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REGISTERED NUMBER: 05178692 (England and Wales)








CHAPTERS FINANCIAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






CHAPTERS FINANCIAL LIMITED (REGISTERED NUMBER: 05178692)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

CHAPTERS FINANCIAL LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: K G Churchouse
Mrs E M Dadswell
Ms V Fulcher





SECRETARY: K G Churchouse





REGISTERED OFFICE: Shaw House
2-3 Tunsgate
Guildford
Surrey
GU1 3QT





REGISTERED NUMBER: 05178692 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

CHAPTERS FINANCIAL LIMITED (REGISTERED NUMBER: 05178692)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,094 5,812
Tangible assets 5 65,227 74,232
68,321 80,044

CURRENT ASSETS
Debtors 6 30,788 49,436
Cash at bank 134,790 132,711
165,578 182,147
CREDITORS
Amounts falling due within one year 7 (87,656 ) (95,455 )
NET CURRENT ASSETS 77,922 86,692
TOTAL ASSETS LESS CURRENT LIABILITIES 146,243 166,736

PROVISIONS FOR LIABILITIES (11,760 ) (13,440 )
NET ASSETS 134,483 153,296

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 132,483 151,296
SHAREHOLDERS' FUNDS 134,483 153,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

CHAPTERS FINANCIAL LIMITED (REGISTERED NUMBER: 05178692)

BALANCE SHEET - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:




K G Churchouse - Director



Mrs E M Dadswell - Director


CHAPTERS FINANCIAL LIMITED (REGISTERED NUMBER: 05178692)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Chapters Financial 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover
Turnover represents amounts receivable for the provision of financial advice.

Intangible assets
Trademarks and website development costs are treated as intangible assets where their future recoverability can be reasonably regarded as assured. These assets are amortised over their estimated useful economic life of 10 years and 5 years respectively.

Costs relating to the ongoing maintenance and operation of the website are expensed to the profit and loss account as they are incurred.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% reducing balance
Fixtures & fittings - 25% reducing balance
Improvements to property - 10% straight line

On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in profit or loss, and included in administrative expenses.

Financial instruments
Financial instruments are classified by the directors as basic or non-basic, following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest rate method. The company has no non-basic financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CHAPTERS FINANCIAL LIMITED (REGISTERED NUMBER: 05178692)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Expenditure
Expenditure includes irrecoverable VAT.

Operating lease commitments
Rentals paid under the operating leases are charged to the income statement on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 91,356
AMORTISATION
At 1 April 2023 85,544
Charge for year 2,718
At 31 March 2024 88,262
NET BOOK VALUE
At 31 March 2024 3,094
At 31 March 2023 5,812

CHAPTERS FINANCIAL LIMITED (REGISTERED NUMBER: 05178692)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 58,968 21,608 34,264 114,840
Additions - 839 4,407 5,246
Disposals - (1,238 ) (13,133 ) (14,371 )
At 31 March 2024 58,968 21,209 25,538 105,715
DEPRECIATION
At 1 April 2023 6,880 17,412 16,316 40,608
Charge for year 5,897 865 4,273 11,035
Eliminated on disposal - (976 ) (10,179 ) (11,155 )
At 31 March 2024 12,777 17,301 10,410 40,488
NET BOOK VALUE
At 31 March 2024 46,191 3,908 15,128 65,227
At 31 March 2023 52,088 4,196 17,948 74,232

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,650 7,980
Other debtors 27,138 41,456
30,788 49,436

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 5,126
Trade creditors 535 1,850
Taxation and social security 68,966 60,984
Other creditors 18,155 27,495
87,656 95,455

8. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 23,000 23,000
Between one and five years 143,750 166,750
166,750 189,750

CHAPTERS FINANCIAL LIMITED (REGISTERED NUMBER: 05178692)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 5,126

During the year, the Natwest Bank PLC loan was repaid in full. The security provided by 2 of the company directors via personal guarantees has therefore been satisfied.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CHAPTERS FINANCIAL LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chapters Financial Limited for the year ended 31 March 2024 which comprise the Profit and Loss account, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Chapters Financial 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 Chapters Financial Limited and state those matters that we have agreed to state to the Board of Directors of Chapters Financial Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chapters Financial Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chapters Financial 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 Chapters Financial Limited. You consider that Chapters Financial 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 Chapters Financial 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.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


17 April 2024