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Registration number: 07416132

Chrysalis Not For Profit Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Chrysalis Not For Profit Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Chrysalis Not For Profit Limited

(Registration number: 07416132)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

160,718

106,843

Tangible assets

5

51,362

35,629

 

212,080

142,472

Current assets

 

Debtors

6

291,445

274,698

Cash at bank and in hand

 

814,837

842,549

 

1,106,282

1,117,247

Creditors: Amounts falling due within one year

7

(777,516)

(892,160)

Net current assets

 

328,766

225,087

Total assets less current liabilities

 

540,846

367,559

Creditors: Amounts falling due after more than one year

7

(417,581)

(315,397)

Provisions for liabilities

(3,780)

(6,769)

Net assets

 

119,485

45,393

Reserves

 

Profit and loss account

119,485

45,393

Surplus

 

119,485

45,393

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Chrysalis Not For Profit Limited

(Registration number: 07416132)
Statement of Financial Position as at 31 December 2024 (continued)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 25 August 2025 and signed on its behalf by:
 


Mrs Sharon Nicola Forester
Director

 

Chrysalis Not For Profit Limited

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

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
30 Angel Crescent
Bridgwater
Somerset
TA6 3EW

Principal activity

The principal activity of the company is education and training in counselling and hypnotherapy.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Chrysalis Not For Profit Limited

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

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% straight line

 

Chrysalis Not For Profit Limited

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

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Internally generated software

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Chrysalis Not For Profit Limited

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

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 22).

 

Chrysalis Not For Profit Limited

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

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 January 2024

133,554

133,554

Additions acquired separately

100,732

100,732

At 31 December 2024

234,286

234,286

Amortisation

At 1 January 2024

26,711

26,711

Amortisation charge

46,857

46,857

At 31 December 2024

73,568

73,568

Carrying amount

At 31 December 2024

160,718

160,718

At 31 December 2023

106,843

106,843

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

238,509

238,509

Additions

42,259

42,259

At 31 December 2024

280,768

280,768

Depreciation

At 1 January 2024

202,880

202,880

Charge for the year

26,526

26,526

At 31 December 2024

229,406

229,406

Carrying amount

At 31 December 2024

51,362

51,362

At 31 December 2023

35,629

35,629

 

Chrysalis Not For Profit Limited

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

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

95,451

70,000

Amounts owed by related parties

186,944

196,944

Other debtors

 

5,344

5,344

Prepayments

 

3,706

2,410

 

291,445

274,698

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

155,702

49,405

Taxation and social security

30,531

37,734

Accruals and deferred income

577,032

791,690

Other creditors

14,251

13,331

777,516

892,160

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

17,365

27,503

Deferred income

 

400,216

287,894

 

417,581

315,397

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Chrysalis Not For Profit Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

17,365

27,503