Company registration number 15043831 (England and Wales)
THREE CHORDS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
THREE CHORDS LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4
THREE CHORDS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
Notes
£
£
Current assets
Debtors
3
566,347
Cash at bank and in hand
602,532
1,168,879
Creditors: amounts falling due within one year
4
(1,169,368)
Net current liabilities
(489)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(589)
Total equity
(489)
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial period ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the period 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.
The financial statements were approved and signed by the director and authorised for issue on 29 April 2025
P Daly
Director
Company registration number 15043831 (England and Wales)
THREE CHORDS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 AUGUST 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 2 August 2023
-
Period ended 31 August 2024:
Loss and total comprehensive income
-
(589)
(589)
Issue of share capital
100
-
100
Balance at 31 August 2024
100
(589)
(489)
THREE CHORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Three Chords Limited is a private company limited by shares incorporated in England and Wales. The registered office is 39-41 Charing Cross Road, London, WC2H 0AR.
1.1
Reporting period
The company has its financial reporting period to 31 August 2024 after incorporation on 2 August 2023 and as a consequence the financial statements presented show 13 months' activity.
1.2
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.
1.3
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Basic financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any loss arising from impairment are recognised in the profit and loss account in other
administrative expenses.
1.6
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
THREE CHORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
- 4 -
3
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
218,343
Other debtors
348,004
566,347
4
Creditors: amounts falling due within one year
2024
£
Trade creditors
218,743
Other creditors
950,625
1,169,368