Chaltamo Ltd 14475855 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is a dispensing chemist in specialised stores Digita Accounts Production Advanced 6.30.9574.0 true false true 14475855 2023-09-01 2024-08-31 14475855 2024-08-31 14475855 core:CurrentFinancialInstruments 2024-08-31 14475855 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 14475855 core:Non-currentFinancialInstruments 2024-08-31 14475855 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 14475855 core:AdditionsToInvestments 2024-08-31 14475855 core:CostValuation 2024-08-31 14475855 core:LandBuildings 2024-08-31 14475855 bus:SmallEntities 2023-09-01 2024-08-31 14475855 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 14475855 bus:FilletedAccounts 2023-09-01 2024-08-31 14475855 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 14475855 bus:RegisteredOffice 2023-09-01 2024-08-31 14475855 bus:Director1 2023-09-01 2024-08-31 14475855 bus:Director2 2023-09-01 2024-08-31 14475855 bus:Director3 2023-09-01 2024-08-31 14475855 bus:Director4 2023-09-01 2024-08-31 14475855 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14475855 core:Goodwill 2023-09-01 2024-08-31 14475855 core:LandBuildings 2023-09-01 2024-08-31 14475855 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-01 2024-08-31 14475855 countries:EnglandWales 2023-09-01 2024-08-31 14475855 core:CostValuation 2023-08-31 14475855 2022-11-10 2023-08-31 14475855 2023-08-31 14475855 core:CurrentFinancialInstruments 2023-08-31 14475855 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 14475855 core:Non-currentFinancialInstruments 2023-08-31 14475855 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 14475855

Prepared for the registrar

Chaltamo Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Chaltamo Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Chaltamo Ltd

Company Information

Directors

T J Masamha

C Mlia

A Talib

M Talib

Registered office

10 Hawking Close
Colsterworth
Grantham
NG33 5GG

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Chaltamo Ltd

(Registration number: 14475855)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

481,167

-

Investments

5

1,914,539

-

 

2,395,706

-

Current assets

 

Debtors

6

28,318

4

Cash at bank and in hand

 

1,235

-

 

29,553

4

Creditors: Amounts falling due within one year

7

(1,075,979)

-

Net current (liabilities)/assets

 

(1,046,426)

4

Total assets less current liabilities

 

1,349,280

4

Creditors: Amounts falling due after more than one year

7

(1,439,445)

-

Net (liabilities)/assets

 

(90,165)

4

Capital and reserves

 

Called up share capital

4

4

Retained earnings

(90,169)

-

Shareholders' (deficit)/funds

 

(90,165)

4

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 May 2025 and signed on its behalf by:
 


T J Masamha
Director

 

Chaltamo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Hawking Close
Colsterworth
Grantham
NG33 5GG
England

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Exemption from preparing group accounts
The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Chaltamo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Asset class

Amortisation method and rate

Goodwill

Over 20 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

Chaltamo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Chaltamo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

 

4

Tangible assets

Land and buildings
£

Cost

Additions

481,167

At 31 August 2024

481,167

Depreciation

Carrying amount

At 31 August 2024

481,167

Included within the net book value of land and buildings above is £481,167 (2023 - £Nil) in respect of freehold land and buildings.
 

 

5

Investments

2024
£

2023
£

Investments in subsidiaries

1,914,539

-

Subsidiaries

£

Cost

At 1 September 2023

-

Additions

1,914,539

At 31 August 2024

1,914,539

Provision

Carrying amount

At 31 August 2024

1,914,539

At 31 August 2023

-

 

6

Debtors

2024
£

2023
£

Prepayments

28,314

-

Other debtors

4

4

28,318

4

 

Chaltamo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

 

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

444,379

-

Amounts due to related parties

 

590,086

-

Accruals and deferred income

 

1,400

-

Other creditors

 

40,114

-

 

1,075,979

-

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,439,445

-

 

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

43,571

-

Other borrowings

400,808

-

444,379

-

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,439,445

-

 

9

Related party transactions

Summary of transactions with key management


As at the balance sheet date, the company owed the directors £400,808 (2023 - £nil). This amount is included in other borrowings and no interest is charged.

 

Summary of transactions with other related parties

D L Ogle Limited
As at the year end, the company owed D L Ogle limited £463,500 (2023 - Nil). This amount is included in the amounts due to related parties.

Whistlers (Newark) Limited
As at the year end, the company owed Whistlers (Newark) Limited £180 (2023 - Nil). This amount is included in the amounts due to related parties.

Tavita Limited
As at the year end, the company owed Tavita Limited £126,406 (2023 - Nil). This amount is included in the amounts due to related parties.