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REGISTERED NUMBER: 13498069 (England and Wales)















THE NEW CHAPEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 AUGUST 2023 TO 30 JULY 2024






THE NEW CHAPEL LIMITED (REGISTERED NUMBER: 13498069)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 6

THE NEW CHAPEL LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024







DIRECTOR: Dr F AlRashaid





REGISTERED OFFICE: Chapel Hine Avenue
Greylees
Sleaford
Lincolnshire
NG34 8ZW





REGISTERED NUMBER: 13498069 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

THE NEW CHAPEL LIMITED (REGISTERED NUMBER: 13498069)

BALANCE SHEET
30 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,907 -

CURRENT ASSETS
Stocks 4,000 -
Debtors 5 350,956 290,188
Cash at bank and in hand 25,178 31
380,134 290,219
CREDITORS
Amounts falling due within one year 6 406,036 201,678
NET CURRENT (LIABILITIES)/ASSETS (25,902 ) 88,541
TOTAL ASSETS LESS CURRENT LIABILITIES 22,005 88,541

CREDITORS
Amounts falling due after more than one year 7 71,308 108,417
NET LIABILITIES (49,303 ) (19,876 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (49,313 ) (19,886 )
SHAREHOLDERS' FUNDS (49,303 ) (19,876 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 July 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 August 2025 and were signed by:





Dr F AlRashaid - Director


THE NEW CHAPEL LIMITED (REGISTERED NUMBER: 13498069)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

1. STATUTORY INFORMATION

The New Chapel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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.

Taxation
Taxation for the period 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.


THE NEW CHAPEL LIMITED (REGISTERED NUMBER: 13498069)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

2. ACCOUNTING POLICIES - continued
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.

Going concern
The shareholder has confirmed that they will continue to give financial support to the company until such times at its financial position improves.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 56,237
At 30 July 2024 56,237
DEPRECIATION
Charge for period 8,330
At 30 July 2024 8,330
NET BOOK VALUE
At 30 July 2024 47,907

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 350,956 290,188

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,644 36,180
Trade creditors 23,062 -
Taxation and social security 42,641 -
Other creditors 303,689 165,498
406,036 201,678

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 71,308 108,417

THE NEW CHAPEL LIMITED (REGISTERED NUMBER: 13498069)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 107,952 144,597

A bank loan totalling £75,310 (2023: £101,441) is guaranteed by Aorta The Heart of Art Ltd, a company under common control.

A bank loan totalling £32,642 (2023: £43,156) is guaranteed by the director.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director £289,081 (2023: £161,310). The loan made from the director was unsecured, interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

Included in other debtors is £350,956 (2023: £290,188) owed to the company by Aorta The Heart of Art Ltd, a company under common control. This loan is unsecured, interest free and has no set terms for repayment.

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE NEW CHAPEL LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The New Chapel Limited for the period ended 30 July 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of The New Chapel Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The New Chapel Limited and state those matters that we have agreed to state to the director of The New Chapel Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that The New Chapel Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The New Chapel Limited. You consider that The New Chapel Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of The New Chapel 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 financial statements.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


22 August 2025