Company Registration No. 11866469 (England and Wales)
Chambers Management Consulting Limited
Unaudited accounts
for the year ended 31 March 2024
Chambers Management Consulting Limited
Unaudited accounts
Contents
Chambers Management Consulting Limited
Company Information
for the year ended 31 March 2024
Director
Jennifer Chambers
Company Number
11866469 (England and Wales)
Registered Office
Office 2.05, Clockwise
Old Town Hall, 30 Tweedy Road
Bromley
Kent
BR1 3FE
United Kingdom
Accountants
Anumerate Limited
Office 2.05, Clockwise
Old Town Hall
30 Tweedy Road
Bromley
BR13FE
Chambers Management Consulting Limited
Statement of financial position
as at 31 March 2024
Investment property
629,246
629,246
Cash at bank and in hand
1,385
3,667
Creditors: amounts falling due within one year
(19,244)
(13,741)
Net current liabilities
(16,986)
(10,074)
Total assets less current liabilities
615,237
619,214
Creditors: amounts falling due after more than one year
(553,955)
(554,876)
Called up share capital
10
10
Profit and loss account
61,272
64,328
Shareholders' funds
61,282
64,338
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 December 2024 and were signed on its behalf by
Jennifer Chambers
Director
Company Registration No. 11866469
Chambers Management Consulting Limited
Notes to the Accounts
for the year ended 31 March 2024
Chambers Management Consulting Limited is a private company, limited by shares, registered in England and Wales, registration number 11866469. The registered office is Office 2.05, Clockwise, Old Town Hall, 30 Tweedy Road, Bromley, Kent, BR1 3FE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Considering future revenue streams, the Director is of the opinion that the company is a going concern.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives on a straight-line basis:
Other tangible fixed assets
25%
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
- The amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity; and
- specific criteria have been met for each of the company's activities.
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Chambers Management Consulting Limited
Notes to the Accounts
for the year ended 31 March 2024
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 31 March 2024
556
3,049
3,605
Charge for the year
58
445
503
At 31 March 2024
183
445
628
At 31 March 2024
373
2,604
2,977
Fair value at 1 April 2023
629,246
Investment properties are carried at fair value.
In accordance with the accounting policy of the company and FRS 102, costs to purchase the property have been capitalised to the Statement of Financial Position. The Directors are of the opinion that the balance reflected above approximates fair market value as at the financial year-end date.
Amounts falling due within one year
Accrued income and prepayments
873
-
Chambers Management Consulting Limited
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,065
1,065
Loans from directors
17,622
12,643
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
402,955
403,876
Loans from directors
151,000
151,000
Creditors falling due after more than one year comprise a Bounce Back Loan, mortgage in respect of the property purchased and a long-term loan from the Director. Balances as at 31 March 2024 were as follows:
Bounce Back Loan - £2,327 (2023: £3,320)
Mortgage - £401,694 (2023: £401,621) of which the full balance is due after more than 5 years
Loan from Director - £151,000
The Bounce Back loan incurs interest at 2.5% and is repayable over a 5 year term. The loan has a remaining term of 3 years and 3 months. Amounts due within 12 months in respect of loan capital repayments are reflected within note 8.
The mortgage is an interest-only mortgage with a 20 year term and interest charged at 3.5%. No capital repayments are currently being made.
Under the terms of the mortgage, the Director made a contribution to the company of £151,000 to provide operating cashflow for the acquisition of the property. This loan balance is unsecured, interest-free and may not be repaid to the Director until the mortgage held over the company is satisfied in full.
Allotted, called up and fully paid:
100 Ordinary shares of £0.10 each
10
10
10
Transactions with related parties
As at 31 March 2023, the Company owed the Director £163,643 (2022: £156,331) comprising a balance of £12,643 which is repayable on demand and a balance of £151,000 which can only be repaid to the Director once the mortgage has been repaid in full.
Loans from the Director are unsecured and interest-free.
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Average number of employees
During the year the average number of employees was 0 (2023: 0).