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CHELSIE LANE LTD

Registered Number
14041505
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

CHELSIE LANE LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

FIGG, Samuel Patrick

Registered Address

Palmeira Avenue Mansions
19 Church Road
Hove
BN3 2FA

Registered Number

14041505 (England and Wales)
CHELSIE LANE LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,263-
3,263-
Current assets
Debtors160623
Cash at bank and on hand20,101-
20,261623
Creditors amounts falling due within one year4(18,019)(18,939)
Net current assets (liabilities)2,242(18,316)
Total assets less current liabilities5,505(18,316)
Net assets5,505(18,316)
Capital and reserves
Called up share capital100100
Profit and loss account5,405(18,416)
Shareholders' funds5,505(18,316)
The financial statements were approved and authorised for issue by the Board of Directors on 30 December 2024, and are signed on its behalf by:
FIGG, Samuel Patrick
Director
Registered Company No. 14041505
CHELSIE LANE LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions4,3504,350
At 30 April 244,3504,350
Depreciation and impairment
Charge for year1,0871,087
At 30 April 241,0871,087
Net book value
At 30 April 243,2633,263
At 30 April 23--
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables360180
Bank borrowings and overdrafts9,5128,672
Taxation and social security7,540-
Other creditors60710,087
Total18,01918,939
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.
5.Related party transactions
The company has taken advantage of the exemption under FRS 102 1AC.35 whereby particulars need not be given for related party transactions concluded under normal market conditions, or transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.