Company registration number:
04984950
Chancellor Management Limited
Unaudited filleted financial statements
31 December 2024
Chancellor Management Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Chancellor Management Limited
Directors and other information
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Directors |
Mr Navin Khattar |
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Mrs. Alison Khattar |
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Secretary |
Mr. Navin Khattar |
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Company number |
04984950 |
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Registered office |
2 Bond Street |
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Chelmsford |
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Essex |
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CM1 1GH |
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Business address |
2 Bond Street |
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Chelmsford |
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Essex |
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CM1 1GH |
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Accountants |
VSP Limited |
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2 Deansway |
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London |
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N2 0JF |
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Chancellor Management Limited
Statement of financial position
31 December 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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6 |
3,895 |
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4,869 |
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Investments |
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7 |
1,100,754 |
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1,088,128 |
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_______ |
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_______ |
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1,104,649 |
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1,092,997 |
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Current assets |
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Debtors: |
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Amounts falling due after more than one year |
8 |
148,845 |
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156,078 |
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Amounts falling due within one year |
8 |
1,332,700 |
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1,251,183 |
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Cash at bank and in hand |
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77,266 |
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90,016 |
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_______ |
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_______ |
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1,558,811 |
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1,497,277 |
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Creditors: amounts falling due |
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within one year |
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9 |
(
49,271) |
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(
60,969) |
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_______ |
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_______ |
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Net current assets |
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1,509,540 |
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1,436,308 |
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_______ |
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_______ |
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Total assets less current liabilities |
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2,614,189 |
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2,529,305 |
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Creditors: amounts falling due |
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after more than one year |
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10 |
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(
3,329,989) |
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(
3,246,622) |
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_______ |
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_______ |
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Net liabilities |
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(
715,800) |
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(
717,317) |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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11 |
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70,000 |
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70,000 |
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Profit and loss account |
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(
785,800) |
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(
787,317) |
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_______ |
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_______ |
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Shareholders deficit |
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(
715,800) |
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(
717,317) |
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_______ |
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_______ |
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
12 May 2025
, and are signed on behalf of the board by:
Mr Navin Khattar
Mrs. Alison Khattar
Director
Director
Company registration number:
04984950
Chancellor Management Limited
Statement of changes in equity
Year ended 31 December 2024
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Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 1 January 2023 |
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70,000 |
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(
1,055,260) |
(
985,260) |
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Profit for the year |
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267,943 |
267,943 |
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_______ |
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_______ |
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Total comprehensive income for the year |
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- |
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267,943 |
267,943 |
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_______ |
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At 31 December 2023 and 1 January 2024 |
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70,000 |
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(
787,317) |
(
717,317) |
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Profit for the year |
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1,517 |
1,517 |
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_______ |
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_______ |
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Total comprehensive income for the year |
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1,517 |
1,517 |
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_______ |
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At 31 December 2024 |
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70,000 |
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(
785,800) |
(
715,800) |
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_______ |
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Chancellor Management Limited
Notes to the financial statements
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Chancellor Management Limited, 2 Bond Street, Chelmsford, Essex, CM1 1GH.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings fixtures and equipment |
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20 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Staff costs
The aggregate payroll costs incurred during the year were:
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2024 |
2023 |
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£ |
£ |
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Wages and salaries |
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652,448 |
575,660 |
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Social security costs |
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81,606 |
72,055 |
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_______ |
_______ |
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734,054 |
647,715 |
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_______ |
_______ |
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5.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2023:
3
).
8.
Debtors
Debtors falling due within one year are as follows:
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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200,000 |
180,000 |
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Other debtors |
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1,132,700 |
1,071,183 |
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_______ |
_______ |
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1,332,700 |
1,251,183 |
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_______ |
_______ |
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Debtors falling due after one year are as follows:
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2024 |
2023 |
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£ |
£ |
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Other debtors |
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148,845 |
156,078 |
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_______ |
_______ |
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9.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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553 |
442 |
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Social security and other taxes |
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39,471 |
27,359 |
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Other creditors |
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9,247 |
33,168 |
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_______ |
_______ |
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49,271 |
60,969 |
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_______ |
_______ |
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10.
Creditors: amounts falling due after more than one year
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2024 |
2023 |
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£ |
£ |
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Other creditors |
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3,329,989 |
3,246,622 |
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_______ |
_______ |
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11.
Called up share capital
Issued, called up and fully paid
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2024 |
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2023 |
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No |
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£ |
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No |
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£ |
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Ordinary shares of £
1.00 each |
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70,000 |
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70,000 |
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70,000 |
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70,000 |
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_______ |
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