IRIS Accounts Production v24.2.0.383 07175560 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071755602023-03-31071755602024-03-31071755602023-04-012024-03-31071755602022-03-31071755602022-04-012023-03-31071755602023-03-3107175560ns15:EnglandWales2023-04-012024-03-3107175560ns14:PoundSterling2023-04-012024-03-3107175560ns10:Director12023-04-012024-03-3107175560ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107175560ns10:SmallEntities2023-04-012024-03-3107175560ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3107175560ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107175560ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107175560ns10:FullAccounts2023-04-012024-03-3107175560ns10:Director22023-04-012024-03-3107175560ns10:RegisteredOffice2023-04-012024-03-3107175560ns5:CurrentFinancialInstruments2024-03-3107175560ns5:CurrentFinancialInstruments2023-03-3107175560ns5:ShareCapital2024-03-3107175560ns5:ShareCapital2023-03-3107175560ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3107175560ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3107175560ns5:RetainedEarningsAccumulatedLosses2024-03-3107175560ns5:RetainedEarningsAccumulatedLosses2023-03-3107175560ns5:ComputerEquipment2023-04-012024-03-3107175560ns5:ComputerEquipment2023-03-3107175560ns5:ComputerEquipment2024-03-3107175560ns5:ComputerEquipment2023-03-3107175560ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3107175560ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3107175560ns5:DeferredTaxation2023-03-3107175560ns5:DeferredTaxation2023-04-012024-03-3107175560ns5:DeferredTaxation2024-03-3107175560ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-31
REGISTERED NUMBER: 07175560 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2024

for

Chace Associates Ltd

Chace Associates Ltd (Registered number: 07175560)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Chace Associates Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J J Lijftogt
Ms N Lopez-Roel





REGISTERED OFFICE: South Building
Upper Farm
Wootton St Lawrence
BASINGSTOKE
Hampshire
RG23 8PE





REGISTERED NUMBER: 07175560 (England and Wales)





ACCOUNTANTS: Weller Mackrill
Chartered Certified Accountants
South Building
Upper Farm
Wootton St Lawrence
Basingstoke
Hampshire
RG23 8PE

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Chace Associates Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chace Associates Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Chace Associates Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chace Associates Ltd and state those matters that we have agreed to state to the Board of Directors of Chace Associates Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chace Associates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Chace Associates Ltd. You consider that Chace Associates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chace Associates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Weller Mackrill
Chartered Certified Accountants
South Building
Upper Farm
Wootton St Lawrence
Basingstoke
Hampshire
RG23 8PE


16 September 2024

Chace Associates Ltd (Registered number: 07175560)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,158 1,454
Investment property 5 1,075,000 1,075,000
1,076,158 1,076,454

CURRENT ASSETS
Debtors 6 3,200 3,875
Cash at bank 39,766 26,424
42,966 30,299
CREDITORS
Amounts falling due within one year 7 (58,947 ) (40,483 )
NET CURRENT LIABILITIES (15,981 ) (10,184 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,060,177

1,066,270

PROVISIONS FOR LIABILITIES 8 (43,867 ) (34,728 )
NET ASSETS 1,016,310 1,031,542

CAPITAL AND RESERVES
Called up share capital 3 3
Fair value reserve 9 138,911 182,778
Retained earnings 877,396 848,761
SHAREHOLDERS' FUNDS 1,016,310 1,031,542

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Chace Associates Ltd (Registered number: 07175560)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





J J Lijftogt - Director


Chace Associates Ltd (Registered number: 07175560)

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

1. STATUTORY INFORMATION

Chace Associates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
The accounts have been prepared on a going concern basis, despite the fact that current liabilities exceed current assets. The directors have given an undertaking to support the company until it returns to a net current assets position. Accordingly the going concern basis is considered appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Chace Associates Ltd (Registered number: 07175560)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 10,556
Additions 1,737
At 31 March 2024 12,293
DEPRECIATION
At 1 April 2023 9,102
Charge for year 2,033
At 31 March 2024 11,135
NET BOOK VALUE
At 31 March 2024 1,158
At 31 March 2023 1,454

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 1,075,000
NET BOOK VALUE
At 31 March 2024 1,075,000
At 31 March 2023 1,075,000

Cost or valuation at 31 March 2024 is represented by:
£   
Valuation in 2018 127,156
Valuation in 2019 (20,000 )
Valuation in 2021 20,000
Valuation in 2022 55,622
Cost 892,222
1,075,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,200 3,875

Chace Associates Ltd (Registered number: 07175560)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 56,545 38,603
Other creditors 2,402 1,880
58,947 40,483

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 43,867 34,728

Deferred
tax
£   
Balance at 1 April 2023 34,728
Provided during year 9,139
Balance at 31 March 2024 43,867

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023 182,778
Revaluation (43,867 )

At 31 March 2024 138,911