Company Registration No. 06996270 (England and Wales)
CHENFELD LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
PAGES FOR FILING WITH REGISTRAR
CHENFELD LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
CHENFELD LTD
BALANCE SHEET
AS AT
31 DECEMBER 2017
31 December 2017
- 1 -
2017
2016
Notes
£
£
£
£
Current assets
Debtors
3
6,915
6,949
Cash at bank and in hand
15,222
35,497
22,137
42,446
Creditors: amounts falling due within one year
4
(22,444)
(42,753)
Net current liabilities
(307)
(307)
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(308)
(308)
Total equity
(307)
(307)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 and signed by the director and authorised for issue on 6 September 2018
P Mayes
Director
Company Registration No. 06996270
CHENFELD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
- 2 -
1
Accounting policies
Company information
Chenfeld Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
180 Great Portland Street, London, W1W 5QZ.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for
royalty income earned on an accruals basis
.
1.3
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has only basic financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method
.
Classification of financial liabilities
Basic financial liabilities, including creditors and bank loans, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction
.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2016: 1).
3
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
6,915
6,949
CHENFELD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 3 -
4
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
1,975
1,744
Other creditors
20,469
41,009
22,444
42,753
5
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
1
1
6
Related party transactions
Transactions with related parties
Included in other debtors there is an amount of £6,504 (2016: £6,504) due from related parties in which the director holds a participant interest in respect of expenses incurred by the company.
During the year the company paid artist fees to the director of £7,544 (2016: £205,903). This transaction was made at arm's length.