Silverfin false 31/03/2023 01/04/2022 31/03/2023 G Assi 25/03/2020 13 March 2024 no description of principal activity 12534983 2023-03-31 12534983 bus:Director1 2023-03-31 12534983 2022-03-31 12534983 core:CurrentFinancialInstruments 2023-03-31 12534983 core:CurrentFinancialInstruments 2022-03-31 12534983 core:ShareCapital 2023-03-31 12534983 core:ShareCapital 2022-03-31 12534983 core:OtherCapitalReserve 2023-03-31 12534983 core:OtherCapitalReserve 2022-03-31 12534983 core:RetainedEarningsAccumulatedLosses 2023-03-31 12534983 core:RetainedEarningsAccumulatedLosses 2022-03-31 12534983 core:CostValuation 2022-03-31 12534983 core:AdditionsToInvestments 2023-03-31 12534983 core:DisposalsRepaymentsInvestments 2023-03-31 12534983 core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 12534983 core:CostValuation 2023-03-31 12534983 2022-04-01 2023-03-31 12534983 bus:FullAccounts 2022-04-01 2023-03-31 12534983 bus:SmallEntities 2022-04-01 2023-03-31 12534983 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12534983 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12534983 bus:Director1 2022-04-01 2023-03-31 12534983 2021-04-01 2022-03-31 iso4217:USD xbrli:pure

Company No: 12534983 (England and Wales)

CHROAM LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

CHROAM LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

CHROAM LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
CHROAM LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTOR G Assi
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 12534983 (England and Wales)
CHROAM LIMITED

BALANCE SHEET

As at 31 March 2023
CHROAM LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
$ $
Fixed assets
Investments 3 4,584,575 3,955,583
4,584,575 3,955,583
Current assets
Debtors 98,612 0
Cash at bank and in hand 37,645 453,245
136,257 453,245
Creditors: amounts falling due within one year 4 ( 3,965,099) ( 3,729,152)
Net current liabilities (3,828,842) (3,275,907)
Total assets less current liabilities 755,733 679,676
Provision for liabilities 0 ( 34,499)
Net assets 755,733 645,177
Capital and reserves
Called-up share capital 1 1
Other reserves 33,539 ( 549 )
Profit and loss account 722,193 645,725
Total shareholder's funds 755,733 645,177

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Chroam Limited (registered number: 12534983) were approved and authorised for issue by the Director on 13 March 2024. They were signed on its behalf by:

G Assi
Director
CHROAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
CHROAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chroam Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in USD which is the functional currency of the Company and rounded to the nearest $.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investment in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. The investments are assessed at each reporting date as to whether there are any indications that the investment may be impaired. Where borrowings have been obtained in a currency other than functional currency for the sole purpose of making investments in that currency, the hedged foreign exchange movements have been recognised directly in other comprehensive income.

2. Employees

2023 2022
Number Number
The average number of persons employed by the company during the period was 0 0

3. Fixed asset investments

Listed investments Other investments Total
$ $ $
Cost or valuation before impairment
At 01 April 2022 2,486,395 1,469,188 3,955,583
Additions 532,250 660,000 1,192,250
Disposals ( 77,995) ( 1,268) ( 79,263)
Movement in fair value ( 483,995) 0 ( 483,995)
At 31 March 2023 2,456,655 2,127,920 4,584,575
Carrying value at 31 March 2023 2,456,655 2,127,920 4,584,575
Carrying value at 31 March 2022 2,486,395 1,469,188 3,955,583

4. Creditors: amounts falling due within one year

2023 2022
$ $
Trade creditors 9,732 0
Amounts owed to director (note 5) 3,941,251 3,695,852
Taxation and social security 14,116 33,300
3,965,099 3,729,152

5. Related party transactions

Transactions with the entity's director

2023 2022
$ $
At 31 March 2022 (3,695,852) (3,273,050)
Advances to director 0 250,751
Amounts loaned by director (245,399) (673,553)
Amounts owed to the director at 31 March 2023 (3,941,251) (3,695,852)

Amounts owed to the director are interest-free and repayable on demand with 30 days' notice required to be provided to the company prior to any repayment.