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Registration number: 09814169

Chipro Starling Road Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Chipro Starling Road Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Chipro Starling Road Ltd

Company Information

Director

Mr Jonathan Robinson

Company secretary

Mr Jonathan Robinson

Registered office

4 Beckham Place
Edward Street
Norwich
Norfolk
NR3 3DZ

Accountants

Michaelides Warner & Co Limited
102 Fulham Palace Road
London
W6 9PL

 

Chipro Starling Road Ltd

(Registration number: 09814169)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

5

700,000

700,000

Current assets

 

Debtors

6

105,087

105,087

Cash at bank and in hand

 

1

1

 

105,088

105,088

Creditors: Amounts falling due within one year

7

(259,199)

(256,132)

Net current liabilities

 

(154,111)

(151,044)

Total assets less current liabilities

 

545,889

548,956

Creditors: Amounts falling due after more than one year

7

(459,135)

(399,043)

Provisions for liabilities

(97,766)

(97,766)

Net (liabilities)/assets

 

(11,012)

52,147

Capital and reserves

 

Called up share capital

8

1,000

1,000

Revaluation reserve

293,298

293,298

Retained earnings

(305,310)

(242,151)

Shareholders' (deficit)/funds

 

(11,012)

52,147

For the financial year ending 30 September 2023 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.

 

Chipro Starling Road Ltd

(Registration number: 09814169)
Balance Sheet as at 30 September 2023

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2024
 

.........................................
Mr Jonathan Robinson
Company secretary and director

 

Chipro Starling Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
4 Beckham Place
Edward Street
Norwich
Norfolk
NR3 3DZ
England

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The director considers that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

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.

 

Chipro Starling Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tax

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Fixtures & fittings

Straight Line at 20%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

 

Chipro Starling Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Chipro Starling Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

25,000

25,000

At 30 September 2023

25,000

25,000

Depreciation

At 1 October 2022

25,000

25,000

At 30 September 2023

25,000

25,000

Carrying amount

At 30 September 2023

-

-

5

Investment properties

2023
£

At 1 October

700,000

At 30 September

700,000

6

Debtors

Current

2023
£

2022
£

Other debtors

105,087

105,087

 

105,087

105,087

 

Chipro Starling Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

3,138

1,656

Accruals and deferred income

4,080

4,175

Other creditors

251,981

250,301

259,199

256,132

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

459,135

399,043

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

459,135

399,043

 

Chipro Starling Road Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

10

Related party transactions

At the year end the company owed to the director £108,381 (2022: £106,701).