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Registered number: 10819112









CHAPEL BAY INVESTMENT MANAGEMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
CHAPEL BAY INVESTMENT MANAGEMENT LIMITED
REGISTERED NUMBER: 10819112

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
356
307

  
356
307

Current assets
  

Debtors: amounts falling due within one year
 4 
45,324
24,000

Cash at bank and in hand
 5 
8,284
89,170

  
53,608
113,170

Creditors: amounts falling due within one year
 6 
(9,017)
(62,173)

Net current assets
  
 
 
44,591
 
 
50,997

Total assets less current liabilities
  
44,947
51,304

  

Net assets
  
44,947
51,304


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
44,847
51,204

  
44,947
51,304


Page 1

 
CHAPEL BAY INVESTMENT MANAGEMENT LIMITED
REGISTERED NUMBER: 10819112
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 statement of comprehensive income 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: 




E Owen
Director

Date: 18 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CHAPEL BAY INVESTMENT MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Chapel Bay Investment Management Limited is a private company limited by shares, and incorporated in England & Wales (registered number: 10819112).
The principal activity of the Company continued to be that of an investment management company.
The address of its registered office and principal place of business is 101 New Cavendish Street,1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the Company.

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 following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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

 
CHAPEL BAY INVESTMENT MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, 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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
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

 
CHAPEL BAY INVESTMENT MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

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.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 July 2023
1,229


Additions
475



At 30 June 2024

1,704



Depreciation


At 1 July 2023
922


Charge for the year on owned assets
426



At 30 June 2024

1,348



Net book value



At 30 June 2024
356



At 30 June 2023
307


4.


Debtors

2024
2023
£
£


Other debtors
45,324
24,000

45,324
24,000


Page 5

 
CHAPEL BAY INVESTMENT MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,284
89,170

8,284
89,170



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
12,485

Other taxation and social security
-
13,941

Accruals and deferred income
3,000
3,000

Other creditors
6,017
32,747

9,017
62,173



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) A Ordinary shares of £1.00 each
50
50
50 (2023 - 50) B Ordinary shares of £1.00 each
50
50

100

100



8.


Related party transactions

Included within other debtors is £44,000 (2023: £24,000) due from a company under common control.

 
Page 6