Caseware UK (AP4) 2024.0.164 2024.0.164 2025-05-08The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue2024-01-01falseNo description of principal activity66false 05666748 2024-01-01 2024-12-31 05666748 2023-01-01 2023-12-31 05666748 2024-12-31 05666748 2023-12-31 05666748 c:Director2 2024-01-01 2024-12-31 05666748 d:Buildings 2024-01-01 2024-12-31 05666748 d:Buildings 2024-12-31 05666748 d:Buildings 2023-12-31 05666748 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05666748 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 05666748 d:PlantMachinery 2024-01-01 2024-12-31 05666748 d:PlantMachinery 2024-12-31 05666748 d:PlantMachinery 2023-12-31 05666748 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05666748 d:MotorVehicles 2024-01-01 2024-12-31 05666748 d:FurnitureFittings 2024-01-01 2024-12-31 05666748 d:OfficeEquipment 2024-01-01 2024-12-31 05666748 d:ComputerEquipment 2024-01-01 2024-12-31 05666748 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 05666748 d:OtherPropertyPlantEquipment 2024-12-31 05666748 d:OtherPropertyPlantEquipment 2023-12-31 05666748 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05666748 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05666748 d:Goodwill 2024-01-01 2024-12-31 05666748 d:Goodwill 2024-12-31 05666748 d:Goodwill 2023-12-31 05666748 d:CurrentFinancialInstruments 2024-12-31 05666748 d:CurrentFinancialInstruments 2023-12-31 05666748 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 05666748 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05666748 d:ShareCapital 2024-12-31 05666748 d:ShareCapital 2023-12-31 05666748 d:RetainedEarningsAccumulatedLosses 2024-12-31 05666748 d:RetainedEarningsAccumulatedLosses 2023-12-31 05666748 c:FRS102 2024-01-01 2024-12-31 05666748 c:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05666748 c:FullAccounts 2024-01-01 2024-12-31 05666748 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05666748 2 2024-01-01 2024-12-31 05666748 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 05666748 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 05666748










Charles Martell and Son Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2024

 
Charles Martell and Son Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Charles Martell and Son Limited for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Charles Martell and Son Limited for the year ended 31 December 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Charles Martell and Son Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Charles Martell and Son Limited and state those matters that we have agreed to state to the Board of Directors of Charles Martell and Son Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Charles Martell and Son Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Charles Martell and Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Charles Martell and Son Limited. You consider that Charles Martell and Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Charles Martell and Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
8 May 2025
Page 1

 
Charles Martell and Son Limited
Registered number: 05666748

Balance Sheet
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
747
1,137

Tangible assets
 5 
454,837
429,216

  
455,584
430,353

Current assets
  

Stocks
 6 
65,552
50,562

Debtors: amounts falling due within one year
 7 
187,454
235,252

Cash at bank and in hand
  
191,032
188,167

  
444,038
473,981

Creditors: amounts falling due within one year
 8 
(55,276)
(51,046)

Net current assets
  
 
 
388,762
 
 
422,935

Total assets less current liabilities
  
844,346
853,288

Provisions for liabilities
  

Deferred tax
  
(31,841)
(28,680)

  
 
 
(31,841)
 
 
(28,680)

Net assets
  
812,505
824,608


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
812,405
824,508

  
812,505
824,608


Page 2

 
Charles Martell and Son Limited
Registered number: 05666748

Balance Sheet (continued)
As at 31 December 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 R A Dunlop
Director

Date: 24 April 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
Charles Martell and Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

1.


General information

The Company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
The principal place of business is:
Hunts Court
Dymock
Gloucestershire
GL18 2DP

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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
Charles Martell and Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
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.

 
2.4

Interest income

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

 
2.5

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 5

 
Charles Martell and Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
2.6

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.


 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Goodwill and trademarks
-
10%
straight line

 
2.8

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.

Page 6

 
Charles Martell and Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Leasehold buildings
-
2.0%
straight line
Herd
-
Nil
Plant and machinery consisting of:
-
- Cheese making, livestock and distillery equipment
-
12.5%
straight line
- Plant and machinery
-
25.0%
straight line
- Promotional equipment
-
20.0%
straight line
- Fixtures and fittings
-
33.3%
straight line
- Motor vehicles
-
25.0%
Reducing balance

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.

 
2.9

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 7

 
Charles Martell and Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Intangible assets




Goodwill and trademarks

£



Cost


At 1 January 2024
607,540



At 31 December 2024

607,540



Amortisation


At 1 January 2024
606,403


Charge for the year on owned assets
390



At 31 December 2024

606,793



Net book value



At 31 December 2024
747



At 31 December 2023
1,137



Page 8

 
Charles Martell and Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

5.


Tangible fixed assets





Leasehold buildings
Plant and machinery
Herd
Total

£
£
£
£



Cost or valuation


At 1 January 2024
555,439
392,484
3,850
951,773


Additions
26,963
18,974
-
45,937


Disposals
-
-
(300)
(300)



At 31 December 2024

582,402
411,458
3,550
997,410



Depreciation


At 1 January 2024
150,634
371,923
-
522,557


Charge for the year on owned assets
11,619
8,397
-
20,016



At 31 December 2024

162,253
380,320
-
542,573



Net book value



At 31 December 2024
420,149
31,138
3,550
454,837



At 31 December 2023
404,805
20,561
3,850
429,216


6.


Stocks

2024
2023
£
£

Stocks
31,167
20,157

Distillery stocks
34,385
30,405

65,552
50,562



7.


Debtors

2024
2023
£
£


Trade debtors
116,273
105,766

Other debtors
69,537
89,818

Prepayments and accrued income
1,644
39,668

187,454
235,252


Page 9

 
Charles Martell and Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,486
6,899

Other taxation and social security
2,475
2,638

Other creditors
23,190
23,951

Accruals and deferred income
12,125
17,558

55,276
51,046


Page 10