Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.92022-09-01property maintenance and development8truetrue 08557959 2022-09-01 2023-08-31 08557959 2021-09-01 2022-08-31 08557959 2023-08-31 08557959 2022-08-31 08557959 c:Director2 2022-09-01 2023-08-31 08557959 d:MotorVehicles 2022-09-01 2023-08-31 08557959 d:OfficeEquipment 2022-09-01 2023-08-31 08557959 d:OtherPropertyPlantEquipment 2023-08-31 08557959 d:OtherPropertyPlantEquipment 2022-08-31 08557959 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08557959 d:Goodwill 2022-09-01 2023-08-31 08557959 d:Goodwill 2023-08-31 08557959 d:Goodwill 2022-08-31 08557959 d:CurrentFinancialInstruments 2023-08-31 08557959 d:CurrentFinancialInstruments 2022-08-31 08557959 d:Non-currentFinancialInstruments 2023-08-31 08557959 d:Non-currentFinancialInstruments 2022-08-31 08557959 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 08557959 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 08557959 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 08557959 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 08557959 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 08557959 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 08557959 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 08557959 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 08557959 d:ShareCapital 2023-08-31 08557959 d:ShareCapital 2022-08-31 08557959 d:RetainedEarningsAccumulatedLosses 2023-08-31 08557959 d:RetainedEarningsAccumulatedLosses 2022-08-31 08557959 c:OrdinaryShareClass1 2022-09-01 2023-08-31 08557959 c:OrdinaryShareClass1 2023-08-31 08557959 c:OrdinaryShareClass2 2022-09-01 2023-08-31 08557959 c:OrdinaryShareClass2 2023-08-31 08557959 c:OrdinaryShareClass2 2022-08-31 08557959 c:OrdinaryShareClass3 2022-09-01 2023-08-31 08557959 c:OrdinaryShareClass3 2023-08-31 08557959 c:OrdinaryShareClass3 2022-08-31 08557959 c:FRS102 2022-09-01 2023-08-31 08557959 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 08557959 c:FullAccounts 2022-09-01 2023-08-31 08557959 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08557959 6 2022-09-01 2023-08-31 08557959 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-31 08557959 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-08-31 08557959 d:LeasedAssetsHeldAsLessee 2023-08-31 08557959 d:LeasedAssetsHeldAsLessee 2022-08-31 08557959 d:Goodwill d:OwnedIntangibleAssets 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08557959









CHELCI GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
CHELCI GROUP LIMITED
REGISTERED NUMBER: 08557959

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
25,000
75,000

Tangible assets
 5 
3,019
4,708

Investments
 6 
200
200

  
28,219
79,908

Current assets
  

Stocks
 7 
22,350
18,750

Debtors: amounts falling due within one year
 8 
655,634
827,509

Cash at bank and in hand
 9 
427,757
187,571

  
1,105,741
1,033,830

Creditors: amounts falling due within one year
 10 
(1,030,386)
(974,225)

Net current assets
  
 
 
75,355
 
 
59,605

Total assets less current liabilities
  
103,574
139,513

Creditors: amounts falling due after more than one year
 11 
(29,275)
(44,574)

  

Net assets
  
74,299
94,939


Capital and reserves
  

Called up share capital 
 13 
101
101

Profit and loss account
  
74,198
94,838

  
74,299
94,939


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
Page 1

 
CHELCI GROUP LIMITED
REGISTERED NUMBER: 08557959
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023


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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 November 2024.




I Shomade
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CHELCI GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Chelci Group Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 1st Floor, 73-81 Southwark Bridge Road, London, SE1 0NQ. The principal activity of the company during the year has been that of property maintenance and development.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CHELCI GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25% Reducing Balance
Office equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
CHELCI GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

  
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

  
2.8

Warranty provision

Provision is made for claims under warranties given by the company for works performed. The provision is based on a assessment of future claims with reference to past experience.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 5

 
CHELCI GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.14

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.16

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.17

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.18

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 8).

Page 6

 
CHELCI GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 September 2022
500,000



At 31 August 2023

500,000



Amortisation


At 1 September 2022
425,000


Charge for the year on owned assets
50,000



At 31 August 2023

475,000



Net book value



At 31 August 2023
25,000



At 31 August 2022
75,000



Page 7

 
CHELCI GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 September 2022
13,618



At 31 August 2023

13,618



Depreciation


At 1 September 2022
8,910


Charge for the year on owned assets
1,689



At 31 August 2023

10,599



Net book value



At 31 August 2023
3,019



At 31 August 2022
4,708

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
-
14,146

-
14,146

Page 8

 
CHELCI GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2022
200



At 31 August 2023
200






Net book value



At 31 August 2023
200



At 31 August 2022
200


7.


Stocks

2023
2022
£
£

Stocks
22,350
18,750

22,350
18,750



8.


Debtors

2023
2022
£
£


Trade debtors
386,991
450,585

Other debtors
47,451
35,350

Called up share capital not paid
101
101

Prepayments
221,091
341,473

655,634
827,509


Page 9

 
CHELCI GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
427,757
187,571

427,757
187,571



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
15,299
15,299

Trade creditors
37,040
213,737

Amounts owed to group undertakings
200
200

Corporation tax
120,200
75,757

Other taxation and social security
269,103
238,112

Other creditors
455,370
288,896

Accruals
133,174
142,224

1,030,386
974,225



11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
29,275
44,574

29,275
44,574


Page 10

 
CHELCI GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

12.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
15,299
15,299

Amounts falling due 1-2 years

Bank loans
15,298
15,298

Amounts falling due 2-5 years

Bank loans
13,977
29,276

44,574
59,873



13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 Ordinary shares of £1.00 each
50
50
50 (2022 - 50) A Ordinary shares of £1.00 each
50
50
1 (2022 - 1) B Ordinary share of £1.00
1
1

101

101



14.


Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £1,745 (2022: £1,673) The outstanding liability at year end is £495 (2022: £305).


15.


Related party transactions

Included within other debtors due within one year is an amount owed by the directors of £12,000 (2022:  £25,221 creditor). 
During the year the directors received dividends totalling £94,000 
(2021: £66,000).

 
Page 11