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REGISTERED NUMBER: 05214342 (England and Wales)





CHIUMENTO LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHIUMENTO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr I Gooden
Mr M Burgneay
Mr D Hamilton



REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



REGISTERED NUMBER: 05214342 (England and Wales)



AUDITORS: APC Accountants Limited
Chartered Accountants
and Statutory Auditors
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



BANKERS: Barclays Bank plc
Leicester
LE87 2BB

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 213,093 234,652
Tangible assets 6 2,891 3,141
Investments 7 51,852 51,852
267,836 289,645

CURRENT ASSETS
Debtors 8 121,231 135,306
Cash at bank 102,150 57,540
223,381 192,846
CREDITORS
Amounts falling due within one year 9 282,467 254,131
NET CURRENT LIABILITIES (59,086 ) (61,285 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

208,750

228,360

CREDITORS
Amounts falling due after more than one
year

10

28,030

33,567
NET ASSETS 180,720 194,793

CAPITAL AND RESERVES
Called up share capital 12 12 12
Share premium 15,949 15,949
Capital redemption reserve 1 1
Retained earnings 164,758 178,831
SHAREHOLDERS' FUNDS 180,720 194,793

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:




Mr M Burgneay - Director Mr I Gooden - Director




Mr D Hamilton - Director


CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Chiumento 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. The estimate and assumptions that have the greatest level of uncertainty are as follows:

Goodwill, Intellectual Property and Branding
In relation to intangible assets that was generated upon the hive up of the business operations, assets and liabilities of Chiumento Consulting Limited, the company has carried out a review and decided to allocate the assets to Intellectual Property and Branding and Goodwill being split as one third to two thirds. This is in relation to the directors' belief and assessment that the future cash flows of the Intellectual Property and Branding justifies the basis and has a 20 year useful life in respect of income streams.

Deferred income
Relates to the recognition of income in proportion to contractual arrangements. Income for outplacement fees is recognised on a proportional basis in line with the percentage completeness of the contracted service.

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

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


3. ACCOUNTING POLICIES - continued

Turnover
All turnover is accounted for net of VAT and in accordance with agreements in place, as follows:

Outplacement fees
Outplacement fees are recognised on a proportional basis in line with the percentage completeness of the contracted service

Placement fees
Interim placement fees are recognised in line with the hours worked by interim staff. Permanent placement fees are recognised in full on successful placement of candidates.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual Property and Branding are being amortised evenly over their estimated useful life of twenty years.

Development costs are being amortised evenly over their estimated useful life of three years.

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 - 33% straight line
Computer equipment - 33% on reducing balance

Investments in subsidiaries
Fixed asset investments are stated at cost less provision for diminution in value.

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

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


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the income statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

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


3. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research is written off to the income statement in the year in which it is incurred.
Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is capitalised and amortised over the period during which the company is expected to benefit.

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

Share-based payments
The company has issued share options to certain directors and employees. These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", which does not require equity-settled share based payment arrangements to be recognised as an expense.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by sections 399 of the Companies Act 2006 not to prepare group accounts.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

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


5. INTANGIBLE FIXED ASSETS
Intellectual
Property
and Development
Goodwill Branding costs Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 176,413 332,397 22,063 530,873
AMORTISATION
At 1 October 2023 125,147 149,011 22,063 296,221
Amortisation for year 9,494 12,065 - 21,559
At 30 September 2024 134,641 161,076 22,063 317,780
NET BOOK VALUE
At 30 September 2024 41,772 171,321 - 213,093
At 30 September 2023 51,266 183,386 - 234,652

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

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


6. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2023 3,898 4,123 8,021
Additions - 976 976
At 30 September 2024 3,898 5,099 8,997
DEPRECIATION
At 1 October 2023 3,898 982 4,880
Charge for year - 1,226 1,226
At 30 September 2024 3,898 2,208 6,106
NET BOOK VALUE
At 30 September 2024 - 2,891 2,891
At 30 September 2023 - 3,141 3,141

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 51,852
NET BOOK VALUE
At 30 September 2024 51,852
At 30 September 2023 51,852

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

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


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,226 83,304
Amounts owed by group undertakings 52,068 50,764
Prepayments and accrued income 937 1,238
121,231 135,306

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,551 5,514
Trade creditors 6,567 10,619
Amounts owed to group undertakings 51,752 51,752
Corporation tax 38,511 13,642
Social security and other taxes 6,020 6,388
VAT 21,186 21,410
Other creditors 12,730 15,867
Pension 3,055 -
Directors' current accounts 11,976 8,949
Accruals and deferred income 125,119 119,990
282,467 254,131

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,563 5,514
Bank loans - 2-5 years 16,507 11,028
Bank loans more 5 yr by instal 5,960 17,025
28,030 33,567

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

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


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,960 17,025

All creditors due after more than one year are due by instalments within 5 years.

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 33,581 39,081

The bank loan is secured over a fixed and floating charge over the company's assets.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,154 Ordinary 1p 12 12

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Pincott ACA, FCCA, ATT (Senior Statutory Auditor)
for and on behalf of APC Accountants Limited

14. CAPITAL COMMITMENTS

The company had no capital commitments, or contingent liabilities at the balance sheet date.

CHIUMENTO LIMITED (REGISTERED NUMBER: 05214342)

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


15. RELATED PARTY DISCLOSURES

During the period the company provided net financial assistance to group companies of £109,100 (2023: £65,600).

The company held interest free loans to and from other group companies during the year.
At the balance sheet date the amounts owed by the group companies was £52,068 (2023: £50,764), the amounts owed to group companies was £51,752 (2023: £51,752)

The company is a wholly owned subsidiary of Aldeburgh Holdings Limited a company registered in England & Wales. Registered office:7 St. John Street, Mansfield, Nottinghamshire, England, NG18 1QH. (Registration number 11723846).

16. ULTIMATE CONTROLLING PARTY

The controlling party is Mr I Gooden.