Company Registration No. 13646606 (England and Wales)
FIVE CHALOBAH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
FIVE CHALOBAH LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
FIVE CHALOBAH LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1
1
Investments
4
95,033
95,033
95,034
95,034
Current assets
Debtors
5
1,059,101
477,128
Cash at bank and in hand
361,657
303,014
1,420,758
780,142
Creditors: amounts falling due within one year
6
(472,411)
(298,696)
Net current assets
948,347
481,446
Total assets less current liabilities
1,043,381
576,480
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1,043,380
576,479
Total equity
1,043,381
576,480

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her 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.

The financial statements were approved and signed by the director and authorised for issue on 4 June 2025
T T Chalobah
Director
Company Registration No. 13646606
FIVE CHALOBAH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Five Chalobah Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.

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.

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.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities 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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

FIVE CHALOBAH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities 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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors 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 classified as payable within one year 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.9
Taxation

The tax expense represents 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.

2
Employees

There were no employees during the current and previous year.

FIVE CHALOBAH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
3
Intangible fixed assets
Image rights
£
Cost
At 1 October 2023 and 30 September 2024
1
Amortisation and impairment
At 1 October 2023 and 30 September 2024
-
0
Carrying amount
At 30 September 2024
1
At 30 September 2023
1
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
95,033
95,033
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 October 2023 & 30 September 2024
95,033
Carrying amount
At 30 September 2024
95,033
At 30 September 2023
95,033
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
137,433
10,460
Other debtors
921,668
466,668
1,059,101
477,128
FIVE CHALOBAH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
156,634
138,714
Other taxation and social security
52,930
64,268
Other creditors
259,647
91,647
Accruals and deferred income
3,200
4,067
472,411
298,696

Other creditors includes amount of £14,647 (2023: £91,647) due to the director of the company and it is repayable on demand.

7
Related party transactions

As at 30 September 2024, the company owed £676,668 (2023: £466,668) to Five Chalobah Investment Limited of which Mr T T Chalobah is a shareholder and director. This loan is an interest free loan and it is repayable on demand.

 

As at 30 September 2024, the company owed £245,000 (2023: £0) to One Will (Holborn) Limited of which Mr T T Chalobah's brother, Mr N Chalobah, is a shareholder and director. This loan is an interest free loan and it is repayable on demand.

 

As at 30 September 2024, the company is owed £245,000 (2023: £0) by One Will Limited of which Mr T T Chalobah's brother, Mr N Chalobah, is a shareholder and director. This loan is an interest free loan and it is repayable on demand.

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