Funky Chalk Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 10691874 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

FUNKY CHALK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Robert Pearce

REGISTERED OFFICE:

Spring Valley Mills

Stanningley

Pudsey

West Yorkshire

LS28 6DW

REGISTERED NUMBER:

10691874 (England and Wales)

ACCOUNTANTS:

Syers McGill

9 Kerry Street

Horsforth

Leeds

West Yorkshire

LS18 4AW

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

58,234

65,849

58,234

65,849

CURRENT ASSETS

Stocks

1,117,968

1,192,238

Debtors

6

496,471

256,314

Cash at bank and in hand

320,652

359,760

1,935,091

1,808,312

CREDITORS

Amounts falling due within one year

7

420,266

498,612

NET CURRENT ASSETS

1,514,825

1,309,700

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,573,059

1,375,549

CREDITORS

Amounts falling due after more than one year

8

(169,820

)

(106,867

)

PROVISIONS FOR LIABILITIES

(14,559

)

(16,462

)

NET ASSETS

1,388,680

1,252,220

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

10

1,388,580

1,252,120

SHAREHOLDERS' FUNDS

1,388,680

1,252,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 27 October 2025 and were signed by:

Mr Robert Pearce - Director

1.	STATUTORY INFORMATION

Funky Chalk Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on cost

Stocks

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

Taxation

Taxation for the year 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.

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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

11,300

AMORTISATION

At 1 April 2024

and 31 March 2025

11,300

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

77,325

Additions

12,838

At 31 March 2025

90,163

DEPRECIATION

At 1 April 2024

11,476

Charge for year

20,453

At 31 March 2025

31,929

NET BOOK VALUE

At 31 March 2025

58,234

At 31 March 2024

65,849

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

103,230

62,992

Prepayments and accrued income

393,241

193,322

496,471

256,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans

133,833

126,732

Trade creditors

125,368

71,995

Tax

63,124

153,468

Social security and other taxes

6,290

11,305

VAT

70,641

99,495

Other creditors

11,879

31,208

Directors' current accounts

544

654

Accrued expenses

8,587

3,755

420,266

498,612

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans

169,820

106,867

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

100

Ordinary

£1

100

10.

RESERVES

Retained

earnings

£

At 1 April 2024

1,252,120

Profit for the year

183,460

Dividends

(47,000

)

At 31 March 2025

1,388,580

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr Robert Pearce.