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Company No: 08247624 (England and Wales)

CHINCHILLA LIMITED

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

CHINCHILLA LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

CHINCHILLA LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2023
CHINCHILLA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2023
31.10.2023 31.10.2022
£ £
Current assets
Debtors 3 1,733 3,879
Cash at bank and in hand 1,348 4,597
3,081 8,476
Creditors: amounts falling due within one year 4 ( 19,464) ( 20,636)
Net current liabilities (16,383) (12,160)
Total assets less current liabilities (16,383) (12,160)
Net liabilities ( 16,383) ( 12,160)
Capital and reserves
Called-up share capital 2 2
Profit and loss account ( 16,385 ) ( 12,162 )
Total shareholders' deficit ( 16,383) ( 12,160)

For the financial year ending 31 October 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 Chinchilla Limited (registered number: 08247624) were approved and authorised for issue by the Director. They were signed on its behalf by:

G Lawrence
Director

31 July 2024

CHINCHILLA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
CHINCHILLA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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

Chinchilla 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 1 Claydon Business Park, Great Blakenham, Ipswich, IP6 0NL, 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 pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

31.10.2023 31.10.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

31.10.2023 31.10.2022
£ £
Trade debtors 0 395
Amounts owed by director 1,013 850
Other debtors 720 2,634
1,733 3,879

4. Creditors: amounts falling due within one year

31.10.2023 31.10.2022
£ £
Trade creditors 0 1,251
Other loans 17,940 17,940
Accruals 1,524 1,346
Corporation tax 0 99
19,464 20,636

5. Related party transactions

At the year end, the director owed the company £1,013 (2022: £850). The balance is unsecured, interest-free and repayable on demand.