Company Registration No. 07508619 (England and Wales)
CHAMBO PROMOTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
CHAMBO PROMOTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CHAMBO PROMOTIONS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
3,418,970
3,110,104
Current assets
Debtors
4
2,716,748
2,153,217
Cash at bank and in hand
450,877
1,330,804
3,167,625
3,484,021
Creditors: amounts falling due within one year
5
(8,697)
(326,491)
Net current assets
3,158,928
3,157,530
Total assets less current liabilities
6,577,898
6,267,634
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
6,577,798
6,267,534
Total equity
6,577,898
6,267,634

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 June 2024 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 25 March 2025
Alex Oxlade-Chamberlain
Director
Company Registration No. 07508619
CHAMBO PROMOTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Chambo Promotions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts.

 

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held.

1.4
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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

CHAMBO PROMOTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.6
Taxation

The tax expense represents 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.

2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
3,418,970
3,110,104

The investment represents a portfolio of bonds held for long term capital appreciation. Fair value represents the quoted market price in an active market.

Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 July 2023
3,110,104
Valuation changes
308,866
At 30 June 2024
3,418,970
Carrying amount
At 30 June 2024
3,418,970
At 30 June 2023
3,110,104
CHAMBO PROMOTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
312,857
Other debtors
2,716,748
1,840,360
2,716,748
2,153,217

Included within other debtors is a balance of £59,421 (2023: creditor of £33,634) owed by the director to the company. This balance was cleared in full within 9-months of the year end.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,100
5,100
Corporation tax
222
229,989
Other taxation and social security
-
0
52,143
Other creditors
-
0
33,634
Accruals
3,375
5,625
8,697
326,491
6
Related party transactions

Included in other debtors is an amount of £ 1,878,683 (2023: £1,089,933) due from AOC Property Limited, a company which is related by virtue of having a common director. The loan is provided at a fixed rate of 2% per annum accruing monthly and is repayable on demand.

 

Included in other debtors is an amount of £16,500 (2023: £16,500) due from Sports Tech Investment Limited, a company which is related by virtue of having a common director. The loan is provided interest free and is repayable on demand.

 

Included in other debtors is an amount of £16,500 (2023: £16,500) due from Hox Group Developments Limited, a company which is related by virtue of having a common director. The loan is provided interest free and is repayable on demand.

 

Included in other debtors is an amount of £77,355 (2023: £75,838) due from Sennen International Limited, a company which is related by virtue of being under the control of close family members of whom, are the sole directors. The loan is provided at a fixed rate of 2% per annum and is repayable on demand.

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