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REGISTERED NUMBER: 04006762 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024

FOR

CHELSEA CARRERA LIMITED

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company information 1

Report of the directors 2

Chartered certified accountants' report 3

Income statement 4

Statement of financial position 5

Notes to the financial statements 7


CHELSEA CARRERA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: W J Lyons
L J Mcgovern





SECRETARY: L J Mcgovern





REGISTERED OFFICE: 299 Northborough Road
Norbury
SW16 4TR





REGISTERED NUMBER: 04006762 (England and Wales)





ACCOUNTANTS: Leroy Reid & Co
Chartered Certified
Accountants
299 Northborough Road
Norbury
London
SW16 4TR

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH JUNE 2024

The directors present their report with the financial statements of the company for the year ended 30th June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of motor repairs specialising in Porsche.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st July 2023 to the date of this report.

W J Lyons
L J Mcgovern

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





L J Mcgovern - Director


26th March 2025

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CHELSEA CARRERA LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chelsea Carrera Limited for the year ended 30th June 2024 which comprise the Income statement, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Chelsea Carrera Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chelsea Carrera Limited and state those matters that we have agreed to state to the Board of Directors of Chelsea Carrera Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chelsea Carrera Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Chelsea Carrera Limited. You consider that Chelsea Carrera Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Chelsea Carrera Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Leroy Reid & Co
Chartered Certified
Accountants
299 Northborough Road
Norbury
London
SW16 4TR


26th March 2025

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

INCOME STATEMENT
FOR THE YEAR ENDED 30TH JUNE 2024

2024 2023
Notes £    £   

TURNOVER 297,292 284,429

Cost of sales (219,897 ) (191,421 )
GROSS PROFIT 77,395 93,008

Administrative expenses (94,881 ) (63,004 )
OPERATING (LOSS)/PROFIT and
(LOSS)/PROFIT BEFORE TAXATION (17,486 ) 30,004

Tax on (loss)/profit 5 2,762 (6,148 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(14,724

)

23,856

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 6 4 2,352

CURRENT ASSETS
Stocks 7 4,084 12,914
Debtors 8 9,072 8,387
Cash at bank and in hand 15,191 6,794
28,347 28,095
CREDITORS
Amounts falling due within one year 9 (40,788 ) (18,060 )
NET CURRENT (LIABILITIES)/ASSETS (12,441 ) 10,035
TOTAL ASSETS LESS CURRENT
LIABILITIES

(12,437

)

12,387

CREDITORS
Amounts falling due after more than one
year

10

(975

)

(11,075

)
NET (LIABILITIES)/ASSETS (13,412 ) 1,312

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (13,512 ) 1,212
SHAREHOLDERS' FUNDS (13,412 ) 1,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

STATEMENT OF FINANCIAL POSITION - continued
30TH JUNE 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 26th March 2025 and were signed on its behalf by:





L J Mcgovern - Director


CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

Chelsea Carrera 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - on written down value

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 37,108 14,308
Social security costs 3,699 722
40,807 15,030

The average number of employees during the year was as follows:
2024 2023

Motor technician 1 2

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 2,348 1,609

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

5. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax (2,762 ) 6,148
Tax on (loss)/profit (2,762 ) 6,148

RECONCILIATION OF TOTAL TAX (CREDIT)/CHARGE INCLUDED IN PROFIT AND LOSS
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
(Loss)/profit before tax (17,486 ) 30,004
(Loss)/profit multiplied by the standard rate of corporation tax in the UK
of 19% (2023 - 19%)

(3,322

)

5,701

Effects of:
Expenses not deductible for tax purposes 115 142
Depreciation in excess of capital allowances 445 305

Total tax (credit)/charge (2,762 ) 6,148

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st July 2023
and 30th June 2024 20,570 5,995 6,374 504 33,443
DEPRECIATION
At 1st July 2023 20,297 5,389 4,902 503 31,091
Charge for year 271 605 1,471 1 2,348
At 30th June 2024 20,568 5,994 6,373 504 33,439
NET BOOK VALUE
At 30th June 2024 2 1 1 - 4
At 30th June 2023 273 606 1,472 1 2,352

7. STOCKS
2024 2023
£    £   
Work-in-progress 4,084 12,914

CHELSEA CARRERA LIMITED (REGISTERED NUMBER: 04006762)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,021 4,126
Other receivables 5,082 1,741
VAT 969 2,520
9,072 8,387

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 28,239 1,404
Taxation and social security 9,000 12,471
Other creditors 3,549 4,185
40,788 18,060

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 975 11,075

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

12. RESERVES
Retained
earnings
£   

At 1st July 2023 1,212
Deficit for the year (14,724 )
At 30th June 2024 (13,512 )