ACCOUNTS - Final Accounts

Registered number: 05988612

CHALMED LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

CHALMED LIMITED

REGISTERED NUMBER: 05988612

BALANCE SHEET

AS AT 30 NOVEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	5		100		100
			100		100
Current assets
Stocks	6	61,292		40,796
Debtors: amounts falling due within one year	7	28,438		29,503
Cash at bank and in hand	8	16,017		1,668
		105,747		71,967
Creditors: amounts falling due within one year	9	(221,068)		(177,840)
Net current liabilities			(115,321)		(105,873)
Total assets less current liabilities			(115,221)		(105,773)

Net liabilities			(115,221)		(105,773)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(115,222)	(105,774)
	(115,221)	(105,773)

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CHALMED LIMITED

REGISTERED NUMBER: 05988612

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 October 2025.

D Chalmers

Director

The notes on pages 3 to 6 form part of these financial statements.

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CHALMED LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

1.	General information

Chalmed Limited is a private company, limited by shares, registered in England and Wales. The registered address is: 1 The Green, Richmond, Surrey, TW9 1PL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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CHALMED LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

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CHALMED LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

4.	Tangible fixed assets

		Fixtures & fittings
		£
	Cost or valuation
	At 1 December 2023	5,106
	At 30 November 2024	5,106
	Depreciation
	At 1 December 2023	5,106
	At 30 November 2024	5,106
	Net book value
	At 30 November 2024	-
	At 30 November 2023	-

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 December 2023	100
	At 30 November 2024	100

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CHALMED LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

6.	Stocks
		2024	2023
		£	£

Work in progress (goods to be sold)	61,292	40,796
	61,292	40,796

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	26,002	26,002
Other debtors	2,436	3,501
	28,438	29,503

8.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	16,017	1,668
	16,017	1,668

9.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	15,223	17,228
Other creditors	204,245	159,012
Accruals and deferred income	1,600	1,600
	221,068	177,840

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