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Registered number: 03680608














CHALESAND LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 
CHALESAND LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 5


 
CHALESAND LIMITED
REGISTERED NUMBER:03680608

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Fixed asset investments
  
900,000
900,000

Current assets
  

Bank & cash balances
  
831
826

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(141,504)
(141,499)

Net current liabilities
  
 
 
(140,673)
 
 
(140,673)

Total assets less current liabilities
  
759,327
759,327

Provisions for liabilities
  

Deferred tax
 6 
(10,203)
(10,203)

Net assets
  
749,124
749,124


Capital and reserves
  

Called up share capital 
 7 
10
10

Revaluation reserve
  
835,162
835,162

Loss account
  
(86,048)
(86,048)

  
749,124
749,124


Page 1

 
CHALESAND LIMITED
REGISTERED NUMBER:03680608
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

For the year ended 30 April 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 January 2025.




J Zeloof
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
CHALESAND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Chalesand Limited is a limited liability company registered in England and Wales. Its registered office and business address is 91 Brick Lane, London, E1 6QL.
The principal activity of the company is that of investment in art.
The financial statements are presented in Sterling (£), which is the functional currency of the company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the company's other creditors in which the director has a material interest. The director is satisfied that suitable facilities will continue to be made available to the company so that it will be able to meet it's working capital requirements for the foreseable future.

 
2.3

Valuation of investments

Other fixed asset investments, whose market value can be reliably determined, are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in Other Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
CHALESAND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Other fixed asset investments

£



Valuation


At 1 May 2023
900,000



At 30 April 2024
900,000




The 2024 valuations were made by the director, on an open market value for existing use basis.


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
141,504
141,499


Page 4

 
CHALESAND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Deferred taxation




2024
2023


£

£






At beginning of year
(10,203)
(10,203)



At end of year
(10,203)
(10,203)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation gains on investment
207,203
207,203

Tax capital losses carried forward
(197,000)
(197,000)

10,203
10,203


7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10 Ordinary shares of £1 each
10
10


Page 5