Company registration number 10527989 (England and Wales)
S & M Chantler Investments Limited
Unaudited financial statements
For the year ended 31 December 2023
S & M Chantler Investments Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
S & M Chantler Investments Limited
Balance sheet
As at 31 December 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
310
463
Investments
4
2,830,450
6,021,362
2,830,760
6,021,825
Current assets
Debtors
5
41,826,909
23,990,118
Cash at bank and in hand
16,296
86,025
41,843,205
24,076,143
Creditors: amounts falling due within one year
6
(45,965,207)
(28,131,388)
Net current liabilities
(4,122,002)
(4,055,245)
Total assets less current liabilities
(1,291,242)
1,966,580
Provisions for liabilities
(154,000)
Net (liabilities)/assets
(1,291,242)
1,812,580
Capital and reserves
Called up share capital
7
500
500
Non-distributable profits reserve
8
830,000
462,000
Distributable profit and loss reserves
(2,121,742)
1,350,080
Total equity
(1,291,242)
1,812,580
S & M Chantler Investments Limited
Balance sheet (continued)
As at 31 December 2023
31 December 2023
- 2 -
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
Mr S Chantler
Director
Company registration number 10527989 (England and Wales)
S & M Chantler Investments Limited
Notes to the financial statements
For the year ended 31 December 2023
- 3 -
1
Accounting policies
Company information
S & M 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. The business address is Stretton Hall Farm, Tilston, Malpas, Cheshire, SY14 7JA.
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 the revaluation of certain investments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The company meets its day to day working capital requirements through funding by the directors, and for this reason the directors have prepared the accounts on the going concern basis.
1.3
Turnover
Turnover represents interest receivable, other income on loans and sales of services and is recognised at the fair value of the consideration received.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% 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
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.
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.
S & M Chantler Investments Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 4 -
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.
Trade debtors are amounts receivable for commercial loans that have been provided in the ordinary course of business to customers.
1.7
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.
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.
1.8
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:
2023
2022
Number
Number
Total
1
1
S & M Chantler Investments Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
517
Depreciation and impairment
At 1 January 2023
54
Depreciation charged in the year
153
At 31 December 2023
207
Carrying amount
At 31 December 2023
310
At 31 December 2022
463
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
450
3,405,362
Other investments other than loans
2,830,000
2,616,000
2,830,450
6,021,362
Fixed asset investments revalued
Other investments other than loans represent listed investments and these have been valued according to their market valuation as at 31 December 2023. The historical cost of these investments is £2,000,000 (2022 - £2,000,000).
Fixed asset investments not carried at market value
Shares in group undertakings and participating interests have been measured at cost and represent shares held in associated undertakings.
S & M Chantler Investments Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in associates
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2023
3,405,362
2,616,000
6,021,362
Valuation changes
-
214,000
214,000
At 31 December 2023
3,405,362
2,830,000
6,235,362
Impairment
At 1 January 2023
-
-
-
Impairment losses
3,404,912
-
3,404,912
At 31 December 2023
3,404,912
-
3,404,912
Carrying amount
At 31 December 2023
450
2,830,000
2,830,450
At 31 December 2022
3,405,362
2,616,000
6,021,362
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
992,489
1,419,350
Other debtors
40,816,720
22,570,768
41,809,209
23,990,118
Deferred tax asset
17,700
41,826,909
23,990,118
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
450
450
Taxation and social security
46,492
Other creditors
45,964,757
28,084,446
45,965,207
28,131,388
S & M Chantler Investments Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 7 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
200
200
200
200
B Ordinary shares of £1 each
300
300
300
300
500
500
500
500
8
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
462,000
1,684,800
Non distributable profits in the year
368,000
(1,222,800)
At the end of the year
830,000
462,000
9
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Loan interest receivable
2023
2022
£
£
Entities under common control
412,025
78,536
The following amounts were outstanding at the reporting end date:
2023
2022
Amounts due to related parties
£
£
Directors
25,150,512
7,666,119
Entities under common control
20,811,252
20,416,252
The following amounts were outstanding at the reporting end date:
2023
2022
Amounts due from related parties
£
£
Entities under common control
37,511,096
19,612,428
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