Company Registration No. 07647763 (England and Wales)
CHRYSALIS CHANGE MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
CHRYSALIS CHANGE MANAGEMENT LIMITED
COMPANY INFORMATION
Director
R Holt
Secretary
Mrs K J Holt
Company number
07647763
Registered office
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Bankers
HSBC Bank plc
12 Manchester Road
Burnley
Lancashire
BB11 1JH
CHRYSALIS CHANGE MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CHRYSALIS CHANGE MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,804
1,464
Current assets
Debtors
4
27,157
37,123
Cash at bank and in hand
72,091
65,577
99,248
102,700
Creditors: amounts falling due within one year
5
(32,115)
(24,991)
Net current assets
67,133
77,709
Total assets less current liabilities
68,937
79,173
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
68,935
79,171
Total equity
68,937
79,173
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 March 2019 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 16 December 2019
R Holt
Director
Company Registration No. 07647763
CHRYSALIS CHANGE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information
Chrysalis Change Management Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.
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
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has adopted the going concern basis in preparing the financial statements.
true
1.3
Turnover
Turnover represents amounts receivable for services provided.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost
,
net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Cash and cash equivalents
Cash and cash equivalents
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.
1.6
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.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
CHRYSALIS CHANGE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 3 -
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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.7
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.
1.8
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2018 - 1).
CHRYSALIS CHANGE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2018
2,854
Additions
605
At 31 March 2019
3,459
Depreciation and impairment
At 1 April 2018
1,390
Depreciation charged in the year
265
At 31 March 2019
1,655
Carrying amount
At 31 March 2019
1,804
At 31 March 2018
1,464
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
17,499
27,229
Other debtors
9,658
9,894
27,157
37,123
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
-
32
Corporation tax
13,939
15,622
Other taxation and social security
15,176
7,837
Other creditors
3,000
1,500
32,115
24,991
CHRYSALIS CHANGE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 5 -
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
1 Ordinary A share of £1 each
1
1
2
2