Chatton Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08332120 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Chatton Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M S Hunter

SECRETARY:

C H C Hunter

REGISTERED OFFICE:

The Coach House

Church Hill

Chatton

Alnwick

Northumberland

NE66 5PY

REGISTERED NUMBER:

08332120 (England and Wales)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

3

374

-

CURRENT ASSETS

Debtors

4

142,350

50,908

Cash at bank

129,217

167,105

271,567

218,013

CREDITORS

Amounts falling due within one year

5

35,396

33,032

NET CURRENT ASSETS

236,171

184,981

TOTAL ASSETS LESS CURRENT LIABILITIES

236,545

184,981

PROVISIONS FOR LIABILITIES

6

64

-

NET ASSETS

236,481

184,981

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

236,381

184,881

SHAREHOLDERS' FUNDS

236,481

184,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 10 December 2018 and were signed by:

M S Hunter - Director

1.	STATUTORY INFORMATION

Chatton Associates Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered

to have been transferred to the buyer. Turnover from the supply of services represents the value of services

provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the

consideration received or receivable. Where a contract has only been partially completed at the balance sheet

date turnover represents the fair value of the service provided to date based on the stage of completion of the

contract activity at the balance sheet date. Where payments are received from customers in advance of services

provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is

provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each

asset on a straight-line basis over its expected useful life, as follows:

Computer equipment

-

20% per annum

Residual value represents the estimated amount which would currently be obtained from disposal of an asset,

after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at

the end of its useful life.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured

at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past

event, it is probable that the company will be required to settle that obligation and a reliable estimate can be

made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present

obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

468

At 31 March 2018

468

DEPRECIATION

Charge for year

94

At 31 March 2018

94

NET BOOK VALUE

At 31 March 2018

374

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

2,076

1,897

Other debtors

140,274

49,011

142,350

50,908

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

-

79

Taxation and social security

33,596

31,153

Other creditors

1,800

1,800

35,396

33,032

6.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

64

-

Deferred

tax

£

Provided during year

64

Balance at 31 March 2018

64

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2017

184,881

Profit for the year

51,500

At 31 March 2018

236,381

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and

31 March 2017:

31.3.18

31.3.17

£

£

M S Hunter

Balance outstanding at start of year

36,989

(2,208

)

Amounts advanced

170,964

134,405

Amounts repaid

(104,807

)

(95,208

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

103,146

36,989

10.	RELATED PARTY DISCLOSURES

Related party

Type of transaction

Amount (gross 31.3.18

)

Amount (gross 31.3.17

)

Balance receivable/(payable to related party as at 31.3.18

)

Balance receivable/(payable to related party as at 31.3.17

)

£

£

£

£

AJSH Consulting Ltd

Loan

7,000

-

3,500

-

Loan interest

105

-

105

-

A relative of the director of Chatton Associates Limited is a shareholder of AJSH Consulting Ltd.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is M S Hunter.