| Chesterfield SSL Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs and, where applicable, is measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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| 3 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Other debtors |
100 |
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100 |
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| 4 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Other creditors |
201,091 |
|
195,809 |
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| 5 |
Related party transactions |
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The Parent Company provided an interest free loan to the company which is repayable on demand. The amount outstanding at the year end was £200,806 (2024: £165,806).
A UK registered company, owned and controlled by the director, provided consultancy services to Chesterfield SSL Limited charging fees of £nil (2024: £30,000). |
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| 6 |
Controlling party |
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The Parent Company is Orlow Investment Corp which is incorporated in the British Virgin Islands.
The ultimate controlling parties are, KSL Trustees Limited, a company incorporated in the UK, and Orlow Investment Corp as shareholder. |
| 7 |
Going concern |
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The Balance Sheet of the company shows a net liability position at 31 March 2025. However the Director considers it appropriate to prepare the accounts on a going concern basis on the grounds that the intention of the Parent Company is to continue to support the company for the foreseeable future. The accounts do not include any adjustments that would result from a withdrawal of this support. |
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| 8 |
Other information |
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Chesterfield SSL Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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536 Linen Hall |
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162-168 Regent Street |
|
London |
|
W1B 5TD |