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Company Registration No. 11391179 (England and Wales)
Chronicle Computing Ltd Unaudited accounts for the year ended 31 May 2025
Chronicle Computing Ltd Unaudited accounts Contents
Page
Statement of financial position
3
Notes to the accounts
4
- 2 -
Chronicle Computing Ltd Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
692,853
527,574
Tangible assets
5
19,643
25,799
712,496
553,373
Current assets
Inventories
29,132
30,048
Debtors
6
86,705
113,266
Cash at bank and in hand
210,136
143,835
325,973
287,149
Creditors: amounts falling due within one year
7
(817,347)
(667,412)
Net current liabilities
(491,374)
(380,263)
Total assets less current liabilities
221,122
173,110
Creditors: amounts falling due after more than one year
8
(2)
(3,573)
Provisions for liabilities
Deferred tax
(1,598)
(2,925)
Net assets
219,522
166,612
Capital and reserves
Called up share capital
200
200
Profit and loss account
219,322
166,412
Shareholders' funds
219,522
166,612
For the year ending 31 May 2025 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 directors acknowledge their 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 of Directors and authorised for issue on 6 November 2025 and were signed on its behalf by
R Lassen Director Company Registration No. 11391179
- 3 -
Chronicle Computing Ltd Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Chronicle Computing Ltd is a private company, limited by shares, registered in England and Wales, registration number 11391179. The registered office is Unit 52, Shrivenham 100 Business Park, Majors Road, Watchfield, Swindon, SN6 8TY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% straight line
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation. Development costs are being amortised at 10% straight line and 7 years straight line.
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
- 4 -
Chronicle Computing Ltd Notes to the Accounts for the year ended 31 May 2025
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other
£
Cost
At 1 June 2024
711,126
Additions
264,091
At 31 May 2025
975,217
Amortisation
At 1 June 2024
183,552
Charge for the year
98,812
At 31 May 2025
282,364
Net book value
At 31 May 2025
692,853
At 31 May 2024
527,574
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 June 2024
28,737
3,379
11,668
43,784
Additions
-
-
781
781
At 31 May 2025
28,737
3,379
12,449
44,565
Depreciation
At 1 June 2024
9,018
486
8,481
17,985
Charge for the year
4,930
724
1,283
6,937
At 31 May 2025
13,948
1,210
9,764
24,922
Net book value
At 31 May 2025
14,789
2,169
2,685
19,643
At 31 May 2024
19,719
2,893
3,187
25,799
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
64,809
105,012
Accrued income and prepayments
3,911
3,892
Other debtors
17,985
4,362
86,705
113,266
- 5 -
Chronicle Computing Ltd Notes to the Accounts for the year ended 31 May 2025
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
3,572
3,484
VAT
94,723
73,576
Trade creditors
32,572
36,206
Taxes and social security
12,808
11,847
Other creditors
23,017
18,814
Accruals
4,110
-
Deferred income
646,545
523,485
817,347
667,412
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
2
3,573
9
Operating lease commitments
2025
2024
£
£
At 31 May 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
22,680
22,680
Later than one year and not later than five years
13,230
35,910
35,910
58,590
10
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Director's Loan
-
61,265
55,834
5,431
-
61,265
55,834
5,431
At the period end, a director owed the company £5,431. No interest has been charged on this loan and the balance was repaid after the period end.
11
Average number of employees
During the year the average number of employees was 15 (2024: 13).
- 6 -