Company registration number 09453942 (England and Wales)
Chrome Holdings Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Chrome Holdings Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Chrome Holdings Limited
Statement of financial position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
2
6,419,914
5,665,817
Investments
3
20
20
6,419,934
5,665,837
Current assets
Debtors
27,548
32,520
Cash at bank and in hand
2,614,917
2,022,013
2,642,465
2,054,533
Creditors: amounts falling due within one year
(118,942)
(68,395)
Net current assets
2,523,523
1,986,138
Total assets less current liabilities
8,943,457
7,651,975
Provisions for liabilities
4
(8,193)
(4,646)
Net assets
8,935,264
7,647,329
Capital and reserves
Called up share capital
5
10
10
Capital redemption reserve
10
10
Profit and loss reserves
8,935,244
7,647,309
Total equity
8,935,264
7,647,329
Chrome Holdings Limited
Statement of financial position (continued)
as at 31 March 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
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 March 2024 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 members have 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 12 September 2024
K Mahmood
Director
Company Registration No. 09453942
Chrome Holdings Limited
Notes to the financial statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised on provision of contractual service obligations when the right to consideration is due.
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Fixed asset investments
Investments in shares are included cost less provision for diminution in value.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Chrome Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 4 -
2
Investment property
2024
£
Fair value
At 1 April 2023
5,665,817
Additions
754,097
At 31 March 2024
6,419,914
3
Fixed asset investments
2024
2023
£
£
Investments in subsidiaries
20
20
4
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
8,193
4,646
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10
10
10
10
6
Company information
Chrome Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 15, Soho Street, Halifax, West Yorkshire, HX1 4DX.