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REGISTERED NUMBER: 05383733 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2024

for

Charisma Electronics Limited

Charisma Electronics Limited (Registered number: 05383733)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Charisma Electronics Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A P Heddle
Mrs K E Heddle
Mrs E Watson



SECRETARY: A P Heddle



REGISTERED OFFICE: Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB



REGISTERED NUMBER: 05383733 (England and Wales)



ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB



BANKERS: Barclays Bank
Leicester
Leicestershire
LE87 2BB

Charisma Electronics Limited (Registered number: 05383733)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,762 3,659
2,762 3,659

CURRENT ASSETS
Stocks 800 1,000
Debtors 6 99,451 14,836
Cash at bank 256,180 410,733
356,431 426,569
CREDITORS
Amounts falling due within one year 7 4,336 23,587
NET CURRENT ASSETS 352,095 402,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

354,857

406,641

PROVISIONS FOR LIABILITIES 467 623
NET ASSETS 354,390 406,018

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 354,290 405,918
SHAREHOLDERS' FUNDS 354,390 406,018

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.

Charisma Electronics Limited (Registered number: 05383733)

Statement of Financial Position - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





A P Heddle - Director


Charisma Electronics Limited (Registered number: 05383733)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


Charisma Electronics Limited (Registered number: 05383733)

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 statement of financial position 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.

Loans from directors
Any loans from the directors to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023
and 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Charisma Electronics Limited (Registered number: 05383733)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 5,541 4,232 9,995 2,430 22,198
DEPRECIATION
At 1 April 2023 5,160 4,194 6,833 2,352 18,539
Charge for year 76 10 791 20 897
At 31 March 2024 5,236 4,204 7,624 2,372 19,436
NET BOOK VALUE
At 31 March 2024 305 28 2,371 58 2,762
At 31 March 2023 381 38 3,162 78 3,659

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,601 9,210
Other debtors 670 5,075
Directors' current accounts 95,729 -
Prepayments 451 551
99,451 14,836

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 420 380
Tax 861 -
Social security and other taxes - 553
VAT 231 18,632
Owed to related company 256 506
Directors' current accounts - 739
Accrued expenses 2,568 2,777
4,336 23,587

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

Charisma Electronics Limited (Registered number: 05383733)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A P Heddle
Balance outstanding at start of year - -
Amounts advanced 95,729 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 95,729 -