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Company No: 05472768 (England and Wales)

# CHELONIA LIMITED

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

CHELONIA LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

CHELONIA LIMITED

## BALANCE SHEET

As at 30 June 2025
CHELONIA LIMITED

## BALANCE SHEET (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 5 | 250,250 |  | 251,513
Investments | 6 | 19,894 |  | 19,894
|  | 270,144 |  | 271,407
Current assets |  |  |  |
Stocks |  | 177,103 |  | 155,666
Debtors | 7 | 91,486 |  | 198,521
Cash at bank and in hand |  | 3,062,170 |  | 2,619,833
|  | 3,330,759 |  | 2,974,020
Creditors: amounts falling due within one year | 8 | ( 264,166) |  | ( 230,689)
Net current assets |  | 3,066,593 |  | 2,743,331
Total assets less current liabilities |  | 3,336,737 |  | 3,014,738
Provision for liabilities | 9 | ( 2,831) |  | ( 3,088)
Net assets |  | 3,333,906 |  | 3,011,650
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 3,333,806 |  | 3,011,550
Total shareholder's funds |  | 3,333,906 |  | 3,011,650

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Chelonia Limited (registered number: 05472768) were approved and authorised for issue by the Director on 25 February 2026. They were signed on its behalf by:

Dr N J C Tregenza Director |

CHELONIA LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
CHELONIA LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 1. Accounting policies

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.

##### General information and basis of accounting

Chelonia 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 The Barkhouse North Cliff, Mousehole, Penzance, TR19 6PH, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

##### Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provisions of services in the ordinary course of the company's activities. Turnover is shown net of the value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity;
And specific criteria have been met for each of the company's activities

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery | 25 % reducing balance
Fixtures and fittings | 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 4 |  | 4

#### 3. Dividends on equity shares

| 2025 |  | 2024
| £ |  | £
Amounts recognised as distributions to equity holders in the financial year: |  |  |
Interim dividend for the financial year ended 30 June 2025 of £5 (2024: £10) per ordinary share | 500 |  | 1,000

#### 4. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 July 2024 | 50,000 |  | 50,000
Disposals | ( 50,000) |  | ( 50,000)
At 30 June 2025 | 0 |  | 0
Accumulated amortisation |  |  |
At 01 July 2024 | 50,000 |  | 50,000
Disposals | ( 50,000) |  | ( 50,000)
At 30 June 2025 | 0 |  | 0
Net book value |  |  |
At 30 June 2025 | 0 |  | 0
At 30 June 2024 | 0 |  | 0

The aggregate amount of research and development expenditure recognised as an expense during the period is £98,077 (2024 - £76,064).

#### 5. Tangible assets

| Land and buildings |  | Plant and machinery |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 July 2024 | 237,603 |  | 80,416 |  | 20,290 |  | 338,309
Additions | 0 |  | 1,906 |  | 0 |  | 1,906
At 30 June 2025 | 237,603 |  | 82,322 |  | 20,290 |  | 340,215
Accumulated depreciation |  |  |  |  |  |  |
At 01 July 2024 | 0 |  | 69,599 |  | 17,197 |  | 86,796
Charge for the financial year | 0 |  | 2,705 |  | 464 |  | 3,169
At 30 June 2025 | 0 |  | 72,304 |  | 17,661 |  | 89,965
Net book value |  |  |  |  |  |  |
At 30 June 2025 | 237,603 |  | 10,018 |  | 2,629 |  | 250,250
At 30 June 2024 | 237,603 |  | 10,817 |  | 3,093 |  | 251,513

#### 6. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 July 2024 | 19,894 |  | 19,894
At 30 June 2025 | 19,894 |  | 19,894
Carrying value at 30 June 2025 | 19,894 |  | 19,894
Carrying value at 30 June 2024 | 19,894 |  | 19,894

#### 7. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 55,868 |  | 192,376
Other debtors | 35,618 |  | 6,145
| 91,486 |  | 198,521

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 24,907 |  | 19,819
Taxation and social security | 181,773 |  | 188,632
Other creditors | 57,486 |  | 22,238
| 264,166 |  | 230,689

There are no amounts included above in respect of which any security has been given by the small entity.

#### 9. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 3,088) |  | ( 3,371)
Credited to the Statement of Income and Retained Earnings | 257 |  | 283
At the end of financial year | ( 2,831) |  | ( 3,088)