IRIS Accounts Production v24.3.2.46 02061752 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh020617522023-03-31020617522024-03-31020617522023-04-012024-03-31020617522022-03-31020617522022-04-012023-03-31020617522023-03-3102061752ns15:EnglandWales2023-04-012024-03-3102061752ns14:PoundSterling2023-04-012024-03-3102061752ns10:Director12023-04-012024-03-3102061752ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3102061752ns10:SmallEntities2023-04-012024-03-3102061752ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3102061752ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3102061752ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102061752ns10:FullAccounts2023-04-012024-03-3102061752ns10:OrdinaryShareClass12023-04-012024-03-3102061752ns10:Director22023-04-012024-03-3102061752ns10:CompanySecretary12023-04-012024-03-3102061752ns10:RegisteredOffice2023-04-012024-03-3102061752ns5:CurrentFinancialInstruments2024-03-3102061752ns5:CurrentFinancialInstruments2023-03-3102061752ns5:ShareCapital2024-03-3102061752ns5:ShareCapital2023-03-3102061752ns5:RetainedEarningsAccumulatedLosses2024-03-3102061752ns5:RetainedEarningsAccumulatedLosses2023-03-3102061752ns5:LandBuildingsns5:ShortLeaseholdAssets2023-04-012024-03-3102061752ns5:FurnitureFittings2023-04-012024-03-3102061752ns5:MotorVehicles2023-04-012024-03-3102061752ns5:LandBuildingsns5:ShortLeaseholdAssets2023-03-3102061752ns5:FurnitureFittings2023-03-3102061752ns5:MotorVehicles2023-03-3102061752ns5:LandBuildingsns5:ShortLeaseholdAssets2024-03-3102061752ns5:FurnitureFittings2024-03-3102061752ns5:MotorVehicles2024-03-3102061752ns5:LandBuildingsns5:ShortLeaseholdAssets2023-03-3102061752ns5:FurnitureFittings2023-03-3102061752ns5:MotorVehicles2023-03-3102061752ns5:CostValuation2023-03-3102061752ns5:AdditionsToInvestments2024-03-3102061752ns5:CostValuation2024-03-3102061752ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3102061752ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3102061752ns5:WithinOneYear2024-03-3102061752ns5:WithinOneYear2023-03-3102061752ns5:BetweenOneFiveYears2024-03-3102061752ns5:BetweenOneFiveYears2023-03-3102061752ns5:AllPeriods2024-03-3102061752ns5:AllPeriods2023-03-3102061752ns10:OrdinaryShareClass12024-03-31020617521ns10:Director12023-03-31020617521ns10:Director12022-03-31020617521ns10:Director12023-04-012024-03-31020617521ns10:Director12022-04-012023-03-31020617521ns10:Director12024-03-31020617521ns10:Director12023-03-31
REGISTERED NUMBER: 02061752 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

CHATILA LIMITED

CHATILA LIMITED (REGISTERED NUMBER: 02061752)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CHATILA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: M N Chatila
E Chatila





SECRETARY: M N Chatila





REGISTERED OFFICE: 83 Cambridge Street
London
SW1V 4PS





REGISTERED NUMBER: 02061752 (England and Wales)





ACCOUNTANTS: George Hay & Company
Chartered Accountants
83 Cambridge Street
London
SW1V 4PS

CHATILA LIMITED (REGISTERED NUMBER: 02061752)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 164,683 193,197
Investments 5 5,062,500 4,800,000
5,227,183 4,993,197

CURRENT ASSETS
Stocks 3,764,509 5,205,650
Debtors 6 3,007,781 1,717,293
Cash at bank 7,233,135 6,583,183
14,005,425 13,506,126
CREDITORS
Amounts falling due within one year 7 16,855,282 16,391,756
NET CURRENT LIABILITIES (2,849,857 ) (2,885,630 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,377,326

2,107,567

CAPITAL AND RESERVES
Called up share capital 9 400,000 400,000
Retained earnings 1,977,326 1,707,567
SHAREHOLDERS' FUNDS 2,377,326 2,107,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th March 2025 and were signed on its behalf by:



M N Chatila - Director


CHATILA LIMITED (REGISTERED NUMBER: 02061752)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Chatila Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentational currency of the financial statements is the British Pound Sterling.

Going concern
The company has net current liabilities of £2,849,857 (2023: £2,884,630). Included in current liabilities are amounts totalling £14.3m (2023: £13.2m) owing to shareholders and companies controlled by connected shareholders, and they have indicated that they will not demand repayment of amounts due to them if it would put the company in trading difficulties and they have stated these balances will not be demanded for repayment in the next 12 months. The company's cash requirements and ability to pay its liabilities as they fall due will bet met for at least the next 12 months from the date of approving the financial statements.

Turnover
Turnover comprises the invoiced value of goods sold or services provided, from the company's principal activity, net of value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the life of the lease
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stock is stated at the lower of cost and net realisable value. Where stock is held on a consignment basis and the company does not have the substantial risks and rewards of stock ownership, no value is attributed to consignment stock held or recorded throughout the year and at the balance sheet date.

Financial instruments
Basic financial instruments comprise trade and other debtors, cash and cash equivalents, trade and other creditors and balances with related parties.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows, discounted at a market rate of interest

Basic financial instruments which constitute financing transactions are subsequently carried at amortised cost, using the effective interest rate method.

Unlisted fixed asset investments are stated at historical cost less any provision for impairment.


CHATILA LIMITED (REGISTERED NUMBER: 02061752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. Non-monetary items that are measured at historical cost in a foreign currency are translated at the exchange rate at the date of the transaction.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leasing commitments
Leases where substantially all of the risks and rewards of ownership are not transferred to the company are treated as operating leases. Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Provisions
A provision is recognised in the Balance Sheet when the company has a present legal or constructive obligation as a result of a past event, and it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

CHATILA LIMITED (REGISTERED NUMBER: 02061752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2023 78,318 1,863,018 77,880 2,019,216
Additions - 20,086 - 20,086
At 31st March 2024 78,318 1,883,104 77,880 2,039,302
DEPRECIATION
At 1st April 2023 17,361 1,770,022 38,636 1,826,019
Charge for year 13,053 25,736 9,811 48,600
At 31st March 2024 30,414 1,795,758 48,447 1,874,619
NET BOOK VALUE
At 31st March 2024 47,904 87,346 29,433 164,683
At 31st March 2023 60,957 92,996 39,244 193,197

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Participating interests 5,000 5,000
Loans to undertakings in which the company
has a participating interest

5,057,500

4,795,000
5,062,500 4,800,000

Additional information is as follows:
Interest
in joint
venture
£   
COST
At 1st April 2023
and 31st March 2024 5,000
NET BOOK VALUE
At 31st March 2024 5,000
At 31st March 2023 5,000
Loans to
joint
ventures
£   
At 1st April 2023 4,795,000
New in year 262,500
At 31st March 2024 5,057,500

CHATILA LIMITED (REGISTERED NUMBER: 02061752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,313,034 1,005,814
Directors' current accounts - 1,472
VAT - 52,821
Prepayments and accrued income 694,747 657,186
3,007,781 1,717,293

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,217,861 15,879,895
Social security and other taxes 11,706 27,595
VAT 3,389 -
Payments received in advance 1,332,436 450,105
Sundry creditors 267,013 10,670
Directors' current accounts 8,984 -
Accruals 13,893 23,491
16,855,282 16,391,756

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 915,000 915,000
Between one and five years 2,058,750 2,973,750
2,973,750 3,888,750

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
400,000 Ordinary £1 400,000 400,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
M N Chatila
Balance outstanding at start of year 1,472 22,736
Amounts advanced 27,897 -
Amounts repaid (38,353 ) (21,264 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,984 ) 1,472

CHATILA LIMITED (REGISTERED NUMBER: 02061752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

11. RELATED PARTY DISCLOSURES

During the year the related parties listed below were under common ownership and control of the ultimate controlling parties stated in note 13 to the financial statements.

During the year, the company bought goods and services from the following related companies on normal commercial terms as follows:

£1,049,740 (2023: £25,000) from Chatila SA Switzerland
£2,187,267 (2023: £2,986,812) from Mamedca
£157,194 (2023: £110,505) from Chatila Bangkok


At the balance sheet date, the net amounts outstanding (included within trade creditors and other creditors) were:

£317 (2023: £323) due to Chatila SA Switzerland
£12,774,006 (2023: £12,918,541) due to Mamedca
£576,667 (2023: £228,050) due to Chatila Bangkok
£671,484 (2023: £Nil) due to Chatila Jewellery Co Saudi Arabia
£264,685 (2023: £7,793) due to N Chatila. This amount is interest free and payable on demand.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N Chatila by virtue of his shareholdings.