Little Chart Ltd 13974421 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property letting. Digita Accounts Production Advanced 6.30.9574.0 true true 13974421 2023-04-01 2024-03-31 13974421 2024-03-31 13974421 bus:OrdinaryShareClass1 2024-03-31 13974421 core:CurrentFinancialInstruments 2024-03-31 13974421 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13974421 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 13974421 core:FurnitureFittingsToolsEquipment 2024-03-31 13974421 1 2024-03-31 13974421 bus:SmallEntities 2023-04-01 2024-03-31 13974421 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13974421 bus:FilletedAccounts 2023-04-01 2024-03-31 13974421 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13974421 bus:RegisteredOffice 2023-04-01 2024-03-31 13974421 bus:Director1 2023-04-01 2024-03-31 13974421 bus:Director2 2023-04-01 2024-03-31 13974421 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13974421 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13974421 core:FurnitureFittings 2023-04-01 2024-03-31 13974421 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 13974421 countries:EnglandWales 2023-04-01 2024-03-31 13974421 1 2023-04-01 2024-03-31 13974421 2023-03-31 13974421 core:FurnitureFittingsToolsEquipment 2023-03-31 13974421 1 2023-03-31 13974421 2022-03-14 2023-03-31 13974421 2023-03-31 13974421 bus:OrdinaryShareClass1 2023-03-31 13974421 core:CurrentFinancialInstruments 2023-03-31 13974421 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13974421 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13974421 core:FurnitureFittingsToolsEquipment 2023-03-31 13974421 1 2023-03-31 13974421 1 2022-03-14 2023-03-31 13974421 1 2022-03-13 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13974421

Little Chart Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Little Chart Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Little Chart Ltd

Company Information

Directors

Mrs J Jeffrey

Mr C Jeffrey

Registered office

Sid Abbey West
Sid Road
Sidmouth
Devon
EX10 9HN

Accountants

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

Little Chart Ltd

(Registration number: 13974421)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

206

275

Investment property

492,000

573,748

 

492,206

574,023

Current assets

 

Debtors

5

356

356

Cash at bank and in hand

 

7,062

7,479

 

7,418

7,835

Prepayments and accrued income

 

1,169

449

Creditors: Amounts falling due within one year

(181,927)

(181,807)

Net current liabilities

 

(173,340)

(173,523)

Total assets less current liabilities

 

318,866

400,500

Creditors: Amounts falling due after more than one year

(405,050)

(405,050)

Net liabilities

 

(86,184)

(4,550)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(86,185)

(4,551)

Shareholders' deficit

 

(86,184)

(4,550)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

 

Little Chart Ltd

(Registration number: 13974421)
Abridged Balance Sheet as at 31 March 2024

.........................................
Mrs J Jeffrey
Director

.........................................
Mr C Jeffrey
Director

 

Little Chart Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sid Abbey West
Sid Road
Sidmouth
Devon
EX10 9HN

These financial statements were authorised for issue by the Board on 25 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Little Chart Ltd

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

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Little Chart Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

369

369

At 31 March 2024

369

369

Depreciation

At 1 April 2023

94

94

Charge for the year

69

69

At 31 March 2024

163

163

Carrying amount

At 31 March 2024

206

206

At 31 March 2023

275

275

Investment properties

2024
£

At 1 April

573,748

Fair value adjustments

(81,748)

At 31 March

492,000

The directors have valued the investment property using online searches.

There has been no valuation of investment property by an independent valuer.

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

Little Chart Ltd

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

2024

2023

No.

£

No.

£

Ordinary of £0.01 each

100

1

100

1

       

7

Dividends

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

At 31 March 2024
£

177,285

177,285

 

2023

At 14 March 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

-

(137)

177,422

177,285