Company Registration No. 02167920 (England and Wales)
CHAMBERLAND LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
CHAMBERLAND LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CHAMBERLAND LIMITED
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
45,000
200,000
Current assets
Debtors
4
60,288
Cash at bank and in hand
38,957
187,196
99,245
187,196
Creditors: amounts falling due within one year
5
(38,731)
(186,907)
Net current assets
60,514
289
Net assets
105,514
200,289
Capital and reserves
Called up share capital
100
30
Revaluation reserve
6
44,900
199,900
Profit and loss reserves
60,514
359
Total equity
105,514
200,289
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 17 December 2021 and are signed on its behalf by:
Mr S Dye
Director
Company Registration No. 02167920
CHAMBERLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 2 -
1
Accounting policies
Company information
Chamberland Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Unit 8, Broomsleigh Business Park, Worsley Bridge Road, LONDON, SE26 5BN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
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 financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was: NIL
2021
2020
Number
Number
Total
CHAMBERLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 3 -
3
Fixed asset investments
2021
2020
£
£
Other investments other than loans
45,000
200,000
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2020
200,000
Valuation changes
(155,000)
At 31 March 2021
45,000
Carrying amount
At 31 March 2021
45,000
At 31 March 2020
200,000
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
60,288
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
750
500
Other creditors
37,981
186,407
38,731
186,907
6
Revaluation reserve
2021
2020
£
£
At the beginning of the year
199,900
349,900
Fair value adjustment to investments
(155,000)
(150,000)
At the end of the year
44,900
199,900
CHAMBERLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 4 -
7
Contingent liabilities
The company is part of an arrangement with the Bank of Scotland, which also includes its wholly owned subsidiary (see note 6) such that each company acts a joint guarantor for the overdraft facilities of the other.