REGISTERED NUMBER: 07485135 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

P C CHANNER FARMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P C Channer

T P Channer

REGISTERED OFFICE:

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

REGISTERED NUMBER:

07485135 (England and Wales)

ACCOUNTANTS:

Martin and Company

Two Brewers House

50 North Street

Thame

Oxfordshire

OX9 3BH

FIXED ASSETS

Tangible assets

4

1,732,199

1,719,117

CURRENT ASSETS

Stocks

429,642

518,766

Debtors

5

217,969

163,206

Cash at bank

754,992

634,170

1,402,603

1,316,142

CREDITORS

Amounts falling due within one year

6

535,172

366,546

NET CURRENT ASSETS

867,431

949,596

TOTAL ASSETS LESS CURRENT LIABILITIES

2,599,630

2,668,713

CREDITORS

Amounts falling due after more than one year

7

(251,244

)

(449,372

)

PROVISIONS FOR LIABILITIES

(334,700

)

(328,500

)

NET ASSETS

2,013,686

1,890,841

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,013,586

1,890,741

2,013,686

1,890,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 17th September 2025 and were signed on its behalf by:

P C Channer - Director

1.	STATUTORY INFORMATION

P C Channer 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.	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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements have been fully amortised in the current year.

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.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance, 15% on reducing balance and 4% on cost

Stocks

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Tractors

to

Plant and

and

property

machinery

combines

£

£

£

COST

At 1st January 2024

512,770

1,370,401

1,457,717

Additions

9,229

287,480

118,300

Disposals

-

(93,440

)

(79,950

)

At 31st December 2024

521,999

1,564,441

1,496,067

DEPRECIATION

At 1st January 2024

107,824

828,402

703,345

Charge for year

20,879

153,502

125,581

Eliminated on disposal

-

(31,450

)

(44,476

)

At 31st December 2024

128,703

950,454

784,450

NET BOOK VALUE

At 31st December 2024

393,296

613,987

711,617

At 31st December 2023

404,946

541,999

754,372

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1st January 2024

60,500

5,624

3,407,012

Additions

-

-

415,009

Disposals

-

-

(173,390

)

At 31st December 2024

60,500

5,624

3,648,631

DEPRECIATION

At 1st January 2024

44,278

4,046

1,687,895

Charge for year

4,055

446

304,463

Eliminated on disposal

-

-

(75,926

)

At 31st December 2024

48,333

4,492

1,916,432

NET BOOK VALUE

At 31st December 2024

12,167

1,132

1,732,199

At 31st December 2023

16,222

1,578

1,719,117

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

Tractors

Plant and

and

machinery

combines

Totals

£

£

£

COST

At 1st January 2024

248,723

1,136,950

1,385,673

Additions

43,500

113,800

157,300

Disposals

(64,000

)

(79,950

)

(143,950

)

Transfer to ownership

(80,200

)

(329,000

)

(409,200

)

At 31st December 2024

148,023

841,800

989,823

DEPRECIATION

At 1st January 2024

117,728

452,346

570,074

Charge for year

19,403

95,512

114,915

Eliminated on disposal

(12,800

)

(44,476

)

(57,276

)

Transfer to ownership

(53,920

)

(202,811

)

(256,731

)

At 31st December 2024

70,411

300,571

370,982

NET BOOK VALUE

At 31st December 2024

77,612

541,229

618,841

At 31st December 2023

130,995

684,604

815,599

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

167,501

102,421

VAT

17,809

26,018

Prepayments and accrued income

32,659

34,767

217,969

163,206

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

142,597

142,811

Trade creditors

276,320

118,681

Tax

51,918

46,934

Social security and other taxes

1,323

1,077

Directors' current accounts

676

455

Accrued expenses

62,338

56,588

535,172

366,546

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

223,244

352,372

Directors' loan accounts

28,000

97,000

251,244

449,372