Registered number
13217433
Chiva Limited
Filleted Accounts
for the year ended 31 March 2024
Chiva Limited
Registered number: 13217433
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 827,642 827,949
Current assets
Cash at bank and in hand 5,995 42,446
Creditors: amounts falling due within one year 4 (14,652) (8,601)
Net current (liabilities)/assets (8,657) 33,845
Total assets less current liabilities 818,985 861,794
Creditors: amounts falling due after more than one year 5 (797,693) (860,693)
Net assets 21,292 1,101
Capital and reserves
Called up share capital 10 10
Profit and loss account 21,282 1,091
Shareholders' funds 21,292 1,101
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Iva Hittmair
Director
Approved by the board on 16 October 2024
Chiva Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts.Turnover includes revenue earned from the rented propertie and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Nil
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 826,413 2,400 828,813
At 31 March 2024 826,413 2,400 828,813
Depreciation
At 1 April 2023 - 864 864
Charge for the year - 307 307
At 31 March 2024 - 1,171 1,171
Net book value
At 31 March 2024 826,413 1,229 827,642
At 31 March 2023 826,413 1,536 827,949
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accountancy -Accruals - 100
Taxation and social security costs 5,376 267
Other creditors 9,276 8,234
14,652 8,601
5 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan Account 797,693 860,693
6 Other information
Chiva Limited is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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