| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| CHEMICAL AND AGRICULTURAL SERVICES LTD |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| CHEMICAL AND AGRICULTURAL SERVICES LTD |
| CHEMICAL AND AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: 02311938) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| CHEMICAL AND AGRICULTURAL SERVICES LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants, Tax Consultants |
| & Statutory Auditors |
| 27-29 Old Market |
| Wisbech |
| Cambridgeshire |
| PE13 1NE |
| CHEMICAL AND AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: 02311938) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Revaluation reserve | 7 |
| Other reserves |
| Retained earnings |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CHEMICAL AND AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: 02311938) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Chemical and Agricultural Services Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the break up basis as the company does not now trade following the hive up of its trade to H L Hutchinson Limited on 31 December 2023. The company was dormant throughout the current year. |
| 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 descried 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. |
| 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. |
| CHEMICAL AND AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: 02311938) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| 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. |
| 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 NIL (2023 - |
| CHEMICAL AND AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: 02311938) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to |
| property | property | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2024 |
| Revaluations | ( |
) | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Revaluation adjustments | ( |
) | ( |
) | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Cost or valuation at 31 December 2024 is represented by: |
| Freehold |
| property |
| £ |
| Valuation in 2024 | 585,000 |
| If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Cost | 191,553 | 191,553 |
| Freehold land and buildings were valued on an open market basis on 22 January 2025 by Armitstead Barnett LLP . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| CHEMICAL AND AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: 02311938) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 January 2024 |
| Revaluation | 32,847 |
| At 31 December 2024 |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company is a 100% subsidiary of H L Hutchinson Limited, a company incorporated in England and Wales. |
| The directors consider the ultimate parent company is Hutchinson Group Limited, a company incorporated in |
| England. The registered office of Hutchinson Group Limited is Weasenham Lane, Wisbech, Cambridgeshire, |
| PE13 2RN. There is no overall controlling party of Hutchinson Group Limited. Copies of the group accounts |
| can be obtained from Companies House. |