| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST AUGUST 2023 TO 30TH JULY 2024 |
| FOR |
| CHOLTY35 HOLDINGS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST AUGUST 2023 TO 30TH JULY 2024 |
| FOR |
| CHOLTY35 HOLDINGS LIMITED |
| CHOLTY35 HOLDINGS LIMITED (REGISTERED NUMBER: 10048550) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST AUGUST 2023 TO 30TH JULY 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CHOLTY35 HOLDINGS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1ST AUGUST 2023 TO 30TH JULY 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 19-21 Middle Row |
| Stevenage |
| Hertfordshire |
| SG1 3AW |
| CHOLTY35 HOLDINGS LIMITED (REGISTERED NUMBER: 10048550) |
| BALANCE SHEET |
| 30TH JULY 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| CHOLTY35 HOLDINGS LIMITED (REGISTERED NUMBER: 10048550) |
| BALANCE SHEET - continued |
| 30TH JULY 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CHOLTY35 HOLDINGS LIMITED (REGISTERED NUMBER: 10048550) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1ST AUGUST 2023 TO 30TH JULY 2024 |
| 1. | STATUTORY INFORMATION |
| Cholty35 Holdings Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Further, the directors continue to support the company by way of director funding and have not indicated that such support will be withdrawn in the foreseeable future. Therefore the financial statements for the year ended 31st July 2024 have been prepared using the going concern basis of accounting. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
| Revenue recognition |
| Hardware and related products |
| Revenue and costs in relation to the sale of telecommunications hardware and related products are recognised in the income statement once installation has been completed and legal ownership of such items has transferred to the customer. Revenue and costs received or paid in advance are carried forward as deferred income or prepayments in the balance sheet. |
| Managed and related services |
| Revenue and costs in relation to the sale of managed telecommunications and related services are recognised in the income statement as the services are used by the customer. |
| Maintenance and related services |
| Revenue and costs in relation to the provision of maintenance and related services are recognised in the income statement on a straight line basis over the maintenance period where invoiced in advance or as used by the customer. Revenue and costs received or paid in advance are carry forward as deferred income or prepayments in the balance sheet. |
| Leased assets |
| Assets leased to customers are accounted for as operating leases such that revenue and costs are recognised on a straight line basis over the term of the contract. |
| Assets relating to leased income are capitalised and depreciated in accordance with the accounting policy for tangible fixed assets. |
| CHOLTY35 HOLDINGS LIMITED (REGISTERED NUMBER: 10048550) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST AUGUST 2023 TO 30TH JULY 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Financial instruments |
| The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102. |
| Trade and other receivables and payables |
| Trade and other receivables and payables are measured at amortised cost which approximates to fair value given the short term nature of these assets and liabilities. |
| Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts. Provision is made where there is objective evidence to suggest that the company will not be in a position to collect receivables as they fall due. Bad and Doubtful debts are written off in the income statement on identification. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash commitments. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| CHOLTY35 HOLDINGS LIMITED (REGISTERED NUMBER: 10048550) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1ST AUGUST 2023 TO 30TH JULY 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st August 2023 |
| Additions |
| At 30th July 2024 |
| DEPRECIATION |
| At 1st August 2023 |
| Charge for period |
| At 30th July 2024 |
| NET BOOK VALUE |
| At 30th July 2024 |
| At 31st July 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | OTHER FINANCIAL COMMITMENTS |
| The company had total other future financial commitments at the balance sheet date of £Nil (2022 - £18,451) in relation to property rental. |