COMPANY REGISTRATION NUMBER:
12825854
Chrysalis Consult Limited
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Filleted Unaudited Financial Statements
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Chrysalis Consult Limited
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Period from 20 August 2020 to 31 August 2021
Statement of financial position
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1
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Notes to the financial statements
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3
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Chrysalis Consult Limited
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Statement of Financial Position
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31 August 2021
Fixed assets
Current assets
Debtors
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6
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58,419
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Cash at bank and in hand
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10,605
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--------
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69,024
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Creditors: amounts falling due within one year
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7
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14,337
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--------
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Net current assets
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54,687
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--------
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Total assets less current liabilities
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57,829
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--------
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Net assets
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57,829
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--------
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Capital and reserves
Called up share capital
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100
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Profit and loss account
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57,729
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Shareholders funds
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57,829
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--------
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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.
For the period ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Chrysalis Consult Limited
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Statement of Financial Position (continued)
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31 August 2021
These financial statements were approved by the
board of directors
and authorised for issue on
1 February 2022
, and are signed on behalf of the board by:
Company registration number:
12825854
Chrysalis Consult Limited
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Notes to the Financial Statements
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Period from 20 August 2020 to 31 August 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 River Court, Chartham, Kent, CT4 7JN, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
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Equipment
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20% straight line
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Impairment of fixed assets
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.
Financial instruments
Finacial liabilities and equity instruments are classified according to the substance of the constractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4.
Employee numbers
The average number of persons employed by the company during the period, including the directors, amounted to 1.
5.
Tangible assets
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Equipment
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Total
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£
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£
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Cost
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At 20 August 2020
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–
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–
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Additions
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3,600
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3,600
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At 31 August 2021
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3,600
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3,600
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Depreciation
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At 20 August 2020
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–
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–
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Charge for the period
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458
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458
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At 31 August 2021
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458
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458
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Carrying amount
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At 31 August 2021
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3,142
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3,142
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6.
Debtors
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31 Aug 21
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£
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Trade debtors
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31,605
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Other debtors
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26,814
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58,419
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7.
Creditors:
amounts falling due within one year
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31 Aug 21
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£
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Corporation tax
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8,423
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Other creditors
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5,914
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14,337
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8.
Related party transactions
During the period, the director loaned the company £11,456 and withdrew £7,730. The balance at the year end was £3,726. No interest was charged on this balance.