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Registered Number: 13717811
England and Wales

 

 

 

CHELSEA PRIME TRADING LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Report to the directors on the preparation of the unaudited statutory accounts of Chelsea Prime Trading Ltd for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chelsea Prime Trading Ltd for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Chelsea Prime Trading Ltd, as a body, in accordance with the terms of our engagement letter dated 13 March 2024 Our work has been undertaken solely to prepare for your approval the accounts of Chelsea Prime Trading Ltd and state those matters that we have agreed to state to the Board of Directors of Chelsea Prime Trading Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chelsea Prime Trading Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Chelsea Prime Trading Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Chelsea Prime Trading Ltd. You consider that Chelsea Prime Trading Ltd 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 accounts of Chelsea Prime Trading Ltd. 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 accounts
for the year ended 30 November 2023



....................................................
Potter and Co Accountants Ltd
27 Doubleday Road
Loughton
Essex
IG10 2AU
06 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 2,120    1,413 
2,120    1,413 
Current assets      
Stocks 39,375    12,858 
Debtors 191,451    171,790 
Cash at bank and in hand 412,459    106,956 
643,285    291,604 
Creditors: amount falling due within one year (138,679)   (106,649)
Net current assets 504,606    184,955 
 
Total assets less current liabilities 506,726    186,368 
Net assets 506,726    186,368 
 

Capital and reserves
     
Called up share capital 4 110    110 
Profit and loss account 506,616    186,258 
Shareholders' funds 506,726    186,368 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 06 August 2024 and were signed by:


-------------------------------
Angus Champion de Crespigny
Director
2
General Information
Chelsea Prime Trading Ltd is a private company, limited by shares, registered in England and Wales, registration number 13717811, registration address 128 City Road, London, EC1V 2NX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33.333% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 December 2022 2,120    2,120 
Additions 2,120    2,120 
Disposals  
At 30 November 2023 4,240    4,240 
Depreciation
At 01 December 2022 707    707 
Charge for year 1,413    1,413 
On disposals  
At 30 November 2023 2,120    2,120 
Net book values
Closing balance as at 30 November 2023 2,120    2,120 
Opening balance as at 01 December 2022 1,413    1,413 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
110 Ordinary shares of £1.00 each 110    110 
110    110 

3