Registered number
02700643
Chiasma Limited
Filleted Accounts
30 April 2024
Chiasma Limited
Registered number: 02700643
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 400,283 416,342
Current assets
Stocks 693,170 713,625
Debtors 5 50,115 54,607
Cash at bank and in hand 25,254 15,790
768,539 784,022
Creditors: amounts falling due within one year 6 (389,123) (426,035)
Net current assets 379,416 357,987
Total assets less current liabilities 779,699 774,329
Creditors: amounts falling due after more than one year 7 (100,939) (151,457)
Net assets 678,760 622,872
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 677,760 621,872
Shareholders' funds 678,760 622,872
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Walker
Director
Approved by the board on 19 November 2024
Chiasma Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative 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:
Freehold buildings over 50 years
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 2,000
At 30 April 2024 2,000
Amortisation
At 1 May 2023 2,000
At 30 April 2024 2,000
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 694,326 57,467 24,167 775,960
At 30 April 2024 694,326 57,467 24,167 775,960
Depreciation
At 1 May 2023 286,415 56,680 16,523 359,618
Charge for the year 13,887 262 1,910 16,059
At 30 April 2024 300,302 56,942 18,433 375,677
Net book value
At 30 April 2024 394,024 525 5,734 400,283
At 30 April 2023 407,911 787 7,644 416,342
5 Debtors 2024 2023
£ £
Trade debtors 43,236 48,458
Other debtors 6,879 6,149
50,115 54,607
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 189,650 201,325
Trade creditors 10,944 12,148
Taxation and social security costs 39,526 42,997
Other creditors 149,003 169,565
389,123 426,035
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 100,939 151,457
8 Controlling party
Mr & Mrs Walker, by virtue of their share holding have 100% control of the company.
9 Other information
Chiasma Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Willway Street
Bristol
BS3 4BG
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