Registration number:
Year Ended
Chelsea Securities "B" Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Chelsea Securities "B" Limited
Company Information
Directors |
The Earl Cadogan KBE DL Viscount Chelsea DL The Hon J H M Bruce J D Gordon C V Ellingworth C K Antelme |
Company secretary |
J L Richards |
Registered office |
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Chelsea Securities "B" Limited
(Registration number: 00670040)
Balance Sheet as at 31 December 2020
Note |
2020 |
2019 |
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Fixed assets |
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Other financial assets |
1,763,494 |
1,743,779 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
Approved and authorised by the
.........................................
J D Gordon
Director
Chelsea Securities "B" Limited
Statement of Changes in Equity
Year Ended 31 December 2020
Share capital |
Other reserves |
Profit and loss account |
Total |
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At 1 January 2020 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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At 31 December 2020 |
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Share capital |
Other reserves |
Profit and loss account |
Total |
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At 1 January 2019 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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At 31 December 2019 |
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Chelsea Securities "B" Limited
Notes to the Financial Statements
Year Ended 31 December 2020
General information |
The company is a incorporated in England and Wales.
The address of its registered office is:
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention except that as detailed below certain items are shown at fair value.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.
Income from investments
Dividends and interest received from investments are recognised in the profit and loss account. Dividends are recognised on the date they become ex-div without making any adjustment for amounts accrued at the dates of purchase and sale of the securities. Interest is recognised on the accruals basis.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current 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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and
their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.
Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the
reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is
set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely
than not to be recovered based on current or future taxable profit.
Chelsea Securities "B" Limited
Notes to the Financial Statements
Year Ended 31 December 2020
Investments
Investments in equity shares and other securities which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.
Dividends
Final dividends are recognised when approved by the members and interim dividends are recognised when paid.
Financial instruments
Staff numbers |
The average number of persons employed by the company during the year was
Chelsea Securities "B" Limited
Notes to the Financial Statements
Year Ended 31 December 2020
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
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Non-current financial assets |
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Fair value |
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At 1 January 2020 |
1,743,779 |
Additions at cost |
790,950 |
Disposals at net book value |
(934,003) |
Movement in value |
162,768 |
At 31 December 2020 |
1,763,494 |
Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Creditors |
2020 |
2019 |
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Due within one year |
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Other creditors |
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Chelsea Securities "B" Limited
Notes to the Financial Statements
Year Ended 31 December 2020
Deferred tax and other provisions |
Deferred tax |
Total |
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At 1 January 2020 |
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Decrease in existing provisions |
( |
( |
At 31 December 2020 |
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The deferred tax provision arises from future tax payable in respect of the unrealised fair value movements on investments.
Audit report |
The audit report on the full accounts was signed by