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REGISTERED NUMBER: 06107552 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Chelsea Autoworx Limited

Chelsea Autoworx Limited (Registered number: 06107552)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chelsea Autoworx Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: S N Abbas-Zaidi





SECRETARY: Mrs S Abbas-Zaidi





REGISTERED OFFICE: Arch 45
New Kings Road
Fulham
London
SW6 3QR





REGISTERED NUMBER: 06107552 (England and Wales)





ACCOUNTANTS: Alis Accountants Limited
The Lansdowne Building
2 Lansdowne Road
Croydon
CR9 2ER

Chelsea Autoworx Limited (Registered number: 06107552)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 27,765 32,354
27,765 32,354

CURRENT ASSETS
Stocks - 1,875
Debtors 6 38,353 32,645
Cash at bank and in hand 31,491 34,722
69,844 69,242
CREDITORS
Amounts falling due within one year 7 66,191 60,832
NET CURRENT ASSETS 3,653 8,410
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,418

40,764

CREDITORS
Amounts falling due after more than
one year

8

30,933

39,730
NET ASSETS 485 1,034

Chelsea Autoworx Limited (Registered number: 06107552)

Balance Sheet - continued
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 385 934
SHAREHOLDERS' FUNDS 485 1,034

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

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

The director acknowledges his 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.

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 director and authorised for issue on 31 October 2024 and were signed by:





S N Abbas-Zaidi - Director


Chelsea Autoworx Limited (Registered number: 06107552)

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

1. STATUTORY INFORMATION

Chelsea Autoworx Limited 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Plant and machinery - 20% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Chelsea Autoworx Limited (Registered number: 06107552)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 500
AMORTISATION
At 1 February 2023
and 31 January 2024 500
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Chelsea Autoworx Limited (Registered number: 06107552)

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

5. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 30,000 37,331 18,790 5,701 91,822
Additions - - - 2,040 2,040
At 31 January 2024 30,000 37,331 18,790 7,741 93,862
DEPRECIATION
At 1 February 2023 17,500 31,473 5,734 4,761 59,468
Charge for year 2,500 1,037 1,964 1,128 6,629
At 31 January 2024 20,000 32,510 7,698 5,889 66,097
NET BOOK VALUE
At 31 January 2024 10,000 4,821 11,092 1,852 27,765
At 31 January 2023 12,500 5,858 13,056 940 32,354

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 4,009 2,775
Other debtors 34,344 29,870
38,353 32,645

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 7,316 8,077
Trade creditors 34,370 36,694
Taxation and social security 20,423 15,350
Other creditors 4,082 711
66,191 60,832

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 30,933 39,730

Chelsea Autoworx Limited (Registered number: 06107552)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the reporting date, including in other debtors is an amount of £11,315 (2023: other creditors £375) relates to director, S N Abbas-Zaidi.

11. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £17,461 (2023: £25,100) due from Oneten Investment Limited, where director S N Abbas-Zaidi is also director and shareholder.

12. ULTIMATE CONTROLLING PARTY

The controlling party is S N Abbas-Zaidi.