Company No:
Contents
DIRECTOR | G Assi |
REGISTERED OFFICE | 22 Chancery Lane |
London | |
WC2A 1LS | |
United Kingdom |
COMPANY NUMBER | 12534983 (England and Wales) |
Note | 2023 | 2022 | ||
$ | $ | |||
Fixed assets | ||||
Investments | 3 |
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4,584,575 | 3,955,583 | |||
Current assets | ||||
Debtors |
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Cash at bank and in hand |
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136,257 | 453,245 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (3,828,842) | (3,275,907) | ||
Total assets less current liabilities | 755,733 | 679,676 | ||
Provision for liabilities |
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Other reserves |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Chroam Limited (registered number:
G Assi
Director |
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.
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 $.
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.
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.
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.
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.
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.
2023 | 2022 | ||
Number | Number | ||
The average number of persons employed by the company during the period was |
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Listed investments | Other investments | Total | |||
$ | $ | $ | |||
Cost or valuation before impairment | |||||
At 01 April 2022 |
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Additions |
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Disposals | (
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Movement in fair value | (
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At 31 March 2023 |
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Carrying value at 31 March 2023 |
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Carrying value at 31 March 2022 |
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2023 | 2022 | ||
$ | $ | ||
Trade creditors |
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Amounts owed to director (note 5) |
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Taxation and social security |
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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.