Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity0false0falsetrue2022-12-12trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14540245 2022-12-11 14540245 2022-12-12 2023-12-31 14540245 2021-12-12 2022-12-11 14540245 2023-12-31 14540245 c:Director3 2022-12-12 2023-12-31 14540245 d:CurrentFinancialInstruments 2023-12-31 14540245 d:Non-currentFinancialInstruments 2023-12-31 14540245 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14540245 d:ShareCapital 2023-12-31 14540245 d:RetainedEarningsAccumulatedLosses 2023-12-31 14540245 c:FRS102 2022-12-12 2023-12-31 14540245 c:AuditExempt-NoAccountantsReport 2022-12-12 2023-12-31 14540245 c:FullAccounts 2022-12-12 2023-12-31 14540245 c:PrivateLimitedCompanyLtd 2022-12-12 2023-12-31 14540245 e:PoundSterling 2022-12-12 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 14540245









CONTROL & CHAOS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
CONTROL & CHAOS LIMITED
REGISTERED NUMBER: 14540245

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

  

Current assets
  

Stocks
  
17,750

Debtors
 6 
32,366

Cash at bank and in hand
 7 
9,439

  
59,555

Creditors: amounts falling due within one year
 8 
(68,771)

Net current (liabilities)/assets
  
 
 
(9,216)

Total assets less current liabilities
  
(9,216)

  

Net (liabilities)/assets
  
(9,216)


Capital and reserves
  

Called up share capital 
  
45,000

Profit and loss account
  
(54,216)

  
(9,216)


Page 1

 
CONTROL & CHAOS LIMITED
REGISTERED NUMBER: 14540245
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 period 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: 

Spencer Sheridan
Director

Date: 21 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CONTROL & CHAOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Control & Chaos Limited (the "Company") is a private company limited by share capital, incorporated under the UK Companies Act 2006 and domiciled in England. The address of the Company's registered office is 124 Finchley Road, London, NW3 5JS.
The Company was incorporated on 14 December 2022 and commenced trading as of this date.

2.Accounting policies

  
2.1

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.

 
2.2

Basis of preparation of financial statements

The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.

  
2.3

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

 
2.4

Going concern

In preparing these financial statements, taking into account the financial performance and position of the Company up to the date these financial statements were approved; the directors are of the opinion that there is a reasonable expectation that the Company shall have adequate financial resources available at its disposal to continue in operational existence and, as a result of which, the Company is expected to remain a going concern.
The directors accept that although there does exist an inherent material uncertainty that may cast doubt about the ability of the Company to continue as a going concern; the directors considers the uncertainty to be sufficiently insignificant such that the application of going concern basis in preparing the Company's financial statements remains appropriate and in turn have prepared the Company's financial statements under said basis.

Page 3

 
CONTROL & CHAOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Revenue

Revenue comprises turnover recognised by the Company in respect of the sale and distribution of candles and related products during the year with amounts measured as the fair value of the consideration receivable net of discounts and exclusive of Value Added Tax.
 
Revenue is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.6

Current and deferred taxation

Taxation comprises of current (i.e. corporation) and deferred taxation; both of which are recognised in profit or loss.
Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date in the UK where taxable income is generated by the Company through its business operations. Positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation are periodically evaluated with provisions recognised, where appropriate, on the basis of amounts expected to be payable to the respective tax authorities.
Deferred taxation is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date and are expected to apply when the related deferred tax asset/liability is realised/settled.
Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the respective deferred tax assets and liabilities relate to current taxation levied by the same tax authority.

 
2.7

Stocks

Candle stocks are stated at the lower of cost and net realisable value after making due allowance for obsolescence and slow-movement. Cost is based on the cost of purchase on a first in first out basis.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
 
Page 4

 
CONTROL & CHAOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Financial assets and liabilities are recognised in the balance sheet upon becoming party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the Company’s obligations are discharged, cancelled or
expired.
The measurement of specific financial assets, financial liabilities and equity is as outlined below:

 
2.9

Debtors

Debtors, excluding deferred taxation (see note 2.6), are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment of assets.

 
2.10

Cash and cash equivalents

Cash balances are reported by the Company as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours and subject to an insignificant risk of changes in value. Cash balances are held at floating interest rates linked to UK bank rates.

 
2.11

Creditors

Creditors are initially measured and subsequently held at transaction price (i.e fair value). 

 
2.12

Equity

Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from a share premium account.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to apply judgment and make estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other available sources based on historical experience and other factors that are considered to be relevant. Consequently, actual results may differ from that originally estimated.
In the opinion of the directors, the following judgments, estimates and/or assumptions made in applying
the principal accounting policies, outlined in note 2 of these financial statements, towards the preparation of these financial statements may be considered as having a significant risk of causing a material adjustment to the carrying amount of assets and/or liabilities carried forward as at the balance sheet date where by which the actual future outcome observed may differ from that originally determined and reported.
 
Page 5

 
CONTROL & CHAOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.Judgments in applying accounting policies (continued)

Stock provisions
The Company sells and distrbutes fragrant candles and is subject to consumer demand which may not meet expectations. As a result, it is necessary to consider the recoverability of the cost of stocks and the associated provisioning required. When calculating the stock provision, the directors consider the quantity, nature and condition of stocks as well as their anticipated saleability.


4.


Employees




The average monthly number of employees, including directors, during the period was 0.


5.


Stocks

2023
£

Candle stocks
17,750


The carrying value of stocks are stated net of impairment losses totalling £nil. Impairment losses totalling £nil were recognised in profit and loss.


6.


Debtors

2023
£

Due after more than one year

Deferred tax asset
17,725

17,725

Falling due within one year

Trade debtors
4,258

Other debtors
9,081

Prepayments and accrued income
1,302

32,366


Trade and other debtors falling due within one year are non-interest bearing and their fair value is not materially different from their carrying value.
As at the balance sheet date, the provision for impairment against debtors falling due within one year was £nil.

Page 6

 
CONTROL & CHAOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
£

Cash at bank and in hand
9,439



8.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
6,822

Other creditors
61,949

68,771



9.


Financial instruments

The Company held no financial instruments that would require specific disclosure under sections 1.12, 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.


10.


Related party transactions

At the balance sheet date, the directors were owed £61,949 by the Company. Amounts owed are non-interest bearing and repayable on demand with no fixed date for repayment.
There were no other related party transactions and/or period end balances to report in accordance with the Companies Act 2006 and Section 1A of Financial Reporting Standard 102 as part of these financial statements.


11.


Controlling party

The Company was under the control of its directors.

 
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