Chelsea Management Services Ltd
Unaudited Financial Statements
For Filing with Registrar
For the year ended 31 May 2018
Company Registration No. 03564583 (England and Wales)
Chelsea Management Services Ltd
Company Information
Directors
M Foley
L Foley
Secretary
Mr A Shaw
Company number
03564583
Registered office
Devonshire House
60 Goswell Road
London
EC1M 7AD
Business address
Rawley & Co.
P O Box 688
Kingston St.Mary
Taunton
Somerset
TA2 8ZQ
Chelsea Management Services Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Chelsea Management Services Ltd
Balance Sheet
As at 31 May 2018
31 May 2018
Page 1
2018
2017
Notes
£
£
£
£
Current assets
Debtors
3
14,688
16,622
Cash at bank and in hand
1,957
1,889
16,645
18,511
Creditors: amounts falling due within one year
4
(875)
(1,879)
Net current assets
15,770
16,632
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
15,769
16,631
Total equity
15,770
16,632
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has 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 by the board of directors and authorised for issue on 26 February 2019 and are signed on its behalf by:
L Foley
Director
Company Registration No. 03564583
Chelsea Management Services Ltd
Notes to the Financial Statements
For the year ended 31 May 2018
Page 2
1
Accounting policies
Company information
Chelsea Management Services Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Devonshire House, 60 Goswell Road, London, EC1M 7AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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 pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business
.
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 only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments at fair value.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
2
Employees
The average monthly number of persons employed by the company during the year was nil (2017: nil).
Chelsea Management Services Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 May 2018
Page 3
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Corporation tax recoverable
213
-
Other debtors
14,475
16,622
14,688
16,622
4
Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
-
379
Other creditors
875
1,500
875
1,879
5
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1
1
1
6
Directors' transactions
At the year end, included within other debtors is an amount of £14,475 (2017: £16,622) as due from the director. Interest is charged on the loan at the HMRC official rate.