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Registration number: 02716156

Charioturn Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Charioturn Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Charioturn Limited

Company Information

Directors

B Chandaria

K K Chandaria

Company secretary

K Chandaria

Registered office

1st Floor, Unitec House
2 Albert Place
Finchley Central
London
N3 1QB

Accountants

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Financial Statements of
Charioturn Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Charioturn Limited for the year ended 31 December 2024 which comprise the statement of comprehensive income, balance sheet, statement of changes in equity and the related notes, from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
https://www.icaew.com/regulation/a-z.

It is your duty to ensure that Charioturn Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Charioturn Limited. You consider that Charioturn Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Charioturn Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Use of our report

This report is made solely to the Board of Directors of Charioturn Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Charioturn Limited and state those matters that we have agreed to state to the Board of Directors of Charioturn Limited, as a body, in this report in accordance with ICAEW Technical Release TECH 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Charioturn Limited and its Board of Directors, as a body, for our work or for this report.

......................................

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

27 June 2025

 

Charioturn Limited

(Registration number: 02716156)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed asset

 

Tangible assets

4

51

64

Investments

5

288,775

275,107

 

288,826

275,171

Current assets

 

Debtors

6

222,633

189,571

Cash at bank and in hand

 

46,589

66,879

 

269,222

256,450

Creditors: Amounts falling due within one year

7

(9,859)

(14,090)

Net current assets

 

259,363

242,360

Net assets

 

548,189

517,531

Capital and reserves

 

Called up share capital

8

1,000

1,000

Profit and loss account

547,189

516,531

Shareholders' funds

 

548,189

517,531

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The statement of comprehensive income and directors' report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised for issue by the Board on 26 June 2025 and signed on its behalf by:
 

.........................................

B Chandaria
Director

 

Charioturn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England. The registered office address is shown on page 1.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except where otherwise disclosed in these accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Judgements in applying accounting policies

The preparation of financial statements in compliance with FRS 102 Section 1A Small Entities may require the use of certain critical accounting estimates. It may also require the directors to exercise judgement in applying the accounting policies.

In preparing these financial statements, the directors have had to make the following significant judgement:

- Determine to what extent there are indicators of impairment of the company's investments that are carried at cost. Factors taken into consideration in reaching such a decision include knowledge as to the economic viability and expected future financial performance of the investments.

There were no other significant judgements.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Turnover

Turnover represents property and other investment management fees receivable for services provided during the year.

Foreign currency transactions and balances

Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. Any differences are recognised in profit or loss. Any non-monetary items that are initially measured at historic cost in a foreign currency are not re-translated at each reporting date.

 

Charioturn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2

Accounting policies (continued)

Tax

The tax expense for the year comprises current and where applicable, deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that they are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Tangible assets

Tangible assets are stated in the balance sheet at historical cost, less any subsequent accumulated depreciation and impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, evenly over their estimated useful lives, as follows:

Asset class

Depreciation rate and method

Furniture, fittings and equipment

20% on reducing balance

Investments

Investments are measured in the company's balance sheet at cost less any accumulated impairment. Any impairment in value is written off to profit or loss.

An entity is treated as an associate where the company exercises significant influence in that it has the power to participate in the operating and financial policy decisions.

Cash at bank and in hand

This comprises cash at bank.

Financial instruments

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.

The company's cash at bank, trade and other debtors and other creditors are measured initially at transaction price and subsequently at amortised cost using the effective interest method, where appropriate.

 

Charioturn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2

Accounting policies (continued)

Dividends

Final equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

Pensions

Contributions payable by the company to private pension schemes of its employees are charged in the profit or loss in the year in which they are paid.

3

Employees and directors information

The company had 1 employee (2023 - 1) and 2 directors (2023 - 2) during the year. The directors did not receive any remuneration during the year (2023 - £nil).

4

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 January 2024

5,555

At 31 December 2024

5,555

Depreciation

At 1 January 2024

5,491

Charge for the year

13

At 31 December 2024

5,504

Carrying amount

At 31 December 2024

51

At 31 December 2023

64

 

Charioturn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Investments

2024
£

2023
£

Investment in associate

288,775

275,107

Associate

£

Cost

At 1 January 2024

275,107

Additions in the year

13,668

At 31 December 2024

288,775

Carrying amount

At 31 December 2024

288,775

At 31 December 2023

275,107

Details of associate are as follows:

Name

Registered office

Holding

Percentage of voting rights held

     

2024

2023

Charioturn Capital LLP

1st Floor
Unitec House
2 Albert Place
London
N3 1QB

Members' A capital

24.94%

26.36%

 

England

     

The principal activity of Charioturn Capital LLP, an LLP registered in England, is making investments.

 

Charioturn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

2024
£

2023
£

Trade debtors

30

-

Amounts due from associate

87,123

64,571

Prepayments

480

-

Other debtors

135,000

125,000

222,633

189,571

£125,000 (2023 - £125,000) of other debtors is due after more than one year.

7

Creditors: amounts due within one year

Note

2024
£

2023
£

Shareholders' loans

9

2,878

2,878

Corporation tax payable

 

2,976

3,547

Taxation and social security

 

705

765

Accruals

 

3,300

6,900

 

9,859

14,090

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       
 

Charioturn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Related party transactions

Loans from shareholders

2024

£

At start of year

2,878

At end of year

2,878

2023

£

At start of year

878

Advanced during the year

2,000

At end of year

2,878

Terms of loans from shareholders

The loans from shareholders are unsecured, interest free and repayable on demand.

10

Controlling party

There is no controlling party as no shareholder has more than 50% beneficial holding in the company.