18
31/07/2020
2020-07-31
false
false
false
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true
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true
false
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false
false
No description of principal activities is disclosed
2019-08-01
Sage Accounts Production 2020 Update 1 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
04462390
2019-08-01
2020-07-31
04462390
2020-07-31
04462390
2019-07-31
04462390
2018-08-01
2019-07-31
04462390
2019-07-31
04462390
2018-07-31
04462390
core:NetGoodwill
2019-08-01
2020-07-31
04462390
core:FurnitureFittingsToolsEquipment
2019-08-01
2020-07-31
04462390
bus:RegisteredOffice
2019-08-01
2020-07-31
04462390
bus:LeadAgentIfApplicable
2019-08-01
2020-07-31
04462390
bus:Agent1
2019-08-01
2020-07-31
04462390
bus:Director1
2019-08-01
2020-07-31
04462390
bus:Director2
2019-08-01
2020-07-31
04462390
bus:CompanySecretary1
2019-08-01
2020-07-31
04462390
core:NetGoodwill
2019-07-31
04462390
core:NetGoodwill
2020-07-31
04462390
core:FurnitureFittingsToolsEquipment
2019-07-31
04462390
core:FurnitureFittingsToolsEquipment
2020-07-31
04462390
core:AfterOneYear
2020-07-31
04462390
core:RetainedEarningsAccumulatedLosses
2018-08-01
2019-07-31
04462390
core:RetainedEarningsAccumulatedLosses
2019-08-01
2020-07-31
04462390
core:WithinOneYear
2020-07-31
04462390
core:WithinOneYear
2019-07-31
04462390
core:ShareCapital
2020-07-31
04462390
core:ShareCapital
2019-07-31
04462390
core:RetainedEarningsAccumulatedLosses
2020-07-31
04462390
core:RetainedEarningsAccumulatedLosses
2019-07-31
04462390
core:ShareCapital
2018-07-31
04462390
core:RetainedEarningsAccumulatedLosses
2018-07-31
04462390
core:NetGoodwill
2019-07-31
04462390
core:FurnitureFittingsToolsEquipment
2019-07-31
04462390
bus:Director1
2020-07-31
04462390
bus:Director1
2018-07-31
04462390
bus:Director2
2018-07-31
04462390
bus:Director1
2018-08-01
2019-07-31
04462390
bus:Director2
2018-08-01
2019-07-31
04462390
bus:SmallEntities
2019-08-01
2020-07-31
04462390
bus:AuditExemptWithAccountantsReport
2019-08-01
2020-07-31
04462390
bus:FullAccounts
2019-08-01
2020-07-31
04462390
bus:SmallCompaniesRegimeForAccounts
2019-08-01
2020-07-31
04462390
bus:PrivateLimitedCompanyLtd
2019-08-01
2020-07-31
Company registration number:
04462390
CHARLI LIMITED
Unaudited filleted financial statements
31 July 2020
CHARLI LIMITED
Contents
Directors and other information
Directors report
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
CHARLI LIMITED
Directors and other information
|
|
|
|
Directors
|
Mr Ismail Ebrahim
|
|
|
Mr Samir Ebrahim
|
|
|
|
|
|
|
|
Secretary
|
Ismail Ebrahim
|
|
|
|
|
|
|
|
Company number
|
04462390
|
|
|
|
|
|
|
|
Registered office
|
Textile House, Building One
|
|
|
Cline Road, New Southgate
|
|
|
London
|
|
|
N11 2LX
|
|
|
|
|
|
|
|
Business address
|
Textile House, Building One
|
|
|
Cline Road, New Southgate
|
|
|
London
|
|
|
N11 2LX
|
|
|
|
|
|
|
|
Accountants
|
M Hussain
|
|
|
Chartered Certified Accountants
|
|
|
47 Hillfield Avenue
|
|
|
London
|
|
|
NW9 6NY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers
|
Coutts Bank
|
|
|
|
|
|
NatWest Bank
|
|
|
|
CHARLI LIMITED
Directors report
Year ended 31 July 2020
The directors present their report and the unaudited financial statements of the company for the year ended 31 July 2020.
Directors
The directors who served the company during the year were as follows:
|
Mr Ismail Ebrahim
|
Mr Samir Ebrahim
|
|
Dividends
The directors do not recommend the payment of a dividend.
Directors responsibilities statement
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently; and
-
make judgments and accounting estimates that are reasonable and prudent.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
30 April 2021
and signed on behalf of the board by:
Mr Ismail Ebrahim
Director
CHARLI LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of CHARLI LIMITED
Year ended 31 July 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CHARLI LIMITED for the year ended 31 July 2020 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of CHARLI LIMITED, as a body, in accordance with the terms of our engagement letter dated 13 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of CHARLI LIMITED and state those matters that we have agreed to state to the board of directors of CHARLI LIMITED as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CHARLI LIMITED and its board of directors as a body for our work or for this report.
It is your duty to ensure that CHARLI LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of CHARLI LIMITED. You consider that CHARLI LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of CHARLI LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
M Hussain
Chartered Certified Accountants
47 Hillfield Avenue
London
NW9 6NY
30 April 2021
CHARLI LIMITED
Statement of financial position
31 July 2020
|
|
|
2020
|
|
|
|
2019
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
23,013
|
|
|
|
28,766
|
|
|
Tangible assets
|
|
6
|
21,743
|
|
|
|
29,652
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
44,756
|
|
|
|
58,418
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
204,387
|
|
|
|
210,440
|
|
|
Debtors
|
|
7
|
122,325
|
|
|
|
162,977
|
|
|
Cash at bank and in hand
|
|
|
207,980
|
|
|
|
197,690
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
534,692
|
|
|
|
571,107
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
8
|
(
443,650)
|
|
|
|
(
388,730)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
91,042
|
|
|
|
182,377
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
135,798
|
|
|
|
240,795
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
9
|
|
|
(
50,000)
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
4,131)
|
|
|
|
(
5,634)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
81,667
|
|
|
|
235,161
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
3,000
|
|
|
|
3,000
|
Profit and loss account
|
|
|
|
|
78,667
|
|
|
|
232,161
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
81,667
|
|
|
|
235,161
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 April 2021
, and are signed on behalf of the board by:
Mr Ismail Ebrahim
Director
Company registration number:
04462390
CHARLI LIMITED
Statement of changes in equity
Year ended 31 July 2020
|
|
Called up share capital
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 August 2018
|
|
3,000
|
|
155,535
|
158,535
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year
|
|
|
|
76,626
|
76,626
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
76,626
|
76,626
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2019 and 1 August 2019
|
|
3,000
|
|
237,182
|
240,182
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year
|
|
|
|
(
158,515)
|
(
158,515)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
(
158,515)
|
(
158,515)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2020
|
|
3,000
|
|
78,667
|
81,667
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHARLI LIMITED
Notes to the financial statements
Year ended 31 July 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Textile House, Building One, Cline Road, New Southgate, London, N11 2LX.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as going concern for the forseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Goodwill |
- |
5 % |
straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Fittings fixtures and equipment
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
18
(2019:
20
).
5.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 August 2019 and 31 July 2020
|
143,822
|
143,822
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 August 2019
|
115,056
|
115,056
|
|
|
|
|
|
Charge for the year
|
5,753
|
5,753
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2020
|
120,809
|
120,809
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 July 2020
|
23,013
|
23,013
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2019
|
28,766
|
28,766
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Fixtures, fittings and equipment
|
Total
|
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 August 2019 and 31 July 2020
|
48,031
|
48,031
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 August 2019
|
18,378
|
18,378
|
|
|
|
|
|
|
Charge for the year
|
7,910
|
7,910
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 July 2020
|
26,288
|
26,288
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 July 2020
|
21,743
|
21,743
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 July 2019
|
29,653
|
29,653
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
97,384
|
130,025
|
|
Other debtors
|
|
24,941
|
32,952
|
|
|
|
_______
|
_______
|
|
|
|
122,325
|
162,977
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Trade creditors
|
|
156,489
|
52,749
|
|
Corporation tax
|
|
(
18,208)
|
13,347
|
|
Social security and other taxes
|
|
6,509
|
33,267
|
|
Other creditors
|
|
298,860
|
289,367
|
|
|
|
_______
|
_______
|
|
|
|
443,650
|
388,730
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
50,000
|
-
|
|
|
|
_______
|
_______
|
|
|
|
|
|
10.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr Ismail Ebrahim
|
-
|
6,000
|
6,000
|
|
|
|
|
Mr Samir Ebrahim
|
-
|
-
|
-
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr Ismail Ebrahim
|
(
2,000)
|
2,000
|
-
|
|
|
|
|
Mr Samir Ebrahim
|
(
2,000)
|
2,000
|
-
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
(
4,000)
|
4,000
|
-
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|