Company Registration No. 13056629 (England and Wales)
Chelsea Accountants Ltd
Unaudited accounts
for the year ended 31 December 2024
Chelsea Accountants Ltd
Unaudited accounts
Contents
Chelsea Accountants Ltd
Company Information
for the year ended 31 December 2024
Company Number
13056629 (England and Wales)
Registered Office
145 Top Floor Flat
Stevenage Road
Fulham
LONDON
SW6 6PB
UNITED KINGDOM
Accountants
Chelsea Accountants Ltd
Top Floor Flat 145
Stevenage Road
Fulham
LONDON
SW6 6PB
Chelsea Accountants Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
2,058
1,521
Cash at bank and in hand
5,038
616
Creditors: amounts falling due within one year
(21,837)
(12,027)
Net current liabilities
(5,468)
(6,023)
Net liabilities
(3,410)
(4,502)
Called up share capital
1
1
Profit and loss account
(3,411)
(4,503)
Shareholders' funds
(3,410)
(4,502)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2025 and were signed on its behalf by
Kastriot Zefi
Director
Company Registration No. 13056629
Chelsea Accountants Ltd
Notes to the Accounts
for the year ended 31 December 2024
Chelsea Accountants Ltd is a private company, limited by shares, registered in England and Wales, registration number 13056629. The registered office is 145 Top Floor Flat, Stevenage Road, Fulham, LONDON, SW6 6PB, UNITED KINGDOM.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102’ The Financial Reporting Standard applicable in
the UK and Republic of Ireland’ (‘FRS 102’) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value
of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Computer equipment
20% Reducing Balance
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.
Chelsea Accountants Ltd
Notes to the Accounts
for the year ended 31 December 2024
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial
Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employees’ services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Chelsea Accountants Ltd
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
11,331
5,388
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,349
1,290
Loans from directors
18,102
7,937
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).