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Registration number: 14071792

ChamberTech Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

ChamberTech Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

ChamberTech Limited

Company Information

Directors

R Chambers

J A Pearson-Stuttard

Registered office

9 Thompson Avenue
Richmond
Surrey
TW9 4JP

Accountants

Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

ChamberTech Limited

(Registration number: 14071792)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Non-current assets

 

Intangible assets

4

15,126

-

Current assets

 

Receivables

5

4,346

1,000

Cash at bank and in hand

 

185,185

79,417

 

189,531

80,417

Payables: Amounts falling due within one year

6

(2,236)

(720)

Net current assets

 

187,295

79,697

Net assets

 

202,421

79,697

Equity

 

Called up share capital

7

1,336

1,190

Share premium reserve

296,156

79,810

Retained earnings

(95,071)

(1,303)

Shareholders' funds

 

202,421

79,697

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

The financial statements of ChamberTech Limited were approved and authorised for issue by the Board on 23 January 2025 and signed on its behalf by:
 

.........................................

R Chambers
Director

 

ChamberTech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

1

General information

ChamberTech Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The directors have considered the company's operations and the financial projections for the company and have concluded that they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

ChamberTech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Receivables

Receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Receivables 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 receivables 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.

Payables

Payables 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.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

ChamberTech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024 (continued)

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

Additions acquired separately

15,126

15,126

At 30 April 2024

15,126

15,126

Amortisation

Carrying amount

At 30 April 2024

15,126

15,126

5

Receivables

2024
£

2023
£

Other receivables

4,346

1,000

4,346

1,000

6

Payables

Payables: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade payables

36

-

Accruals

2,200

720

2,236

720

 

ChamberTech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024 (continued)

7

Share capital and reserves

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.001 each

1,336,081

1,336

1,190,477

1,190

       

During the year the company issued 145,604 Ordinary shares of £0.001 each for aggregate consideration of £216,490 for working capital purposes (2023: 1,190,477 Ordinary shares of £0.001 each for aggregate consideration of £81,000)

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

The share premium reserve represents premium paid for new shares above their nominal value net of issue costs and bonus share issues. This reserve forms part of the company's non-distributable reserves.