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REGISTERED NUMBER: 07134048 (England and Wales)















Unaudited Financial Statements for the Year Ended 5 April 2024

for

Chatcull Farms Limited

Chatcull Farms Limited (Registered number: 07134048)

Contents of the Financial Statements
for the Year Ended 5 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chatcull Farms Limited

Company Information
for the Year Ended 5 April 2024







DIRECTORS: Mrs E A Wain
M C Wain
R F Sheppard
Miss P J Wain
V A Wain





REGISTERED OFFICE: Chatcull Grange
Chatcull
Eccleshall
Staffordshire
ST21 6QF





REGISTERED NUMBER: 07134048 (England and Wales)

Chatcull Farms Limited (Registered number: 07134048)

Balance Sheet
5 April 2024

5/4/24 5/4/23
Notes £    £    £    £   
FIXED ASSETS
Biological Assets 4 303,975 298,475
Tangible assets 5 74,148 87,233
378,123 385,708

CURRENT ASSETS
Stocks 119,085 107,515
Debtors 6 108,796 91,844
Cash at bank 201,871 489,979
429,752 689,338
CREDITORS
Amounts falling due within one year 7 104,687 313,140
NET CURRENT ASSETS 325,065 376,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

703,188

761,906

PROVISIONS FOR LIABILITIES 14,607 16,574
NET ASSETS 688,581 745,332

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 688,481 745,232
688,581 745,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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.

Chatcull Farms Limited (Registered number: 07134048)

Balance Sheet - continued
5 April 2024


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 16 December 2024 and were signed on its behalf by:





M C Wain - Director


Chatcull Farms Limited (Registered number: 07134048)

Notes to the Financial Statements
for the Year Ended 5 April 2024


1. STATUTORY INFORMATION

Chatcull 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.

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

Dairy herd
Biological assets are recognised only when three recognition criteria have been fulfilled:
- the entity has control over the asset because of past events
- it is probable that future economic benefits associated with the asset will flow to the entity; and
- the fair value or cost of the asset can be measured reliably

The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses.
In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at either;
- Lower of cost and estimated selling price less costs to complete and sell; or
- fair value less costs to sell with any gain or loss arising on initial recognition of agricultural produce at fair value less costs to sell being included in profit or loss.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values of their useful lives.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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

Chatcull Farms Limited (Registered number: 07134048)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


2. ACCOUNTING POLICIES - continued

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 balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument in any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non- current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


Chatcull Farms Limited (Registered number: 07134048)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. BIOLOGICAL ASSETS
Dairy
Herd
£   
COST
At 6 April 2023 298,475
Additions 5,500
At 5 April 2024 303,975
NET BOOK VALUE
At 5 April 2024 303,975
At 5 April 2023 298,475

Chatcull Farms Limited (Registered number: 07134048)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 6 April 2023
and 5 April 2024 193,923
DEPRECIATION
At 6 April 2023 106,690
Charge for year 13,085
At 5 April 2024 119,775
NET BOOK VALUE
At 5 April 2024 74,148
At 5 April 2023 87,233

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5/4/24 5/4/23
£    £   
Trade debtors 99,026 84,620
Other debtors 9,770 7,224
108,796 91,844

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5/4/24 5/4/23
£    £   
Hire purchase contracts - 6,438
Trade creditors 40,566 23,910
Taxation and social security 12,475 4,869
Other creditors 51,646 277,923
104,687 313,140