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Registered number: 07050791
CHARTWELL IT LIMITED
Financial Statements
For The Year Ended 31 August 2023
My Accountant Friend
50 St Marys Road
Hemel Hempstead
Herts
HP2 5HL
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 07050791
2023 2022
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 (9,458 ) 1,985
Cash at bank and in hand 53,484 79,892
44,026 81,877
Creditors: Amounts Falling Due Within One Year 6 17,048 13,874
NET CURRENT ASSETS (LIABILITIES) 61,074 95,751
TOTAL ASSETS LESS CURRENT LIABILITIES 61,074 95,751
NET ASSETS 61,074 95,751
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 61,072 95,749
SHAREHOLDERS' FUNDS 61,074 95,751
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Wass
Director
02/04/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
CHARTWELL IT LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07050791 . The registered office is 25 Byron Road, South Croydon, CR2 8DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 100% Straight Line
Computer Equipment 100% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: )
1 -
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 September 2022 791 1,962 2,753
As at 31 August 2023 791 1,962 2,753
Depreciation
As at 1 September 2022 791 1,962 2,753
As at 31 August 2023 791 1,962 2,753
Net Book Value
As at 31 August 2023 - - -
As at 1 September 2022 - - -
Page 2
Page 3
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 12,319 23,749
Other debtors (21,840 ) (21,840 )
Other taxes and social security - 76
Director's loan account 63 -
(9,458 ) 1,985
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 1,718
Other taxes and social security 148 -
VAT 2,903 5,185
Other creditors (21,840 ) (21,840 )
Accruals and deferred income 1,740 840
Director's loan account - 223
(17,048 ) (13,874 )
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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