Chancellor Financial Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05766948 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st May 2025

for

Chancellor Financial Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Farnell

D A Torkington

SECRETARY:

Mrs P D Farnell

REGISTERED OFFICE:

6 The Courtyard

Calvin Street

The Valley

Bolton

BL1 8PB

REGISTERED NUMBER:

05766948 (England and Wales)

FIXED ASSETS

Tangible assets

4

47,845

66,891

CURRENT ASSETS

Debtors

5

80,201

80,683

Cash at bank and in hand

359,772

287,339

439,973

368,022

CREDITORS

Amounts falling due within one year

6

211,589

173,609

NET CURRENT ASSETS

228,384

194,413

TOTAL ASSETS LESS CURRENT
LIABILITIES

276,229

261,304

PROVISIONS FOR LIABILITIES

11,961

16,723

NET ASSETS

264,268

244,581

CAPITAL AND RESERVES

Called up share capital

7

3

Capital redemption reserve

3

Retained earnings

264,262

244,575

SHAREHOLDERS' FUNDS

264,268

244,581

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th September 2025 and were signed on its behalf by:

G Farnell - Director

1.	STATUTORY INFORMATION

Chancellor Financial Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents both commission receivable from financial institutions and fees invoiced net of Value Added Tax for work undertaken in respect of independent financial services activities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% Straight Line Basis

Motor vehicles

-

25% on Reducing Balance

Computer equipment

-

25% Straight Line Basis

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 statements of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are recognised at amortised cost with changes recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates death in service and sickness insurance schemes for staff together with offering to contribute to employee personal pension schemes as part of their employment package. Contributions payable by the company are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1st June 2024

16,311

57,500

82,450

156,261

Additions

1,384

-

622

2,006

At 31st May 2025

17,695

57,500

83,072

158,267

DEPRECIATION

At 1st June 2024

15,979

19,766

53,625

89,370

Charge for year

219

9,434

11,399

21,052

At 31st May 2025

16,198

29,200

65,024

110,422

NET BOOK VALUE

At 31st May 2025

1,497

28,300

18,048

47,845

At 31st May 2024

332

37,734

28,825

66,891

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

Trade debtors

17,095

26,195

Other debtors

63,106

54,488

80,201

80,683

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

Trade creditors

8,567

7,517

Taxation and social security

141,249

137,906

Other creditors

61,773

28,186

211,589

173,609

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.05.25

31.05.24

value:

£

180

Ordinary

£0.01

1.80

90

A Ordinary

£0.01

0.90

30

B Ordinary

£0.01

0.30

3

The Ordinary, Ordinary A and Ordinary B shares have full voting and capital rights.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is G Farnell.