-09-30 10390107 2023-09-30 10390107 2022-09-30 10390107 c:Director1 2022-10-01 2023-09-30 10390107 d:ComputerEquipment 2022-10-01 2023-09-30 10390107 d:ComputerEquipment 2023-09-30 10390107 d:ComputerEquipment 2022-09-30 10390107 d:CurrentFinancialInstruments 2023-09-30 10390107 d:CurrentFinancialInstruments 2022-09-30 10390107 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 10390107 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 10390107 d:ShareCapital 2023-09-30 10390107 d:ShareCapital 2022-09-30 10390107 d:RetainedEarningsAccumulatedLosses 2023-09-30 10390107 d:RetainedEarningsAccumulatedLosses 2022-09-30 10390107 c:OrdinaryShareClass1 2022-10-01 2023-09-30 10390107 c:OrdinaryShareClass1 2023-09-30 10390107 c:OrdinaryShareClass1 2022-09-30 10390107 c:FRS102 2022-10-01 2023-09-30 10390107 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 10390107 c:FullAccounts 2022-10-01 2023-09-30 10390107 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 10390107









CHELSEA FINANCE PARTNERS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
CHELSEA FINANCE PARTNERS LIMITED
REGISTERED NUMBER: 10390107

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
1,436
1,062

Cash at bank and in hand
  
159,772
295,678

  
161,208
296,740

Creditors: amounts falling due within one year
 6 
(2,519)
(142,997)

Net current assets
  
 
 
158,689
 
 
153,743

Total assets less current liabilities
  
158,689
153,743

  

Net assets
  
158,689
153,743


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
158,589
153,643

  
158,689
153,743


Page 1

 
CHELSEA FINANCE PARTNERS LIMITED
REGISTERED NUMBER: 10390107

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 March 2024.




Andre Segger
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CHELSEA FINANCE PARTNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Chelsea Finance Partners Limited is a private Company limited by shares incorporated in England within the United Kingdom. The address of the registered office is 9 Stanhope Mews South, London, SW7 4TF. The Company is not part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Investment income

Investment income is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Investment income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
CHELSEA FINANCE PARTNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially
Page 4

 
CHELSEA FINANCE PARTNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
CHELSEA FINANCE PARTNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


3.


Employees

The average monthly number of employees, including directors, during the year was2 (2022 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 October 2022
1,266



At 30 September 2023

1,266



Depreciation


At 1 October 2022
1,266



At 30 September 2023

1,266



Net book value



At 30 September 2023
-



At 30 September 2022
-

Page 6

 
CHELSEA FINANCE PARTNERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
871
800

Prepayments and accrued income
565
262

1,436
1,062



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
-
139,697

Accruals and deferred income
2,519
3,300

2,519
142,997



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



8.


Related party transactions

As at 1 October 2022, the Company owed the directors £139,697. During the year repayments were made totalling £139,697. As at 30 September 2023, the Company owed the directors £Nil.


Page 7