| Chores Ltd |
| Notes to the Accounts |
| for the year ended 31 January 2025 |
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| 1 |
Accounting policies |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
6 |
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6 |
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| 3 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Taxation and social security costs |
477 |
|
936 |
|
Other creditors |
1,150 |
|
1,098 |
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1,627 |
|
2,034 |
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| 4 |
Related party disclosures |
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The director has given a loan to the company, the balance of which is as stated at Note 4. This loan will be repaid when the company has sufficient funds to do so without affecting the cash flow of the company. Dividends, if paid, per the statement of changes in equity, were paid to Mrs Anne Shields. |
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| 5 |
Controlling party |
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The director, Anne H Shields, is the ultimate controlling party, owning 100% of the called up share capital. |
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| 6 |
Other information |
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Chores Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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11 Low Barholm |
|
Kilbarchan |
|
Renfrewshire |
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PA102ES |