Company Registration No. 06239184 (England and Wales)
CHARTWELL PARTNERS LTD
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
CHARTWELL PARTNERS LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 6
CHARTWELL PARTNERS LTD
ABBREVIATED BALANCE SHEET
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,421
3,631
Investments
2
40,525
-
42,946
3,631
Current assets
Debtors
485,480
1,131,349
Cash at bank and in hand
557,767
332,099
1,043,247
1,463,448
Creditors: amounts falling due within one year
(1,007,433)
(1,341,337)
Net current assets
35,814
122,111
Total assets less current liabilities
78,760
125,742
Provisions for liabilities
(484)
(726)
78,276
125,016
Capital and reserves
Called up share capital
3
333
200
Share premium account
94,604
54,212
Profit and loss account
(16,661)
70,604
Shareholders' funds
78,276
125,016
CHARTWELL PARTNERS LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2015 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 11 January 2016
Mr A J E Hickman
Mr J Birch
Director
Director
Company Registration No. 06239184
CHARTWELL PARTNERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Office equipment
33.33% reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Revenue recognition
Revenue is recognised when the booking of a speaker has been confirmed by the signing of a contract.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.8
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.9
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
CHARTWELL PARTNERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 June 2014
12,014
-
12,014
Additions
-
40,525
40,525
At 31 May 2015
12,014
40,525
52,539
Depreciation
At 1 June 2014
8,383
-
8,383
Charge for the year
1,210
-
1,210
At 31 May 2015
9,593
-
9,593
Net book value
At 31 May 2015
2,421
40,525
42,946
At 31 May 2014
3,631
-
3,631
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Chartwell Americas, LLC
USA
Ordinary Shares
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Chartwell Americas, LLC
Speaker agency
96,578
58,469
CHARTWELL PARTNERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 5 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
70 Ordinary A of £1 each
70
70
30 Ordinary B of £1 each
30
30
100 Ordinary C of £1 each
100
100
133 Ordinary D of £1 each
133
-
333
200
CHARTWELL PARTNERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 6 -
4
Related party relationships and transactions
Director's loan account
The following directors had loans during the year. The movement on these loans are as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr A J E Hickman - Director's loan account
-
22,429
832
-
22,430
831
Mr J Birch - Director's loan account
-
22,470
-
-
22,470
-
44,899
832
-
44,900
831