Company No:
Contents
| DIRECTORS | Geoffrey Gibbons |
| Hugh Gilbert | |
| Roger McGough | |
| Emma McGuigan Burns | |
| Phillip Roberts | |
| Mark Wood |
| SECRETARY | Geoffrey Matthews |
| REGISTERED OFFICE | 143-145 |
| Old Church Street | |
| London | |
| SW3 6EB | |
| United Kingdom |
| COMPANY NUMBER | 02124272 (England and Wales) |
| AUDITOR | Dixon Wilson Audit Services LLP |
| Statutory Auditor | |
| 22 Chancery Lane | |
| London | |
| WC2A 1LS | |
| United Kingdom |
| BANKERS | C Hoare & Co |
| 37 Fleet Street | |
| London | |
| EC4P 4DQ |
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 4 |
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| 572,634 | 536,145 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 83,449 | 135,430 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 76,199 | 130,180 | ||
| Total assets less current liabilities | 648,833 | 666,325 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Equity reserve |
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| Other reserves |
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| Profit and loss account |
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| Total shareholders' funds |
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The financial statements of Chelsea Arts Club Limited (registered number:
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Phillip Roberts
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Chelsea Arts Club Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 143-145 Old Church Street, London, SW3 6EB, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
In assessing the company's ability to continue as a going concern, the directors have considered the liquidity position and reviewed cash flow forecasts for the foreseeable future. The company has adequate financial resources and as a consequence, the directors believe that the company is well placed to manage its business risks successfully and meet its liabilities as they fall due.
For this reason, the directors continue to adopt the going concern basis in preparing the accounts.
| Land and buildings |
Rentals under operating leases are charged on a straight-line basis over the lease term.
| As previously reported | Adjustment | As restated | ||||
| Year ended 31 March 2024 | £ | £ | £ | |||
| Profit and loss account | 602,178 | (184,338) | 417,840 | |||
| Leasehold Land and Buildings | 720,483 | (184,338) | 536,145 | |||
| Depreciation expense | 8,695 | 118 | 8,813 |
See Note 5 - Tangible assets.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including directors |
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| Land and buildings | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 April 2024 |
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| Additions |
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| At 31 March 2025 |
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| Accumulated depreciation | |||
| At 01 April 2024 |
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| Charge for the financial year |
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| At 31 March 2025 |
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| Net book value | |||
| At 31 March 2025 | 572,634 | 572,634 | |
| At 31 March 2024 | 536,145 | 536,145 |
The carrying value of leasehold land and buildings as at 31 March 2024 did not take into account historic depreciation in respect of leasehold land, as required under FRS 102. As a result, the 2024 comparatives have been restated to show an updated depreciation charge through the profit and loss account of £8,813 (previously £8,695), carrying value of tangible assets of £536,145 (previously £720,483) and profit and loss account reserves of £417,840 (previously £602,178).
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by related parties |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Accruals |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 2025 | 2024 | ||
| £ | £ | ||
| Not later than one year | 20,000 | 1,907 | |
| Due in between 2-5 years | 80,000 | 7,628 | |
| Due in over 5 years | 2,397,753 | 109,749 | |
| 2,497,753 | 119,284 |
During the year the company renewed its lease relating the land and buildings at 143-145 Old Church Street, London, SW3 6EB, United Kingdom. Under the terms of the lease, rent of £20,000 per annum is payable by either Chelsea Arts Club Limited or Chelsea Arts Club Trading Limited.
The audit report was signed by Oliver Jackson on behalf of Dixon Wilson Audit Services LLP.