Company registration number 09082390 (England and Wales)
CHARTERHOUSE (ACCOUNTANTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
CHARTERHOUSE (ACCOUNTANTS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
CHARTERHOUSE (ACCOUNTANTS) LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,075,195
2,282,715
Tangible assets
4
28,472
46,149
Investments
5
200
200
2,103,867
2,329,064
Current assets
Debtors
6
1,458,764
1,455,250
Cash at bank and in hand
131
191
1,458,895
1,455,441
Creditors: amounts falling due within one year
7
(2,222,371)
(1,995,960)
Net current liabilities
(763,476)
(540,519)
Total assets less current liabilities
1,340,391
1,788,545
Creditors: amounts falling due after more than one year
8
(510,278)
(874,574)
Net assets
830,113
913,971
Capital and reserves
Called up share capital
10
296,061
482,896
Capital redemption reserve
2
2
Profit and loss reserves
534,050
431,073
Total equity
830,113
913,971
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CHARTERHOUSE (ACCOUNTANTS) LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
D White
R Jiwani
Director
Director
Company registration number 09082390 (England and Wales)
CHARTERHOUSE (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Charterhouse (Accountants) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Income is deferred over cases where further work may be required in the future. The income on such cases is deferred over the period for which continued support is required.
1.3
Intangible fixed assets - goodwill
Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life of between three and twenty years.
1.4
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
10% on cost
Fixtures, fittings & equipment
25% on cost
Computer equipment
33.33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
CHARTERHOUSE (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.
CHARTERHOUSE (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Amounts recoverable on long term contracts, which are included in debtors, are stated at net sales value of work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
37
35
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
6,508,754
Amortisation and impairment
At 1 July 2023
4,226,039
Amortisation charged for the year
207,520
At 30 June 2024
4,433,559
Carrying amount
At 30 June 2024
2,075,195
At 30 June 2023
2,282,715
CHARTERHOUSE (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
151,755
309,465
461,220
Depreciation and impairment
At 1 July 2023
108,597
306,474
415,071
Depreciation charged in the year
15,481
2,196
17,677
At 30 June 2024
124,078
308,670
432,748
Carrying amount
At 30 June 2024
27,677
795
28,472
At 30 June 2023
43,158
2,991
46,149
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
200
200
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,337,395
1,205,554
Other debtors
121,369
249,696
1,458,764
1,455,250
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
670,178
636,348
Trade creditors
368,304
302,461
Corporation tax
315,479
173,563
Other taxation and social security
263,468
251,307
Other creditors
604,942
632,281
2,222,371
1,995,960
CHARTERHOUSE (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
402,250
642,373
Other creditors
108,028
232,201
510,278
874,574
The aggregate amount of creditors for which security has been given amounted to £447,997 (2023: £488,665) as at the balance sheet date.
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Rent commitments
539,963
730,538
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Preferred Ordinary shares of £1 each
200,000
200,000
200,000
200,000
Ordinary B and C shares of 1p each
200
200
2
2
200,200
200,200
200,002
200,002
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Redeemable Preference shares of £1 each
96,059
282,894
96,059
282,894
Preference shares classified as equity
96,059
282,894
Total equity share capital
296,061
482,896
During the year 186,835 (2023: 205,000) Preference shares of £1 each were redeemed at par value.
CHARTERHOUSE (ACCOUNTANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
11
Related party transactions
The company owed £231,377 (2023: £112,303) to a close family member of a director.
12
Directors' transactions
Included in creditors are amounts totalling £36,478 (2023: £51,933) owed by the company to the directors as at the balance sheet date.
The directors have given personal guarantees in respect of certain creditors.
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