Company registration number 10502488 (England and Wales)
Oliver Miles Chantler Investments Limited
Unaudited financial statements
For the year ended 30 November 2023
Oliver Miles Chantler Investments Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Oliver Miles Chantler Investments Limited
Balance sheet
As at 30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
67,357
437,641
Current assets
Debtors
4
2,702,648
1,107,509
Cash at bank and in hand
31,362
17,006
2,734,010
1,124,515
Creditors: amounts falling due within one year
5
(2,828,664)
(1,592,975)
Net current liabilities
(94,654)
(468,460)
Net liabilities
(27,297)
(30,819)
Capital and reserves
Called up share capital
6
100
100
Non-distributable profits reserve
7
(83,529)
(47,531)
Distributable profit and loss reserves
56,132
16,612
Total equity
(27,297)
(30,819)

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 30 November 2023 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.

The 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 and signed by the director and authorised for issue on 19 August 2024
Mr O M Chantler
Director
Company registration number 10502488 (England and Wales)
Oliver Miles Chantler Investments Limited
Notes to the financial statements
For the year ended 30 November 2023
- 2 -
1
Accounting policies
Company information

Oliver Miles Chantler Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Cheshire, CW5 6PF, Nantwich.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The company has negative reserves at the year end which is primarily attributable to a fall in the valuation of its investments below their original cost. The company will continue to be funded by the director, therefore the director has assessed the company as a going concern.

1.3
Turnover

Turnover represents income receivable from dividends and interest.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Oliver Miles Chantler Investments Limited
Notes to the financial statements (continued)
For the year ended 30 November 2023
1
Accounting policies
(Continued)
- 3 -
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
100
Other investments other than loans
67,257
437,541
67,357
437,641
Fixed asset investments revalued

Other investments other than loans comprise listed investments, which are included at market value.

Oliver Miles Chantler Investments Limited
Notes to the financial statements (continued)
For the year ended 30 November 2023
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 December 2022
100
437,541
437,641
Valuation changes
-
(5,724)
(5,724)
Disposals
-
(364,560)
(364,560)
At 30 November 2023
100
67,257
67,357
Carrying amount
At 30 November 2023
100
67,257
67,357
At 30 November 2022
100
437,541
437,641
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,702,648
1,107,509
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
100
100
Corporation tax
27,978
17,137
Other creditors
2,800,312
1,575,459
Accruals and deferred income
274
279
2,828,664
1,592,975
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
Oliver Miles Chantler Investments Limited
Notes to the financial statements (continued)
For the year ended 30 November 2023
- 5 -
7
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
(47,531)
12,595
Non distributable profits in the year
(35,998)
(60,126)
At the end of the year
(83,529)
(47,531)

Non-distributable profits reserve represents the fair value decrease of investments below their original cost.

8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Interest receivable
2023
2022
£
£
Entities under common control
100,000
100,000

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Director
2,800,312
1,575,459

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
Entities under common control
2,702,648
1,107,509
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