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Company Registration No. 08196270 (England and Wales)
Chabu Ltd Unaudited accounts for the year ended 31 May 2024
Chabu Ltd Unaudited accounts Contents
Page
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Chabu Ltd Company Information for the year ended 31 May 2024
Directors
CHAN, Jonathan ABOULACHOUAQ, Richard
Company Number
08196270 (England and Wales)
Registered Office
3RD FLOOR, 10 ROYAL BUILDINGS PRINCESS WAY SWANSEA SA1 3LW WALES
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Chabu Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,301,427 
1,712,073 
Investment property
2,085,000 
1,287,488 
4,386,427 
2,999,561 
Current assets
Debtors
98,468 
17,062 
Cash at bank and in hand
90,976 
21,726 
189,444 
38,788 
Creditors: amounts falling due within one year
(82,844)
(564,280)
Net current assets/(liabilities)
106,600 
(525,492)
Total assets less current liabilities
4,493,027 
2,474,069 
Creditors: amounts falling due after more than one year
(2,885,390)
(2,227,433)
Net assets
1,607,637 
246,636 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
1,570,954 
214,188 
Profit and loss account
36,583 
32,348 
Shareholders' funds
1,607,637 
246,636 
For the year ending 31 May 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 directors acknowledge their 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 of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by
CHAN, Jonathan Director Company Registration No. 08196270
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Chabu Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Chabu Ltd is a private company, limited by shares, registered in England and Wales, registration number 08196270. The registered office is 3RD FLOOR, 10 ROYAL BUILDINGS, PRINCESS WAY, SWANSEA, SA1 3LW, WALES.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% reducing balance basis
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. In this case, 10 years. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2023
40,000 
At 31 May 2024
40,000 
Amortisation
At 1 June 2023
40,000 
At 31 May 2024
40,000 
Net book value
At 31 May 2024
- 
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Chabu Ltd Notes to the Accounts for the year ended 31 May 2024
5
Tangible fixed assets
Land & buildings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At valuation 
At cost 
At 1 June 2023
1,712,073 
7,443 
1,719,516 
Additions
30,100 
- 
30,100 
Revaluations
559,254 
- 
559,254 
At 31 May 2024
2,301,427 
7,443 
2,308,870 
Depreciation
At 1 June 2023
- 
7,443 
7,443 
At 31 May 2024
- 
7,443 
7,443 
Net book value
At 31 May 2024
2,301,427 
- 
2,301,427 
At 31 May 2023
1,712,073 
- 
1,712,073 
6
Investment property
2024 
£ 
Fair value at 1 June 2023
1,287,488 
Net gain from fair value adjustments
797,512 
At 31 May 2024
2,085,000 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
40 
40 
Accrued income and prepayments
27,892 
1,051 
Other debtors
70,536 
15,971 
98,468 
17,062 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
70,918 
552,354 
Accruals
11,926 
11,926 
82,844 
564,280 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,885,390 
2,227,433 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Chabu Ltd Notes to the Accounts for the year ended 31 May 2024
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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