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Registered number: 12303050









CHARTERGROUP ALLIANCE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CHARTERGROUP ALLIANCE LTD
REGISTERED NUMBER: 12303050

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
35,000
41,000

  
35,000
41,000

Current assets
  

Debtors: amounts falling due within one year
 6 
5,391
33,718

Cash at bank and in hand
  
89,514
111,339

  
94,905
145,057

Creditors: amounts falling due within one year
 7 
(13,216)
(76,395)

Net current assets
  
 
 
81,689
 
 
68,662

Total assets less current liabilities
  
116,689
109,662

  

Net assets
  
116,689
109,662


Capital and reserves
  

Called up share capital 
 8 
20
30

Capital redemption reserve
 9 
10
-

Profit and loss account
 9 
116,659
109,632

  
116,689
109,662


Page 1

 
CHARTERGROUP ALLIANCE LTD
REGISTERED NUMBER: 12303050
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A L Williamson
Director

Date: 15 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CHARTERGROUP ALLIANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private limited company, incorporated in England & Wales under the Companies Act 2006. Its registered office is at 2nd Floor, 4 Beaconsfield Road, St. Albans, AL1 3RD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
CHARTERGROUP ALLIANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life which is considered to be 10 years.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
CHARTERGROUP ALLIANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means that the actual outcomes could differ from those estimates.
In preparing these financial statements, the directors have had to make the following judgements;
Determine the useful life of goodwill acquired and consider whether there are indicators of impairment of the goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the business.


4.


Employees

2024
2023
£
£

Wages and salaries
75,664
30,096

Social security costs
2,765
2,510

78,429
32,606


The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
CHARTERGROUP ALLIANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
60,000



At 31 March 2024

60,000



Amortisation


At 1 April 2023
19,000


Charge for the year on owned assets
6,000



At 31 March 2024

25,000



Net book value



At 31 March 2024
35,000



At 31 March 2023
41,000

Goodwill relates to the acquisition of a business in January 2020 and is being amortised over a period of 10 years.




6.


Debtors

2024
2023
£
£


Trade debtors
296
25,777

Prepayments and accrued income
5,095
7,941

5,391
33,718


Page 6

 
CHARTERGROUP ALLIANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
-
15,270

Trade creditors
229
12,215

Corporation tax
4,000
17,269

Other taxation and social security
5,713
5,548

Other creditors
1,318
723

Accruals and deferred income
1,956
25,370

13,216
76,395



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) A ordinary shares of £0.10 each
10
10
0 (2023 - 100) B ordinary shares of £0.10 each
-
10
100 (2023 - 100) C ordinary shares of £0.10 each
10
10

20

30

On 10 January 2024, the company purchased and cancelled 10 B ordinary shares out of distributable profits.



9.


Reserves

Capital redemption reserve

The capital redemption reserve represents the purchase of own shares from distributable profits.

Profit and loss account

The profit and loss account represents the total distributable reserves of the company.

Page 7

 
CHARTERGROUP ALLIANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
9,453
-

Later than 1 year and not later than 5 years
18,117
-

27,570
-


11.


Related party transactions

Transactions with related parties take place under normal market conditions and therefore the exemption under FRS 102 section 1AC.35 not to disclose related party transactions has been utilised.

 
Page 8