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Registered number: 07392434
Chelmax Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07392434
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,678 4,887
3,678 4,887
CURRENT ASSETS
Stocks 6 3,000 -
Debtors 7 8,758 1,939
Cash at bank and in hand 3,305 258,126
15,063 260,065
Creditors: Amounts Falling Due Within One Year 8 (5,334 ) (264,142 )
NET CURRENT ASSETS (LIABILITIES) 9,729 (4,077 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,407 810
PROVISIONS FOR LIABILITIES
Deferred Taxation (352 ) -
NET ASSETS 13,055 810
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 13,054 809
SHAREHOLDERS' FUNDS 13,055 810
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P George
Director
22 May 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Chelmax Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07392434 . The registered office is 2 St Johns Street, Plymouth, Devon, PL4 0NY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received for the provision of aerial photography services  in the ordinary course of the company's activities, and also for the subletting of commercial property.
Turnover is shown net of value added tax, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Property improvements 10 year straight line
Camera equipment, plant, machinery and model aircraft 20% straight line
Motor vehicles 25% straight line
Caravan 25% straight line
Computer and office equipment 33% straight line
2.5. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stock items.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 4,000
As at 30 September 2024 4,000
Amortisation
As at 1 October 2023 4,000
As at 30 September 2024 4,000
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Tangible Assets
Land & Property
Property improvements Camera equipment, plant, machinery and model aircraft Motor vehicles Caravan
£ £ £ £
Cost
As at 1 October 2023 38,316 89,911 13,230 4,750
Additions - 208 - -
As at 30 September 2024 38,316 90,119 13,230 4,750
Depreciation
As at 1 October 2023 38,135 85,339 13,155 4,750
Provided during the period 78 1,205 75 -
As at 30 September 2024 38,213 86,544 13,230 4,750
Net Book Value
As at 30 September 2024 103 3,575 - -
As at 1 October 2023 181 4,572 75 -
Computer and office equipment Total
£ £
Cost
As at 1 October 2023 4,990 151,197
Additions - 208
As at 30 September 2024 4,990 151,405
...CONTINUED
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Page 5
Depreciation
As at 1 October 2023 4,931 146,310
Provided during the period 59 1,417
As at 30 September 2024 4,990 147,727
Net Book Value
As at 30 September 2024 - 3,678
As at 1 October 2023 59 4,887
6. Stocks
2024 2023
£ £
Stock 3,000 -
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 8,758 1,939
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,733
Other creditors 3,360 240,250
Taxation and social security 1,974 22,159
5,334 264,142
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Capital Commitments
2024 2023
£ £
At the end of the period 30,000 30,000
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2023 Amounts advanced Amounts repaid Amounts written off As at 30 September 2024
£ £ £ £ £
Mr Philip George - 7,718 - - 7,718
The above loan is unsecured, interest free and repayable on demand.
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