Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312025-05-142025-05-15true2023-09-01truefalsefalseNo description of principal activity1716 03449063 2023-09-01 2024-08-31 03449063 2022-09-01 2023-08-31 03449063 2024-08-31 03449063 2023-08-31 03449063 2022-09-01 03449063 c:Director3 2023-09-01 2024-08-31 03449063 d:Buildings 2023-09-01 2024-08-31 03449063 d:Buildings 2024-08-31 03449063 d:Buildings 2023-08-31 03449063 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 03449063 d:PlantMachinery 2023-09-01 2024-08-31 03449063 d:PlantMachinery 2024-08-31 03449063 d:PlantMachinery 2023-08-31 03449063 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 03449063 d:MotorVehicles 2023-09-01 2024-08-31 03449063 d:OfficeEquipment 2023-09-01 2024-08-31 03449063 d:OfficeEquipment 2024-08-31 03449063 d:OfficeEquipment 2023-08-31 03449063 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 03449063 d:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 03449063 d:OtherPropertyPlantEquipment 2024-08-31 03449063 d:OtherPropertyPlantEquipment 2023-08-31 03449063 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 03449063 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 03449063 d:FreeholdInvestmentProperty 2024-08-31 03449063 d:FreeholdInvestmentProperty 2023-08-31 03449063 d:FreeholdInvestmentProperty 2 2023-09-01 2024-08-31 03449063 d:CurrentFinancialInstruments 2024-08-31 03449063 d:CurrentFinancialInstruments 2023-08-31 03449063 d:Non-currentFinancialInstruments 2024-08-31 03449063 d:Non-currentFinancialInstruments 2023-08-31 03449063 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 03449063 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 03449063 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 03449063 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 03449063 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 03449063 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 03449063 d:UKTax 2023-09-01 2024-08-31 03449063 d:UKTax 2022-09-01 2023-08-31 03449063 d:ShareCapital 2024-08-31 03449063 d:ShareCapital 2023-08-31 03449063 d:RetainedEarningsAccumulatedLosses 2024-08-31 03449063 d:RetainedEarningsAccumulatedLosses 2023-08-31 03449063 c:FRS102 2023-09-01 2024-08-31 03449063 c:Audited 2023-09-01 2024-08-31 03449063 c:FullAccounts 2023-09-01 2024-08-31 03449063 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03449063 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 03449063 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 03449063 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 03449063 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 03449063 c:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03449063 2 2023-09-01 2024-08-31 03449063 6 2023-09-01 2024-08-31 03449063 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 03449063 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 03449063 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 03449063 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 03449063 d:OtherDeferredTax 2024-08-31 03449063 d:OtherDeferredTax 2023-08-31 03449063 f:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure
Registered number: 03449063









CHALDEAN ESTATE LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
CHALDEAN ESTATE LIMITED
REGISTERED NUMBER: 03449063

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
14,460,652
14,462,544

Investments
 6 
132,350
121,606

Investment property
 7 
3,899,950
3,673,010

  
18,492,952
18,257,160

Current assets
  

Stocks
 8 
658,629
568,084

Debtors: amounts falling due within one year
 9 
579,612
430,896

Cash at bank and in hand
 10 
809
234,657

  
1,239,050
1,233,637

Creditors: amounts falling due within one year
 11 
(3,341,857)
(9,377,089)

Net current liabilities
  
 
 
(2,102,807)
 
 
(8,143,452)

Total assets less current liabilities
  
16,390,145
10,113,708

Creditors: amounts falling due after more than one year
 12 
(6,060,679)
(36,457)

Provisions for liabilities
  

Deferred tax
 15 
(716,500)
(658,727)

Net assets
  
9,612,966
9,418,524


Capital and reserves
  

Called up share capital 
  
6,631,108
6,631,108

Profit and loss account
  
2,981,858
2,787,416

  
9,612,966
9,418,524


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mr D Morrison
Director

Date: 14 May 2025

The notes on pages 3 to 13 form part of these financial statements.
Page 1

 
CHALDEAN ESTATE LIMITED
REGISTERED NUMBER: 03449063

BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024


Page 2

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


GENERAL INFORMATION

The Company is a private company limited by shares and is incorporated in England and Wales with the registered number 03449063. The address of its Registered Office is The Old Grain Store, Bromley Lane, Much Hadham, Hertfordshire, SG10 6HU.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The functional and presentational currency of the company is Pounds Sterling.

The following principal accounting policies have been applied:

  
2.2

GOING CONCERN

As at 31 August 2024, the Company had net current liabilities of £2,102,807 and made profit after tax of £194,442.
These accounts have been prepared on a going concern basis. The directors have confirmed continued financial support for a period of 12 months from the date the financial statements are signed. As with any company placing reliance on other related parties for financial support there can be no certainty that this support will continue although, at the date of approval of these financial statements, the directors have no reason to believe that this support will not continue as required.
These accounts do not include any adjustments that could be necessary should the going concern basis not be appropriate.

 
2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
1% - 2.5% straight line (Land is not depreciated)
Plant & machinery
-
5% - 20% straight line
Motor vehicles
-
20% - 25% straight line
Office equipment
-
20% straight line
Biological assets
-
5% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

The Company owns a biological asset in the form of grape vines which are cultivated on land owned by the Company. The costs of bringing the grape vines to maturity are capitalised.

Page 5

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.12

VALUATION OF INVESTMENTS

The Company's investment in joint ventures is stated at cost plus share of profit, less and diminution in value.
Credit is taken for the company's share of joint venture profit as it accrues based on the joint venture's accounts.

 
2.13

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Crops are valued based on tonnage at 75% of future selling price. 
Growing seed crops are stated at the cost of seeds, fertilizers and sprays applied and the costs of preparing the land.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. 

 
2.14

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.17

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

FINANCIAL INSTRUMENTS

The Company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.



3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 17 (2023 - 16).

Page 7

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


TAXATION


2024
2023
£
£

Corporation tax


Current tax on profits for the year
4,344
-


Deferred tax


Origination and reversal of timing differences
57,773
9,906


Taxation on profit on ordinary activities
62,117
9,906

FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 21.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
256,559
32,347


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 21.5%)
64,140
6,955

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
18,088
376

Capital allowances for year in excess of depreciation
2,731
1,664

Re-measurement of deferred tax - change in the UK tax rate
(1,372)
1,387

Non-taxable income
(21,470)
(476)

Total tax charge for the year
62,117
9,906


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

The Company has tax losses of approximately £20,000 (2023 - £125,000) available to offset against future taxable profits.

Page 8

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


TANGIBLE FIXED ASSETS





Freehold property
Other fixed assets
Assets under construction
Biological assets
Total

£
£
£
£
£



Cost or valuation


At 1 September 2023
14,251,446
868,663
21,232
380,933
15,522,274


Additions
108,980
48,622
2,769
-
160,371


Disposals
-
(105,799)
-
-
(105,799)


Transfers between classes
-
21,232
(21,232)
-
-



At 31 August 2024

14,360,426
832,718
2,769
380,933
15,576,846



Depreciation


At 1 September 2023
566,566
473,629
-
19,535
1,059,730


Charge for the year on owned assets
34,046
109,009
-
19,046
162,101


Disposals
-
(105,637)
-
-
(105,637)



At 31 August 2024

600,612
477,001
-
38,581
1,116,194



Net book value



At 31 August 2024
13,759,814
355,717
2,769
342,352
14,460,652



At 31 August 2023
13,684,880
395,034
21,232
361,398
14,462,544




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
13,759,814
13,684,880


The cost of depreciable assets included within Land and Buildings as at 31 August 2024 amounted to £1,607,471 (2023 - £1,592,556).

Page 9

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


FIXED ASSET INVESTMENTS





Investment in joint ventures

£



Cost or valuation


At 1 September 2023
121,606


Share of profit/(loss)
10,744



At 31 August 2024
132,350




Net assets /(liabilities) at 31 August 2024
Net profit/(loss) for the year ended 5 April 2024
Net assets /(liabilities) at 31 August 2023
Net profit/
(loss) for the
year ended 5
April 2023
        £
        £
        £
        £
Gilston Crop Management LLP (33% holding)

451,059

10,744

479,805
 
2,388
 


7.


INVESTMENT PROPERTY


Freehold investment property

£



Valuation


At 1 September 2023
3,673,010


Surplus on revaluation
226,940



At 31 August 2024
3,899,950

The 2024 valuations were made by the Directors, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,735,978
1,735,978

Page 10

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


STOCKS

2024
2023
£
£

Crops in store
518,609
470,175

Growing crops
28,030
11,878

Stores
111,990
86,031

658,629
568,084



9.


DEBTORS

2024
2023
£
£


Trade debtors
94,739
136,946

Other debtors
209,474
125,991

Prepayments and accrued income
275,399
167,959

579,612
430,896



10.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
809
234,657

Less: bank overdrafts
(51,092)
-

(50,283)
234,657



11.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
51,092
-

Bank loans
-
6,051,000

Trade creditors
64,701
129,147

Corporation tax
4,424
655

Other taxation and social security
23,177
22,262

Obligations under finance lease and hire purchase contracts
26,778
37,623

Other creditors
3,084,647
3,092,835

Accruals and deferred income
87,038
43,567

3,341,857
9,377,089


Page 11

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

12.


CREDITORS: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,051,000
-

Net obligations under finance leases and hire purchase contracts
9,679
36,457

6,060,679
36,457


Secured loans
The bank loans are secured on land held in the company's name.
Net obligations under finance leases and hire purchase contracts are secured over the asset to which they relate.


13.


LOANS


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
6,051,000

Amounts falling due 2-5 years

Bank loans
6,051,000
-


6,051,000
6,051,000



14.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
26,778
37,623

Between 1-5 years
9,679
36,457

36,457
74,080

Page 12

 
CHALDEAN ESTATE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

15.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
658,727
648,821


Charged to profit or loss
57,773
9,906



At end of year
716,500
658,727

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
180,626
205,704

Tax losses carried forward
(5,119)
(31,235)

Property Revaluation
540,993
484,258

716,500
658,727


16.


PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £10,556 (2023 - £8,416). The amount owed to the pension scheme at the year end was £NIL (2023 - £NIL).
The company also made pension contributions in the year of £6,693 (2023 - £7,290) into employee's personal pension plans.


17.OTHER FINANCIAL COMMITMENTS

The company has entered into a service agreement for Vineyard services. The company has a commitment of £7,700 (2023 - £16,100).


18.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 August 2024 was unqualified.

The audit report was signed on 15 May 2025 by Darren Amott (Senior Statutory Auditor) on behalf of Price Bailey LLP.


Page 13