Company No:
Contents
| DIRECTOR | Dr A Olsen |
| REGISTERED OFFICE | 264 Banbury Road |
| Oxford | |
| OX2 7DY | |
| United Kingdom |
| COMPANY NUMBER | 12687352 (England and Wales) |
| ACCOUNTANT | Shaw Gibbs Limited |
| 264 Banbury Road | |
| Oxford | |
| OX2 7DY |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 29,177 | 53,564 | |||
| Current assets | ||||
| Cash at bank and in hand |
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| 947,164 | 924,099 | |||
| Creditors: amounts falling due within one year | 4 | (
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| Net current assets | 565,326 | 512,451 | ||
| Total assets less current liabilities | 594,503 | 566,015 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 5 |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Chrysol Ventures Limited (registered number:
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Dr A Olsen
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Chrysol Ventures Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 264 Banbury Road, Oxford, OX2 7DY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
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.
| Plant and machinery |
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| Office equipment |
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| Computer equipment |
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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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other 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 are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including trade and other 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.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Plant and machinery | Office equipment | Computer equipment | Total | ||||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 01 July 2023 |
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| At 30 June 2024 |
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| Accumulated depreciation | |||||||
| At 01 July 2023 |
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| Charge for the financial year |
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| At 30 June 2024 |
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| Net book value | |||||||
| At 30 June 2024 |
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| At 30 June 2023 |
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| £ | £ | ||
| Amounts owed to related parties |
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| Amounts owed to director |
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| Accruals |
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| Taxation and social security |
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Included within other creditors is £4,867 (2023: £8,349) owed to the director. This amount is interest free and repayable on demand.
Included within creditors is £254,100 (2023: £254,100) owed to Chrysanna Ventures Limited, a company in which Dr A Olsen is sole director and shareholder. This amount is interest free and repayable on demand.