Charles Ransford & Son Limited - Period Ending 2024-12-31

Registration number: 01185122

Charles Ransford & Son Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2024

Charles Ransford & Son Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3 to 4
Statement of Directors' Responsibilities	5
Independent Auditor's Report	6 to 9
Profit and Loss Account	10
Balance Sheet	11
Statement of Changes in Equity	12
Statement of Cash Flows	13
Notes to the Financial Statements	14 to 26

Charles Ransford & Son Limited

Company Information

Directors

A J B Evans

R C Leitch

T W Jones

C J Evans

C J Offa

A W Evans

Company secretary

J P Devitt

Registered office

The Sawmill
Station Street
Bishops Castle
SY9 5AQ

Auditors

CBSL Accountants Limited
Chartered Accountants & Statutory Auditor
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Charles Ransford & Son Limited

Strategic Report for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

Principal activity

The principal activity of the company is saw mill and timber manufacturer.

Fair review of the business

The company has continued to operate profitably with an increase in turnover for the year ended 31 December 2024.

The company has continued capital investment in plant and machinery and aims to continue to improve the efficiency of its operations. The directors believe the company is in a strong position, which will allow the continued efficiency improvements and expansion.

The outlook for 2025/26 remains positive. The company has a strong financial standing and maintains good working relationships with suppliers and customers and the directors expect it to continue to generate positive results.

Financial key performance indicators

The key performance indicators used by the directors to monitor the company are gross profit margin and turnover. Turnover and the gross profit margin have both increased this year.

Principal risks and uncertainties

The directors consider that the key business risks and uncertainties affecting the company are:
- Downturns in the UK and global economic climate
- Financial failure of customers

Robust credit control mechanisms and a strong liquid balance sheet mitigate the risk of financial failure of customers. The company’s large asset base held at the year end and the continued profitability are an additional means of safeguarding against the economic downturn and the financial failure of customers.

Approved by the Board on 30 September 2025 and signed on its behalf by:

J P Devitt
Company secretary

Charles Ransford & Son Limited

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

A J B Evans

R C Leitch

T W Jones

C J Evans

C J Offa

A W Evans

Results and dividends

The profit for the year, after taxation, amounted to £2,299,514 (2023 - £1,980,150).

The directors do not recommend the payment of a final dividend for the year ending 31 December 2024.

Financial instruments

Objectives and policies

The business' principal financial instruments comprise managed investments, bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.

In respect of bank balances and managed investments, all of the business' cash and investment portfolios are held in a way that achieves a competitive rate of return, through interest, dividends and capital growth.

Trade debtors are managed in respect of credit and cash flow risk by providing credit to customers based on credit checks and regular monitoring of amounts outstanding by reference to ageing and credit limits.

Trade creditors liquidity risk is managed by ensurng sufficient funds are available to meet amounts due.

Future developments

The directors plan to continue the development of the business in the future through expenditure on capital assets to improve efficiency and close monitoring of margins.

Directors' liabilities

Qualifying third party indemnity are in force for the Directors as at the date of this report and were in force for the duration of the accounting period covered by these financial statements.

Charles Ransford & Son Limited

Directors' Report for the Year Ended 31 December 2024

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved by the Board on 30 September 2025 and signed on its behalf by:

J P Devitt
Company secretary

Charles Ransford & Son Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Charles Ransford & Son Limited

Independent Auditor's Report to the Members of Charles Ransford & Son Limited

Opinion

We have audited the financial statements of Charles Ransford & Son Limited (the 'company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

•	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Charles Ransford & Son Limited

Independent Auditor's Report to the Members of Charles Ransford & Son Limited

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

•	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•	the financial statements are not in agreement with the accounting records and returns; or
•	certain disclosures of directors' remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 5], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Charles Ransford & Son Limited

Independent Auditor's Report to the Members of Charles Ransford & Son Limited

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• We obtained an understanding of the legal and regulatory frameworks that are applicable to this company and its sector and determined that the most significant are those relating to the reporting framework and the relevant UK tax legislation.
• We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures.
• As an audit engagement team, we assessed the susceptibility of the company’s financial statements to material misstatement including how fraud might occur and considered the opportunities and incentives that may exist within the company for fraud. We considered the controls that the company has established to address the risks identified to prevent, deter and detect fraud; and how the management and directors monitor those controls.
• Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Those procedures involved: - enquiries of management and those charged with governance; - journal entry testing; - assessing whether judgements in making accounting estimates are indicative of a potential bias; and – evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
• Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included revenue recognition and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from fraud or error.
• We remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Charles Ransford & Son Limited

Independent Auditor's Report to the Members of Charles Ransford & Son Limited

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Louise Osselton FCA (Senior Statutory Auditor)
For and on behalf of CBSL Accountants Limited, Statutory Auditor

Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

30 September 2025

Charles Ransford & Son Limited

Profit and Loss Account for the Year Ended 31 December 2024

	Note	2024 £	2023 £
Turnover	3	17,536,012	17,020,582
Cost of sales		(12,950,857)	(12,943,683)
Gross profit		4,585,155	4,076,899
Administrative expenses		(2,914,230)	(2,782,621)
Other operating income	4	95,102	80,824
Operating profit	6	1,766,027	1,375,102
Other interest receivable and similar income	7	637,111	492,936
Amounts written off investments		515,770	569,757
Interest payable and similar expenses		(82)	-
		1,152,799	1,062,693
Profit before tax		2,918,826	2,437,795
Tax on profit	11	(619,312)	(457,645)
Profit for the financial year		2,299,514	1,980,150

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Charles Ransford & Son Limited

(Registration number: 01185122)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	12	11,688,346	12,142,306
Investment property	13	1,497,458	1,373,000
		13,185,804	13,515,306
Current assets
Stocks	15	3,970,981	3,332,289
Debtors	16	2,871,483	2,694,770
Other financial assets	14	7,750,659	7,210,393
Cash at bank and in hand		12,571,931	10,166,141
		27,165,054	23,403,593
Creditors: Amounts falling due within one year	18	(2,432,386)	(1,326,469)
Net current assets		24,732,668	22,077,124
Total assets less current liabilities		37,918,472	35,592,430
Provisions for liabilities	19	(1,869,186)	(1,842,658)
Net assets		36,049,286	33,749,772
Capital and reserves
Called up share capital		240,000	240,000
Revaluation reserve	22	335,314	335,314
Other reserves	22	515,514	515,514
Retained earnings	22	34,958,458	32,658,944
Shareholders' funds		36,049,286	33,749,772

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:

A W Evans
Director

Charles Ransford & Son Limited

Statement of Cash Flows for the Year Ended 31 December 2024

	Note	2024 £	2023 £
Cash flows from operating activities
Profit for the year		2,299,514	1,980,150
Adjustments to cash flows from non-cash items
Depreciation and amortisation	6	1,265,028	1,335,142
Profit on disposal of tangible assets	5	(59,440)	(8,982)
Finance income	7	(637,111)	(492,936)
Finance costs		(515,688)	(569,757)
Income tax expense	11	619,312	457,645
		2,971,615	2,701,262
Working capital adjustments
(Increase)/decrease in stocks	15	(638,692)	476,199
(Increase)/decrease in trade debtors	16	(176,713)	38,237
Increase/(decrease) in trade creditors	18	757,003	(27,700)
Cash generated from operations		2,913,213	3,187,998
Income taxes paid	11	(243,870)	(304,000)
Net cash flow from operating activities		2,669,343	2,883,998
Cash flows from investing activities
Interest received	7	577,134	438,259
Acquisitions of tangible assets		(960,856)	(734,519)
Proceeds from sale of tangible assets		165,722	22,083
Acquisition of investment properties		(80,952)	-
Dividend income	7	59,977	54,677
CA investment - listed other shares additions		(2,048,238)	(82,056)
Proceeds on current asset inv disposals		2,023,742	86,319
Net cash flows from investing activities		(263,471)	(215,237)
Cash flows from financing activities
Interest paid		(82)	-
Net increase in cash and cash equivalents		2,405,790	2,668,761
Cash and cash equivalents at 1 January		10,166,141	7,497,380
Cash and cash equivalents at 31 December		12,571,931	10,166,141

Charles Ransford & 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:
The Sawmill
Station Street
Bishops Castle
SY9 5AQ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

Estimates and judegments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Charles Ransford & Son Limited

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

Foreign currency transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rate at the date of the transaction.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged, once an asset is available for use, so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land	Not depreciated
Freehold property	3.33% straight line
Plant and machinery	5 - 20% reducing balance
Motor vehicles	25% reducing balance
Computer equipment	20% straight line
Other fixed assets	8% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Charles Ransford & Son Limited

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

Investments

Current investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit or loss for the period.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the cost of purchase on a weighted average basis.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Charles Ransford & Son Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in the case of an out-right short term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measure at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
Impairment
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Charles Ransford & Son Limited

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

3

Turnover

The analysis of the company's turnover for the year from continuing operations is as follows:

	2024 £	2023 £
Sales of timber and related by products	17,093,148	16,619,444
Income from electricity generation and other miscellaneous income	442,864	401,138
	17,536,012	17,020,582

The analysis of the company's Turnover for the year by market is as follows:

	2024 £	2023 £
UK	17,345,014	16,966,774
Europe	190,998	53,808
	17,536,012	17,020,582

4	Other operating income

The analysis of the company's other operating income for the year is as follows:

	2024 £	2023 £
Sub lease rental income	95,102	80,824

5	Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

	2024 £	2023 £
Gain on disposal of tangible assets	59,440	8,982

Charles Ransford & Son Limited

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

6	Operating profit

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	1,265,028	1,335,142
Profit on disposal of property, plant and equipment	(59,440)	(8,982)

7	Other interest receivable and similar income

	2024 £	2023 £
Interest income on investments	51,821	42,334
Interest income on bank deposits	525,313	395,925
Dividend income	59,977	54,677
	637,111	492,936

8	Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

	2024 £	2023 £
Wages and salaries	2,961,328	2,829,018
Social security costs	320,128	314,685
Pension costs, defined contribution scheme	339,590	316,850
	3,621,046	3,460,553

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

	2024 No.	2023 No.
Production	38	39
Administration and support	18	17
	56	56

Charles Ransford & Son Limited

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

9	Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	640,240	575,968
Contributions paid to money purchase schemes	99,920	80,000
	740,160	655,968

During the year the number of directors who were receiving benefits and share incentives was as follows:

	2024 No.	2023 No.
Accruing benefits under money purchase pension scheme	4	2

In respect of the highest paid director:

	2024 £	2023 £
Remuneration	152,000	187,200
Company contributions to money purchase pension schemes	40,000	-

10	Auditors' remuneration

	2024 £	2023 £
Audit of the financial statements	13,140	12,800

Charles Ransford & Son Limited

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

11

Taxation

Tax charged/(credited) in the profit and loss account

	2024 £	2023 £
Current taxation
UK corporation tax	592,784	496,997
Deferred taxation
Arising from origination and reversal of timing differences	26,528	(39,352)
Tax expense in the income statement	619,312	457,645

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of 25% (2023 - 23.5%).

The differences are reconciled below:

	2024 £	2023 £
Profit before tax	2,918,826	2,437,795
Corporation tax at standard rate	729,707	572,882
Effect of revenues exempt from taxation	(14,994)	(12,849)
Effect of expense not deductible in determining taxable profit (tax loss)	3,795	4,139
Deferred tax credit relating to changes in tax rates or laws	-	(1,926)
Tax decrease from other tax effects	(99,196)	(104,601)
Total tax charge	619,312	457,645

Deferred tax

Deferred tax assets and liabilities

2024	Liability £
Accelerated capital allowances	1,874,763
Short term timing difference re provisions	(5,577)
	1,869,186

2023	Liability £
Accelerated capital allowances	1,853,496
Short term timing difference re provisions	(10,838)
	1,842,658

Charles Ransford & Son Limited

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

12	Tangible assets

Land and buildings
£

Other tangible assets
£

Motor vehicles
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

7,853,077

1,127,533

1,280,177

16,257,304

26,518,091

Additions

-

134,893

295,504

530,459

960,856

Disposals

-

-

(211,471)

(47,400)

(258,871)

Transfers to/from investment property

(43,506)

-

-

-

(43,506)

At 31 December 2024

7,809,571

1,262,426

1,364,210

16,740,363

27,176,570

Depreciation

At 1 January 2024

3,094,790

537,928

816,407

9,926,660

14,375,785

Charge for the year

207,174

98,112

136,431

823,311

1,265,028

Eliminated on disposal

-

-

(109,186)

(43,403)

(152,589)

At 31 December 2024

3,301,964

636,040

843,652

10,706,568

15,488,224

Carrying amount

At 31 December 2024

4,507,607

626,386

520,558

6,033,795

11,688,346

At 31 December 2023

4,758,287

589,605

463,770

6,330,644

12,142,306

Included within the net book value of land and buildings above is £4,507,607 (2023 - £4,758,287) in respect of freehold land and buildings.

Page 22

Charles Ransford & Son Limited

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

13	Investment properties

	2024 £
At 1 January 2024	1,373,000
Additions	80,952
Transfers to and from owner-occupied property	43,506
At 31 December 2024	1,497,458

The 2017 valuations were made by The Wyn Jones Partnership, based on an open market value for existing use.

The directors note no material change in this valuation for 2024.

14	Other financial assets (current and non-current)

	2024 £	2023 £
Current financial assets
Financial assets at fair value through profit and loss	7,750,659	7,210,393

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 January 2024

7,210,393

7,210,393

Additions

2,048,238

2,048,238

Disposals

(2,023,742)

(2,023,742)

Fair value adjustments

515,770

515,770

At 31 December 2024

7,750,659

7,750,659

Carrying amount

At 31 December 2024

7,750,659

7,750,659

At 31 December 2023

7,210,393

7,210,393

15

Stocks

2024
£

2023
£

Raw materials and consumables

3,970,981

3,332,289

Charles Ransford & Son Limited

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

16

Debtors

Current	Note	2024 £	2023 £
Trade debtors		2,352,702	2,147,276
Amounts owed by related parties	25	-	50,116
Other debtors		333	604
Prepayments		518,448	496,774
		2,871,483	2,694,770

17	Cash and cash equivalents

	2024 £	2023 £
Cash on hand	1,252	113
Cash at bank	487,086	1,076,386
Short-term deposits	12,083,593	9,089,642
	12,571,931	10,166,141

18

Creditors

	Note	2024 £	2023 £
Due within one year
Trade creditors		1,388,451	640,764
Amounts due to related parties	25	328	-
Social security and other taxes		322,433	305,563
Outstanding defined contribution pension costs		31,881	65,593
Other payables		25,015	-
Accruals		79,559	78,744
Income tax liability	11	584,719	235,805
		2,432,386	1,326,469

Charles Ransford & Son Limited

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

19	Provisions for liabilities

	Deferred tax £	Total £
At 1 January 2024	1,842,658	1,842,658
Increase (decrease) in existing provisions	26,528	26,528
At 31 December 2024	1,869,186	1,869,186

20	Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £339,590 (2023 - £316,850).

Contributions totalling £31,881 (2023 - £65,593) were payable to the scheme at the end of the year and are included in creditors.

21	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	240,000	240,000	240,000	240,000

After the year end the company redesignated 180,000 Ordinary shares as 180,000 Ordinary A shares.

22

Reserves

Other reserves

- the cumulative revaluations to the investment properties held by the company less the associated deferred tax provision.

Revaluation reserve

- the cumulative revaluations made since incorporation less any disposals of revalued assets.

Retained earnings

- the cumulative profits generated by the company.

Charles Ransford & Son Limited

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

23	Commitments

Capital commitments

The total amount contracted for but not provided in the financial statements was £Nil (2023 - £99,804).

24	Contingent liabilities

The company has guaranteed the overdraft of a related party to the extent of £75,000.

25	Related party transactions

The following companies were related parties during the year by virtue of common directorships: Melcourt Industries Limited, Woodlink Forest Products Limited, Mellington Hall Partnership LLP and The Wyn Jones Partnership Limited. Transactions are undertaken on an arms length basis.

At 31 December 2024 balances of £81,397 (2023 - £50,380) included in debtors were due from related parties.

During the year the company made sales to related parties totalling £1,109,961 (2023 - £1,165,698) and purchases from related parties of £105,853 (2023 - £nil).

26

Control

The ultimate controlling party is Mr A W Evans.

	Share capital £	Revaluation reserve £	Other reserves £	Retained earnings £	Total £
At 1 January 2024	240,000	335,314	515,514	32,658,944	33,749,772
Profit for the year	-	-	-	2,299,514	2,299,514
At 31 December 2024	240,000	335,314	515,514	34,958,458	36,049,286

	Land and buildings £	Other tangible assets £	Motor vehicles £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	7,853,077	1,127,533	1,280,177	16,257,304	26,518,091
Additions	-	134,893	295,504	530,459	960,856
Disposals	-	-	(211,471)	(47,400)	(258,871)
Transfers to/from investment property	(43,506)	-	-	-	(43,506)
At 31 December 2024	7,809,571	1,262,426	1,364,210	16,740,363	27,176,570
Depreciation
At 1 January 2024	3,094,790	537,928	816,407	9,926,660	14,375,785
Charge for the year	207,174	98,112	136,431	823,311	1,265,028
Eliminated on disposal	-	-	(109,186)	(43,403)	(152,589)
At 31 December 2024	3,301,964	636,040	843,652	10,706,568	15,488,224
Carrying amount
At 31 December 2024	4,507,607	626,386	520,558	6,033,795	11,688,346
At 31 December 2023	4,758,287	589,605	463,770	6,330,644	12,142,306

	2024 £	2023 £
Raw materials and consumables	3,970,981	3,332,289