CHIBBY LTD |
Notes to the Accounts |
for the period from 19 January 2023 to 31 January 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less cumulative depreciation and any cumulative 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: |
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Plant and machinery |
over 5 years |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Creditors |
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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. |
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Going concern |
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The company has net liabilities and is therefore dependent upon the continuing support of its creditors and directors. On the basis that this support is expected to continue, the accounts have been drawn up on the going concern basis. |
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2 |
Employees |
2024 |
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Number |
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Average number of persons employed by the company |
1 |
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3 |
Tangible fixed assets |
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Land and buildings |
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Fixtures, fittings and equipment |
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Total |
£ |
£ |
£ |
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Cost |
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Additions |
594,149 |
|
5,540 |
|
599,689 |
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At 31 January 2024 |
594,149 |
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5,540 |
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599,689 |
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Depreciation |
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Charge for the period |
- |
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1,108 |
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1,108 |
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At 31 January 2024 |
- |
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1,108 |
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1,108 |
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Net book value |
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At 31 January 2024 |
594,149 |
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4,432 |
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598,581 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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£ |
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Trade creditors |
(1,000) |
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Other taxes and social security costs |
(7,905) |
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Other creditors |
726,267 |
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717,362 |
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5 |
Other information |
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CHIBBY LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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26 Riverside Court |
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9 West Way |
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Oxford |
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OX2 0FL |