Company registration number 01527530 (England and Wales)
PIERS CHATER ROBINSON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
PIERS CHATER ROBINSON LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
PIERS CHATER ROBINSON LTD
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
115,899
115,899
Creditors: amounts falling due within one year
5
(8,296)
(8,296)
Net current assets
107,603
107,603
Creditors: amounts falling due after more than one year
6
(141,175)
(141,175)
Net liabilities
(33,572)
(33,572)
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(34,572)
(34,572)
Total equity
(33,572)
(33,572)
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 29 August 2024
M P Chater Robinson
Director
Company registration number 01527530 (England and Wales)
PIERS CHATER ROBINSON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Piers Chater Robinson Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7-9 The Avenue, Eastbourne, East Sussex, BN21 3YA.
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
At the balance sheet date, the company had net current assets of £107,603 (2022 £107,603) and net liabilities of £33,572 (2022 £33,572). The company is therefore dependent on the goodwill of its creditors in order to continue trading.
The major creditors of the company have indicated their continuing support for the company and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of support by the company's creditors.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.3
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
PIERS CHATER ROBINSON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.5
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Just Shares Limited (parent company)
115,899
Amounts falling due after more than one year:
Other debtors
115,899
Total debtors
115,899
115,899
PIERS CHATER ROBINSON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Debtors
(Continued)
- 4 -
The amounts due from Just Shares Limited, a company of which M P Chater Robinson is the controlling shareholder and a director, are secured on the assets of the company.
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
1,792
1,792
Other creditors
6,504
6,504
8,296
8,296
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
141,175
141,175
7
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
M P Chater Robinson is a director of International Theatre & Music Limited to which the company has amounts owed of £1,792 (2022 £1,792).
M P Chater Robinson is also a director and controlling shareholder of Just Shares Limited, from which the company has amounts due totalling £115,899 (2022 £115,899).