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REGISTERED NUMBER: 07485135 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

P C CHANNER FARMS LIMITED

P C CHANNER FARMS LIMITED (REGISTERED NUMBER: 07485135)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P C CHANNER FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: P C Channer
T P Channer





REGISTERED OFFICE: 25 St Thomas Street
Winchester
Hampshire
SO23 9HJ





REGISTERED NUMBER: 07485135 (England and Wales)





ACCOUNTANTS: Martin and Company
Two Brewers House
50 North Street
Thame
Oxfordshire
OX9 3BH

P C CHANNER FARMS LIMITED (REGISTERED NUMBER: 07485135)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,593
Tangible assets 5 1,719,117 1,550,322
1,719,117 1,553,915

CURRENT ASSETS
Stocks 518,766 531,430
Debtors 6 163,206 327,786
Cash at bank 634,170 618,605
1,316,142 1,477,821
CREDITORS
Amounts falling due within one year 7 366,546 618,349
NET CURRENT ASSETS 949,596 859,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,668,713

2,413,387

CREDITORS
Amounts falling due after more than one
year

8

(449,372

)

(388,101

)

PROVISIONS FOR LIABILITIES (328,500 ) (231,700 )
NET ASSETS 1,890,841 1,793,586

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,890,741 1,793,486
1,890,841 1,793,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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.

P C CHANNER FARMS LIMITED (REGISTERED NUMBER: 07485135)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 5th August 2024 and were signed on its behalf by:





P C Channer - Director


P C CHANNER FARMS LIMITED (REGISTERED NUMBER: 07485135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

P C Channer Farms 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Entitlements are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance, 15% on reducing balance and 4% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

P C CHANNER FARMS LIMITED (REGISTERED NUMBER: 07485135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Entitlements
£   
COST
At 1st January 2023 3,593
Disposals (3,593 )
At 31st December 2023 -
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 3,593

P C CHANNER FARMS LIMITED (REGISTERED NUMBER: 07485135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Improvements Tractors
to Plant and and
property machinery combines
£    £    £   
COST
At 1st January 2023 418,367 1,152,823 1,429,217
Additions 94,403 252,628 290,000
Disposals - (35,050 ) (261,500 )
At 31st December 2023 512,770 1,370,401 1,457,717
DEPRECIATION
At 1st January 2023 87,314 725,519 661,034
Charge for year 20,510 134,922 133,128
Eliminated on disposal - (32,039 ) (90,817 )
At 31st December 2023 107,824 828,402 703,345
NET BOOK VALUE
At 31st December 2023 404,946 541,999 754,372
At 31st December 2022 331,053 427,304 768,183

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 60,500 5,624 3,066,531
Additions - - 637,031
Disposals - - (296,550 )
At 31st December 2023 60,500 5,624 3,407,012
DEPRECIATION
At 1st January 2023 38,872 3,470 1,516,209
Charge for year 5,406 576 294,542
Eliminated on disposal - - (122,856 )
At 31st December 2023 44,278 4,046 1,687,895
NET BOOK VALUE
At 31st December 2023 16,222 1,578 1,719,117
At 31st December 2022 21,628 2,154 1,550,322

P C CHANNER FARMS LIMITED (REGISTERED NUMBER: 07485135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
Plant and and Motor
machinery combines vehicles Totals
£    £    £    £   
COST
At 1st January 2023 184,723 909,950 27,500 1,122,173
Additions 64,000 290,000 - 354,000
Disposals - (161,500 ) - (161,500 )
Transfer to ownership - - (27,500 ) (27,500 )
Reclassification/transfer - 98,500 - 98,500
At 31st December 2023 248,723 1,136,950 - 1,385,673
DEPRECIATION
At 1st January 2023 84,979 340,982 18,799 444,760
Charge for year 32,749 120,814 - 153,563
Eliminated on disposal - (24,225 ) - (24,225 )
Transfer to ownership - 14,775 (18,799 ) (4,024 )
At 31st December 2023 117,728 452,346 - 570,074
NET BOOK VALUE
At 31st December 2023 130,995 684,604 - 815,599
At 31st December 2022 99,744 568,968 8,701 677,413

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 102,421 224,128
VAT 26,018 66,788
Prepayments and accrued income 34,767 36,870
163,206 327,786

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 142,811 118,327
Trade creditors 118,681 339,898
Tax 46,934 66,230
Social security and other taxes 1,077 1,170
Directors' current accounts 455 2,306
Accrued expenses 56,588 90,418
366,546 618,349

P C CHANNER FARMS LIMITED (REGISTERED NUMBER: 07485135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 352,372 216,101
Directors' loan accounts 97,000 172,000
449,372 388,101