COMPANY REGISTRATION NUMBER:
07152226
|
Filleted Abridged Financial Statements |
|
|
Abridged Statement of Financial Position |
|
31 August 2025
Current assets
|
Debtors |
19 |
19 |
|
Cash at bank and in hand |
91,752 |
81,916 |
|
-------- |
-------- |
|
91,771 |
81,935 |
|
|
|
|
Creditors: amounts falling due within one year |
89,033 |
82,960 |
|
-------- |
-------- |
|
Net current assets/(liabilities) |
2,738 |
(
1,025) |
|
------- |
------- |
|
Total assets less current liabilities |
2,738 |
(
1,025) |
|
------- |
------- |
|
Net assets/(liabilities) |
2,738 |
(
1,025) |
|
------- |
------- |
|
|
|
Capital and reserves
|
Called up share capital |
1 |
1 |
|
Profit and loss account |
2,737 |
(
1,026) |
|
------- |
------- |
|
Shareholders funds/(deficit) |
2,738 |
(
1,025) |
|
------- |
------- |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 August 2025 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
28 May 2026
, and are signed on behalf of the board by:
|
Mr Russell Picot |
|
Director |
|
Company registration number:
07152226
|
Notes to the Abridged Financial Statements |
|
Year ended 31 August 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 44 baker Street, London, W1U 7RT.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After making appropriate enquiries, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4.
Summary audit opinion
The auditor's report dated
28 May 2026
was
unqualified
.
The senior statutory auditor was
Brij Taneja
, for and on behalf of
Flintham Mackenzie Audit Limited
.
5.
Directors' advances, credits and guarantees
At the year end, the company owed Mr Malcolm Pein, company secretary, £5,000 in interest free loan.
6.
Related party transactions
The company has taken advantage of the exemption available in accordance with FRS 102 section 1A, there is no requirement to disclose transactions entered into between two or more members of a group. The company is a wholly owned subsidiary of the group to which it is party to the transactions.
7.
Controlling party
The company is a wholly owned subsidiary of Chess in Schools and Communities, a registered charity and company incorporated in England and Wales (company number 07017640), the latter is the ultimate controlling party.