REGISTERED NUMBER: 02650599 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

C R Hales Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

5

1,133,120

1,178,267

Investment property

6

1,550,000

1,550,000

2,683,120

2,728,267

Current assets

Stocks

32,000

62,140

Debtors

7

34,596

39,179

Prepayments and accrued income

13,203

1,454

Cash at bank and in hand

79,784

51,338

159,583

154,111

Creditors

Amounts falling due within one year

8

(176,868

)

(159,797

)

Net current liabilities

(17,285

)

(5,686

)

Total assets less current liabilities

2,665,835

2,722,581

Creditors

Amounts falling due after more than one year

9

(389,808

)

(439,765

)

Provisions for liabilities

(314,974

)

(322,041

)

Net assets

1,961,053

1,960,775

Capital and reserves

Called up share capital

1,000

1,000

Revaluation reserve

10

1,211,755

1,211,755

Retained earnings

748,298

748,020

1,961,053

1,960,775

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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings 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:

Mrs V J Freeman - Director

1.	Statutory information

C R Hales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02650599

Registered office:

31-35 Pinbush Road

Lowestoft

Suffolk

NR33 7NL

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover 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

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - straight line basis over 25 and 50 years

Plant and machinery - 15% - 25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

4.	Employees and directors

The average number of employees during the year was 10 (2024 - 10 ) .

5.	Tangible fixed assets

Freehold

Plant and

property

machinery

Totals

£

£

£

Cost

At 1 March 2024

1,000,000

2,129,832

3,129,832

Additions

-

4,994

4,994

At 28 February 2025

1,000,000

2,134,826

3,134,826

Depreciation

At 1 March 2024

19,610

1,931,955

1,951,565

Charge for year

12,182

37,959

50,141

At 28 February 2025

31,792

1,969,914

2,001,706

Net book value

At 28 February 2025

968,208

164,912

1,133,120

At 29 February 2024

980,390

197,877

1,178,267

Freehold land at a cost of £188,192 (2024 - £188,192) is not depreciated.

Freehold property and investment property was revalued by an independent valuer in 2022. The directors consider the valuation materially correct at 28 February 2025.

6.	Investment property

Total

£

Fair value

At 1 March 2024

and 28 February 2025

1,550,000

Net book value

At 28 February 2025

1,550,000

At 29 February 2024

1,550,000

7.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

34,596

39,179

8.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

19,147

26,508

Trade creditors

53,648

30,875

Taxation and social security

89,584

80,703

Other creditors

14,489

21,711

176,868

159,797

The bank loan is secured on the company's freehold property.

9.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

69,808

89,765

Other creditors

320,000

350,000

389,808

439,765

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

320,000

350,000

The bank loan is secured on the company's freehold property.

Included within creditors are alloted, called up and fully paid £1 preference shares classed as debt totalling £320,000 (2024 - £350,000).

The preference shares are redeemable at par.

30,000 preference shares have been redeemed at par during the year.

10.

Reserves

Revaluation

reserve

£

At 1 March 2024

and 28 February 2025

1,211,755

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.