Chartcross Limited

(Registration number: 02687840)
Balance Sheet as at 28 February 2025

For the financial year ending 28 February 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 members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 November 2025
 

......................................... M V Piggott Director

Chartcross Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
37/39 Station Road
New Milton
Hampshire
BH25 6HR
United Kingdom

Principal activity

The principal activity of the Company is the provision of computer consultancy services.

These financial statements were authorised for issue by the director on 24 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Chartcross Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance

Intangible assets

Intangible assets include cryptocurrencies which are held at fair value.

Gains or losses on revaluation are recognised through the statement of comprehensive income. Profit or losses on disposal are recognised through the profit and loss account.

Chartcross Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Financial instruments

Classification
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, current asset investments, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Chartcross Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4	Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 0 (2024 - 0).

Chartcross Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 March 2024	14,517	14,517
Disposals	(1,040)	(1,040)
At 28 February 2025	13,477	13,477
Depreciation
At 1 March 2024	12,648	12,648
Charge for the year	348	348
Eliminated on disposal	(859)	(859)
At 28 February 2025	12,137	12,137
Carrying amount
At 28 February 2025	1,340	1,340
At 29 February 2024	1,869	1,869

6

Debtors

Current	2025 £	2024 £
Other debtors	1,064	1,073
	1,064	1,073

7	Current intangible assets

	2025 £	2024 £
Other investments	1,195,217	1,515,293

Intangible assets held as current assets represent cryptocurrencies.
 

Chartcross Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

8

Creditors

	2025 £	2024 £
Due within one year
Trade creditors	3,914	4,600
Taxation and social security	26,170	30,240
Accruals and deferred income	6,284	5,459
Other creditors	21,235	16,724
	57,603	57,023

9

Dividends

Interim dividends paid

	2025 £	2024 £
Interim dividend of £0 (2024 - £533) per each Ordinary share	-	5,176

10	Related party transactions

M V Piggott
(Director)
During the year, M V Piggott paid for expenses on behalf of the company totalling £6,145 (2024: £265), M V Piggott withdrew drawing from the company of £3,693 (2024: £nil) and the company paid expenses on behalf of M V Piggott totalling £nil (2024: £nil). At the balance sheet date, the amount owed by the company to M V Piggott was £12,358 (2024: £9,906).