CHELSEA AUTOWORX LIMITED


Director	ABBAS-ZAIDI, Syed Naeem


Company Secretary	ABBAS-ZAIDI, Saher


Registered Address	Arch 45 New Kings Road
	Fulham
	SW6 3QR


Registered Number	06107552 (England and Wales)

Notes to the Financial Statements
for the year ended 31 January 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	12
Plant and machinery	20	-
Vehicles	15	-
Office Equipment	33	-

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	5		4

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 February 25	500	500
At 31 January 26	500	500
Amortisation and impairment
At 01 February 25	500	500
At 31 January 26	500	500
Net book value
At 31 January 26	-	-
At 31 January 25	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 February 25	30,000	39,137	18,790	10,028	97,955
Additions	-	2,273	-	-	2,273
Disposals	-	-	(3,000)	(5,700)	(8,700)
At 31 January 26	30,000	41,410	15,790	4,328	91,528
Depreciation and impairment
At 01 February 25	22,500	33,762	9,146	6,353	71,761
Charge for year	2,500	1,133	1,544	919	6,096
On disposals	-	-	(1,843)	(5,700)	(7,543)
At 31 January 26	25,000	34,895	8,847	1,572	70,314
Net book value
At 31 January 26	5,000	6,515	6,943	2,756	21,214
At 31 January 25	7,500	5,375	9,644	3,675	26,194

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	9,432	-
Other debtors	46,108	51,060
Prepayments and accrued income	6,330	5,569
Total	61,870	56,629

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	38,587	35,154
Bank borrowings and overdrafts	6,210	-
Taxation and social security	32,705	23,076
Other creditors	11,461	8,956
Accrued liabilities and deferred income	-	3,934
Total	88,963	71,120

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	19,173	30,659
Total	19,173	30,659

8.	Directors advances, credits and guarantees
	Included in other debtors is an amount of £9,684 (2025: £24,226) recoverable from the directors. The amount was repaid in full after the year end.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		21,214		26,194
			21,214		26,194
Current assets
Debtors	5	61,870		56,629
Cash at bank and on hand		25,346		28,031
		87,216		84,660
Creditors amounts falling due within one year	6	(88,963)		(71,120)
Net current assets (liabilities)			(1,747)		13,540
Total assets less current liabilities			19,467		39,734
Creditors amounts falling due after one year	7		(19,173)		(30,659)
Net assets			294		9,075
Capital and reserves
Profit and loss account			294		9,075
Shareholders' funds			294		9,075