Silverfin false false 31/03/2024 01/04/2023 31/03/2024 J Agbowu 24/03/2021 Y Betez 21/09/2020 T S Bhambra 19/08/2024 C Christou 21/09/2020 N J Coxon 19/09/2019 R Gallo 21/09/2017 Dr L M Hyder 16/05/2005 M G Jenkinson 10/10/2022 R B Kelly 20/11/2017 H Mcintosh 19/01/2015 R F M Nunn 01/06/2021 L M Wolsey 16/07/2018 04 November 2024 The Principal activity of the Company during the financial year was Special Events and Networking 05286810 2024-03-31 05286810 bus:Director1 2024-03-31 05286810 bus:Director2 2024-03-31 05286810 bus:Director3 2024-03-31 05286810 bus:Director4 2024-03-31 05286810 bus:Director5 2024-03-31 05286810 bus:Director6 2024-03-31 05286810 bus:Director7 2024-03-31 05286810 bus:Director8 2024-03-31 05286810 bus:Director9 2024-03-31 05286810 bus:Director10 2024-03-31 05286810 bus:Director11 2024-03-31 05286810 bus:Director12 2024-03-31 05286810 2023-03-31 05286810 core:CurrentFinancialInstruments 2024-03-31 05286810 core:CurrentFinancialInstruments 2023-03-31 05286810 core:RetainedEarningsAccumulatedLosses 2024-03-31 05286810 core:RetainedEarningsAccumulatedLosses 2023-03-31 05286810 core:FurnitureFittings 2023-03-31 05286810 core:OfficeEquipment 2023-03-31 05286810 core:FurnitureFittings 2024-03-31 05286810 core:OfficeEquipment 2024-03-31 05286810 2023-04-01 2024-03-31 05286810 bus:FilletedAccounts 2023-04-01 2024-03-31 05286810 bus:SmallEntities 2023-04-01 2024-03-31 05286810 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05286810 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 05286810 bus:Director1 2023-04-01 2024-03-31 05286810 bus:Director2 2023-04-01 2024-03-31 05286810 bus:Director3 2023-04-01 2024-03-31 05286810 bus:Director4 2023-04-01 2024-03-31 05286810 bus:Director5 2023-04-01 2024-03-31 05286810 bus:Director6 2023-04-01 2024-03-31 05286810 bus:Director7 2023-04-01 2024-03-31 05286810 bus:Director8 2023-04-01 2024-03-31 05286810 bus:Director9 2023-04-01 2024-03-31 05286810 bus:Director10 2023-04-01 2024-03-31 05286810 bus:Director11 2023-04-01 2024-03-31 05286810 bus:Director12 2023-04-01 2024-03-31 05286810 core:FurnitureFittings 2023-04-01 2024-03-31 05286810 core:OfficeEquipment 2023-04-01 2024-03-31 05286810 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 05286810 (England and Wales)

SOUTH EAST LONDON CHAMBER OF COMMERCE

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SOUTH EAST LONDON CHAMBER OF COMMERCE

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SOUTH EAST LONDON CHAMBER OF COMMERCE

BALANCE SHEET

As at 31 March 2024
SOUTH EAST LONDON CHAMBER OF COMMERCE

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,941 1,939
1,941 1,939
Current assets
Debtors 4 30,217 23,554
Cash at bank and in hand 71,060 74,964
101,277 98,518
Creditors: amounts falling due within one year 5 ( 70,542) ( 71,903)
Net current assets 30,735 26,615
Total assets less current liabilities 32,676 28,554
Net assets 32,676 28,554
Reserves
Profit and loss account 32,676 28,554
Total reserves 32,676 28,554

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of South East London Chamber of Commerce (registered number: 05286810) were approved and authorised for issue by the Board of Directors on 04 November 2024. They were signed on its behalf by:

R Gallo
Director
SOUTH EAST LONDON CHAMBER OF COMMERCE

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SOUTH EAST LONDON CHAMBER OF COMMERCE

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

South East London Chamber of Commerce (the Company) is a private company, limited by guarantees, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit Tw/145 Trinity Wharf Harrington Way, Mellish Industrial Estate, Woolwich, SE18 5NR, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 10 % reducing balance
Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 April 2023 1,579 23,111 24,690
Additions 0 590 590
At 31 March 2024 1,579 23,701 25,280
Accumulated depreciation
At 01 April 2023 719 22,032 22,751
Charge for the financial year 86 502 588
At 31 March 2024 805 22,534 23,339
Net book value
At 31 March 2024 774 1,167 1,941
At 31 March 2023 860 1,079 1,939

4. Debtors

2024 2023
£ £
Trade debtors 29,806 20,704
Deferred tax asset 0 2,850
Other debtors 411 0
30,217 23,554

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,196 3,775
Taxation and social security 9,431 6,863
Other creditors 59,915 61,265
70,542 71,903

6. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 2,425 0

The above amounts relate to office equipment ending within 3 years of the balance sheet date.

7. Related party transactions

Transactions with the entity's directors

During the year the company paid consultancy fees of £0 (2023: £13,185) to HR2HR, a company in which T L Baker has a controlling interest. The services were provided on an arms length basis. At the year end there was £0.00 (2023:£2800) owed to HR2HR.