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REGISTERED NUMBER: 02311938 (England and Wales)















Audited Financial Statements for the Year Ended 31 December 2023

for

Chemical and Agricultural Services
Limited

Chemical and Agricultural Services
Limited (Registered number: 02311938)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Chemical and Agricultural Services
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: W G Picton
D A Hutchinson
A McShane





REGISTERED OFFICE: Plex Lane
Halsall
Ormskirk
Lancs
L39 2BY





REGISTERED NUMBER: 02311938 (England and Wales)





AUDITORS: Xeinadin Audit Limited
116 Duke Street
Liverpool
Merseyside
L1 5JW

Chemical and Agricultural Services
Limited (Registered number: 02311938)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 538,200 767,857

CURRENT ASSETS
Stocks - 791,723
Debtors 5 2,420,682 1,236,759
Cash at bank and in hand 1,899,485 1,936,118
4,320,167 3,964,600
CREDITORS
Amounts falling due within one year 6 525,065 838,643
NET CURRENT ASSETS 3,795,102 3,125,957
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,333,302

3,893,814

PROVISIONS FOR LIABILITIES 44,181 71,858
NET ASSETS 4,289,121 3,821,956

CAPITAL AND RESERVES
Called up share capital 320,000 320,000
Share premium 88,600 88,600
Revaluation reserve 317,791 310,659
Other reserves 6,400 6,400
Retained earnings 3,556,330 3,096,297
SHAREHOLDERS' FUNDS 4,289,121 3,821,956

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 12 September 2024 and were signed on its behalf by:





W G Picton - Director


Chemical and Agricultural Services
Limited (Registered number: 02311938)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Chemical and Agricultural Services Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 02311938 and the registered office is Plex Lane, Halsall, Nr Ormskirk, Lancs, L39 7JY.

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

The principal activities of the company are agricultural, horticultural, chemical and fertiliser wholesalers, retailers and suppliers.

2. ACCOUNTING POLICIES

Basis of accounting
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, except for land and buildings which are recorded at deemed cost as specified in the policies below.

The company's main trading operations were moved into the parent company, HL Hutchinson Limited at the end of 31.12.23. The company still holds property and can settle all of its liabilities and will remain dormant.

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.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on experience and other factors considered to be relevant. Actual results may differ from these estimates.

The key judgements and sources of estimation uncertainty recognised in the financial statements are described below:

Impairment of slow moving and obsolete stock
As stated in the accounting policy stock is valued at the lower of cost and net realisable value with an allowance for slow moving and obsolete stock. This allowance is reviewed annually by the directors and is based on historical sales, future orders and age of the stock.
This estimate does not have a significant effect on the financial statements.

Estimated useful lives and residual values of fixed assets
As described in the accounting policies, depreciation and amortisation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised if necessary.
This estimate has a significant effect on the financial statements.

Allowance for doubtful debts
The company assesses its doubtful debt allowance at each reporting date. Key assumptions applied are the estimated debt recovery rates and the future market conditions that could affect recovery.

Chemical and Agricultural Services
Limited (Registered number: 02311938)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents net invoiced sales from the supply of agricultural, horticultural chemicals and fertilisers and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Income is recognised when the goods are despatched or the service provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost, 20% on cost, 10% on cost and at varying rates on cost

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses where applicable.

Land and buildings is comprised of freehold property. The company previously accounted for land and buildings at deemed cost as allowed by the transition to FRS102. They are now accounted for using the revaluation model and as allowed by FRS102.

Stocks
Inventories are stated at the lower of cost and estimated selling price less costs to sell. Inventories are recognised as an expense in the period in which the related revenue is recognised.
Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the inventory to its present location and condition.
At the end of each reporting period inventories are assessed for impairment. If an item of inventory is impaired, the identified inventory is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account.
Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account

Financial instruments
Trade debtors are recognised initially at fair value and subsequently measured at amortised cost less provision for impairment. A provision for impairment in trade debtors is established when there is evidence that the company will not be able to collect all amounts due.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business. Trade creditors are recognised 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.


Chemical and Agricultural Services
Limited (Registered number: 02311938)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. It is recognised on the anticipated gain that would be made in the event that land and buildings would be sold at the deemed cost.

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.

Cash and cash equivalents
Cash at bank and in hand is represented by amounts deposited at the company's bank accounts, cash is available immediately upon request.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 585,000 956,549 1,541,549
Additions - 60,679 60,679
Disposals - (993,945 ) (993,945 )
At 31 December 2023 585,000 23,283 608,283
DEPRECIATION
At 1 January 2023 35,100 738,592 773,692
Charge for year 11,700 85,886 97,586
Eliminated on disposal - (801,195 ) (801,195 )
At 31 December 2023 46,800 23,283 70,083
NET BOOK VALUE
At 31 December 2023 538,200 - 538,200
At 31 December 2022 549,900 217,957 767,857

Chemical and Agricultural Services
Limited (Registered number: 02311938)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Land and buildings were valued in 2020 by Armitstead Barnett LLP, the directors therefore revalued to open market value per the valuation.

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2019 155,000 - 155,000
Cost 430,000 23,283 453,283
585,000 23,283 608,283

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 937,684 1,181,560
Amounts owed by participating interests 1,452,763 -
Other debtors 30,235 55,199
2,420,682 1,236,759

Impairment losses/(gains) recognised in the profit and loss in respect of trade debtors during the period were £(4) (2022 £34,283).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 38,644 406,509
Taxation and social security 441,715 206,145
Other creditors 44,706 225,989
525,065 838,643

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


As discussed in note 2, the company's main trading operations were moved into the parent company, HL Hutchinson Limited from 31.12.23. At the date of this report the company still owns property and can continue as a going concern.

Rebecca Richards FCCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

Chemical and Agricultural Services
Limited (Registered number: 02311938)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. RELATED PARTY DISCLOSURES

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.

9. ULTIMATE CONTROLLING PARTY

No one party has control over Hutchinson Group Limited.

10. ULTIMATE PARENT COMPANY

The immediate parent company is HL Hutchinson Limited.

The ultimate parent company and the company that draws up group accounts is Hutchinson Group Limited, a company registered in England and Wales.
The registered office for both companies is Weasenham Lane, Wisbech, Cambridgeshire, PE 13 2RN.
Copies of the consolidated accounts can be obtained from Companies House, Cardiff.