| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 April 2025 |
| for |
| R.M. Chancellor & Company Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 April 2025 |
| for |
| R.M. Chancellor & Company Limited |
| R.M. Chancellor & Company Limited (Registered number: 03297940) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| R.M. Chancellor & Company Limited |
| Company Information |
| for the Year Ended 30 April 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| R.M. Chancellor & Company Limited (Registered number: 03297940) |
| Balance Sheet |
| 30 April 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Investments | 7 |
| Investment property | 8 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 9 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 10 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
11 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| R.M. Chancellor & Company Limited (Registered number: 03297940) |
| Balance Sheet - continued |
| 30 April 2025 |
| 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 were approved by the Board of Directors and authorised for issue on |
| R.M. Chancellor & Company Limited (Registered number: 03297940) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2025 |
| 1. | STATUTORY INFORMATION |
| R.M. Chancellor & Company Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about R.M. Chancellor & Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| R.M. Chancellor & Company Limited (Registered number: 03297940) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, 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. |
| 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 a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| R.M. Chancellor & Company Limited (Registered number: 03297940) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 5. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 May 2024 |
| and 30 April 2025 |
| AMORTISATION |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| 6. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 May 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Revaluations | ( |
) | ( |
) |
| At 30 April 2025 |
| DEPRECIATION |
| At 1 May 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| R.M. Chancellor & Company Limited (Registered number: 03297940) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 6. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 30 April 2025 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2021 | (8,496 | ) | - | (8,496 | ) |
| Valuation in 2022 | (14,372 | ) | - | (14,372 | ) |
| Valuation in 2025 | (7,420 | ) | - | (7,420 | ) |
| Cost | 540,288 | 54,100 | 594,388 |
| 510,000 | 54,100 | 564,100 |
| If the building had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 540,288 | 534,496 |
| Aggregate depreciation | 44,934 | 38,469 |
| Freehold land and buildings were valued on an open market basis on 30 April 2025 by the Directors . |
| 7. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 May 2024 |
| and 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| 8. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 May 2024 |
| Revaluations | (372 | ) |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| R.M. Chancellor & Company Limited (Registered number: 03297940) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 8. | INVESTMENT PROPERTY - continued |
| Fair value at 30 April 2025 is represented by: |
| £ |
| Valuation in 2021 | 76,000 |
| Valuation in 2022 | (5,628 | ) |
| Valuation in 2025 | (372 | ) |
| Cost | 130,000 |
| 200,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 130,000 | 130,000 |
| Investment property was valued on an open market basis on 30 April 2025 by the directors . |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Other debtors consists of accrued income of £40,140 (2024 - £86,117), prepayments of £38,713 (2024 - £30,566) and other debtors of £3,400 (2024 - £4,817). |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Other creditors consists of accruals of £2,443 (2024 - £5,285), directors loan accounts of £87,115 (2024 - £86,598) and other loans of £27,683 (2024 - £26,011). |
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Other creditors |
| R.M. Chancellor & Company Limited (Registered number: 03297940) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 288,661 | 300,587 |
| 12. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 13. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Property mortgage | 329,752 | 338,616 |
| The debts are secured in favour of Lloyds Bank plc by way of legal charge over the freehold property and fixed plant and machinery on the freehold property (fixed charge) and book debts and any other assets (floating charge). |