Chaltom (UK) Consulting Limited 11667003 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is business consultancy Digita Accounts Production Advanced 6.30.9574.0 true 11667003 2023-04-01 2024-03-31 11667003 2024-03-31 11667003 core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 11667003 core:CurrentFinancialInstruments 2024-03-31 11667003 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11667003 core:Non-currentFinancialInstruments 2024-03-31 11667003 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 11667003 core:FurnitureFittingsToolsEquipment 2024-03-31 11667003 bus:SmallEntities 2023-04-01 2024-03-31 11667003 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11667003 bus:FullAccounts 2023-04-01 2024-03-31 11667003 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11667003 bus:RegisteredOffice 2023-04-01 2024-03-31 11667003 bus:Director1 2023-04-01 2024-03-31 11667003 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11667003 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11667003 core:OfficeEquipment 2023-04-01 2024-03-31 11667003 countries:EnglandWales 2023-04-01 2024-03-31 11667003 core:FurnitureFittingsToolsEquipment 2023-03-31 11667003 2022-04-01 2023-03-31 11667003 2023-03-31 11667003 core:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11667003 core:CurrentFinancialInstruments 2023-03-31 11667003 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11667003 core:Non-currentFinancialInstruments 2023-03-31 11667003 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11667003 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11667003

Prepared for the registrar

Chaltom (UK) Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Chaltom (UK) Consulting Limited

(Registration number: 11667003)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

511

93

Current assets

 

Debtors

5

74,888

50,636

Cash at bank and in hand

 

47

2,377

 

74,935

53,013

Creditors: Amounts falling due within one year

6

(65,965)

(35,689)

Net current assets

 

8,970

17,324

Total assets less current liabilities

 

9,481

17,417

Creditors: Amounts falling due after more than one year

6

(9,333)

(17,333)

Deferred tax liabilities

8

(128)

(23)

Net assets

 

20

61

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

19

60

Shareholders' funds

 

20

61

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.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 September 2024
 

J M Woodhouse
Director

   
     
 

Chaltom (UK) Consulting Limited

Notes to the Unaudited 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:
Manisty
The Street
Oaksey
Malmesbury
Wiltshire
SN16 9TF

 

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 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 financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements or key sources of estimation uncertainty have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

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 and after eliminating sales within the company.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Chaltom (UK) Consulting Limited

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Office equipment

25% straight line

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Chaltom (UK) Consulting Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Chaltom (UK) Consulting Limited

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

 

4

Tangible assets

Office equipment
 £

Cost

At 1 April 2023

1,702

Additions

633

At 31 March 2024

2,335

Depreciation

At 1 April 2023

1,609

Charge for the year

215

At 31 March 2024

1,824

Carrying amount

At 31 March 2024

511

At 31 March 2023

93

 

5

Debtors

Note

2024
 £

2023
 £

Trade debtors

 

22,440

23,460

Other debtors

9

36,298

27,176

Accrued income

 

16,150

-

   

74,888

50,636

 

6

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

7

8,000

8,000

Social security and other taxes

 

7,305

10,141

Accrued expenses

 

1,985

1,680

Corporation tax liability

48,675

15,868

 

65,965

35,689

Due after one year

 

Loans and borrowings

7

9,333

17,333

 

Chaltom (UK) Consulting Limited

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

 

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

8,000

8,000

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

9,333

17,333

 

8

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Fixed asset timing differences

128

2023

Liability
£

Fixed asset timing differences

23

 

9

Related party transactions


Transactions with the director

At 31 March 2024, J M Woodhouse, director of the company, owed £36,298 (2023: £27,176) in the form of a director's loan. The loan is unsecured, interest free and repayable on demand.