REGISTERED NUMBER: 03306291 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

CASELY FARMS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S L Casely

Mrs T M Casely

SECRETARY:

Mrs T M Casely

REGISTERED OFFICE:

Gore Farm

Trent

Sherborne

Dorset

DT9 4SJ

REGISTERED NUMBER:

03306291 (England and Wales)

ACCOUNTANTS:

Evans & Co

Manchester House

High Street

Stalbridge

Sturminster Newton

Dorset

DT10 2LL

FIXED ASSETS

Property, plant and equipment

5

106,742

118,186

CURRENT ASSETS

Inventories

218,752

231,053

Debtors

13,011

22,635

Cash at bank

104

102

231,867

253,790

CREDITORS

Amounts falling due within one year

89,459

122,835

NET CURRENT ASSETS

142,408

130,955

TOTAL ASSETS LESS CURRENT LIABILITIES

249,150

249,141

CREDITORS

Amounts falling due after more than one year

(119,666

)

(133,131

)

PROVISIONS FOR LIABILITIES

(15,500

)

-

NET ASSETS

113,984

116,010

CAPITAL AND RESERVES

Called up share capital

702

702

Share premium

69,300

69,300

Retained earnings

43,982

46,008

SHAREHOLDERS' FUNDS

113,984

116,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 August 2025 and were signed on its behalf by:

S L Casely - Director

1.	STATUTORY INFORMATION

Casely 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

not provided

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Stocks

Livestock and living plants are valued at cost and estimated selling price, less costs to sell. Other stocks are also valued at the lower of cost and estimated selling price, less costs to sell.

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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 March 2024

617,898

Additions

5,350

Disposals

(6,500

)

At 28 February 2025

616,748

DEPRECIATION

At 1 March 2024

499,712

Charge for year

16,132

Eliminated on disposal

(5,838

)

At 28 February 2025

510,006

NET BOOK VALUE

At 28 February 2025

106,742

At 29 February 2024

118,186

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Transfer to ownership

78,000

At 28 February 2025

78,000

DEPRECIATION

Charge for year

11,700

At 28 February 2025

11,700

NET BOOK VALUE

At 28 February 2025

66,300

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

40,613

53,286

Bank loans

92,366

96,581

Hire purchase contracts

43,426

52,956

176,405

202,823

The directors have provided security to the company's bankers by way of a mortgage over freehold property owned by them.

Hire purchase liabilities are secured on the assts to which they relate

7.	RELATED PARTY DISCLOSURES

The company operates from farmland and buildings own by the Directors. No rent is paid to the directors for the use of the property.