REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
CHRYSALIS VCT MANAGEMENT LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
CHRYSALIS VCT MANAGEMENT LIMITED |
CHRYSALIS VCT MANAGEMENT LIMITED (REGISTERED NUMBER: 05192796) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CHRYSALIS VCT MANAGEMENT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Astral House |
Granville Way |
Bicester |
Oxfordshire |
OX26 4JT |
CHRYSALIS VCT MANAGEMENT LIMITED (REGISTERED NUMBER: 05192796) |
BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
CHRYSALIS VCT MANAGEMENT LIMITED (REGISTERED NUMBER: 05192796) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Chrysalis VCT Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in the accounting policies below. |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under circumstances. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised for the provision of services when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured. |
Pensions |
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
CHRYSALIS VCT MANAGEMENT LIMITED (REGISTERED NUMBER: 05192796) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
7. | PENSION COMMITMENTS |
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £nil (2023: £6,720). |
8. | RELATED PARTY TRANSACTIONS |
The company has taken advantage of the exemption available under FRS 102 and not disclosed transactions with related parties as the company is a 100% subsidiary of Chrysalis VCT Plc. |
During the year the company Invoiced Management Fee from Chrysalis VCT Plc amounting to £131,603 (2023: £158,967), a company which is the holding company. As at the year end, an amount of £nil (2023: £41,000) was receivable from Chrysalis VCT Plc. |
During the year the company settled outstanding administration fees to Chrysalis VCT Admin Limited, a company in which the director C P Kay has an interest. As at the year end, an amount of £nil (2023: £40,000) was payable to Chrysalis VCT Admin Limited. |
During the year the company paid administration fees to Livvakt Limited amount to £48,000 (2023: £nil), a company in which the director, C P Kay has an interest. As at the year end there there are no outstanding to the Company. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is Chrysalis VCT Plc, a company incorporated in England & Wales. |