REGISTERED NUMBER: 00573067 (England and Wales)

C.H. Scholey & Sons Limited

Unaudited Financial Statements

for the Year Ended 30 April 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

AH Scholey

SA Scholey

RH Scholey

MJ Scholey

SECRETARY:

SA Scholey

REGISTERED OFFICE:

Lodge Farm,

Frickley,

Nr Doncaster

DN5 7BX

REGISTERED NUMBER:

00573067 (England and Wales)

ACCOUNTANTS:

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

BANKERS:

HSBC Bank plc

35 College Street

Rotherham

South Yorkshire

S65 1AF

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C.H. Scholey & Sons Limited for the year ended 30 April 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of C.H. Scholey & Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of C.H. Scholey & Sons Limited and state those matters that we have agreed to state to the Board of Directors of C.H. Scholey & Sons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C.H. Scholey & Sons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that C.H. Scholey & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C.H. Scholey & Sons Limited. You consider that C.H. Scholey & Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of C.H. Scholey & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

27 October 2025

FIXED ASSETS

Tangible assets

4

3,230,677

3,294,402

CURRENT ASSETS

Stocks

5

450,808

513,182

Debtors

6

381,746

181,281

Cash at bank

157,372

110,802

989,926

805,265

CREDITORS

Amounts falling due within one year

7

640,666

289,162

NET CURRENT ASSETS

349,260

516,103

TOTAL ASSETS LESS CURRENT LIABILITIES

3,579,937

3,810,505

CREDITORS

Amounts falling due after more than one year

8

(100,870

)

(526,156

)

PROVISIONS FOR LIABILITIES

10

(207,854

)

(229,334

)

NET ASSETS

3,271,213

3,055,015

CAPITAL AND RESERVES

Allotted, issued and fully paid share capital

20,000

20,000

Retained earnings

3,251,213

3,035,015

SHAREHOLDERS' FUNDS

3,271,213

3,055,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 24 October 2025 and were signed on its behalf by:

AH Scholey - Director

1.	STATUTORY INFORMATION

C.H. Scholey & Sons 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.

The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare accounts on the going concern basis.

Turnover

Turnover represents grain sales and contracting income stated net of discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have passed to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from services is recognised in the accounting periods in which the services are rendered.

The following criteria must be met before revenue is recognised:

Grain sales are recognised when the grain is collected from the farm, or from the arranged storage facility.

Contracting income is recognised in the period the work has been carried out.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

20% on reducing balance and 4% on cost

Tractors and vehicles

-

25% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

The company has the following biological assets within stock which are valued as disclosed:

Crops in store - valued at their estimated cost with reference to current market values

Growing crop - valued at the cost of inputs and cultivations up to the period end

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.

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 useful lives. Those held under finance leases are depreciated over their useful lives or the lease term, whichever is the shorter.

The interest elements of these obligations is charged to the 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 the 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

The average number of employees during the year was 6 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Tractors

Freehold

Plant and

and

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 May 2024

2,429,383

1,266,558

1,241,257

4,937,198

Additions

-

74,636

33,831

108,467

Disposals

-

-

(27,445

)

(27,445

)

At 30 April 2025

2,429,383

1,341,194

1,247,643

5,018,220

DEPRECIATION

At 1 May 2024

-

674,940

967,856

1,642,796

Charge for year

-

86,701

73,913

160,614

Eliminated on disposal

-

-

(15,867

)

(15,867

)

At 30 April 2025

-

761,641

1,025,902

1,787,543

NET BOOK VALUE

At 30 April 2025

2,429,383

579,553

221,741

3,230,677

At 30 April 2024

2,429,383

591,618

273,401

3,294,402

Included in cost of land and buildings is freehold land of £ 2,429,383 (2024 - £ 2,429,383 ) which is not depreciated.

The net book value of tangible fixed assets includes £47,813 (2024 - £63,750) in respect of assets held under hire purchase contracts.

5.

STOCKS

2025

2024

£

£

Raw materials

7,000

14,620

Work-in-progress

268,000

308,857

Finished goods

175,808

189,705

450,808

513,182

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

53,364

3,239

Directors' loan accounts

-

4,856

VAT

38,715

39,999

Prepayments and accrued income

289,667

133,187

381,746

181,281

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

88,550

59,000

Hire purchase contracts

16,882

16,446

Trade creditors

200,969

149,483

Corporation tax payable

129,546

55,966

Social security and other taxes

2,546

2,367

Directors' loan accounts

193,950

-

Accruals and deferred income

8,223

5,900

640,666

289,162

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

79,225

59,000

Bank loans - 2-5 years

13,036

148,600

Bank loans more than 5 years

-

293,065

Hire purchase contracts

8,609

25,491

100,870

526,156

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

-

293,065

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

180,811

559,665

Hire purchase contracts

25,491

41,937

206,302

601,602

The bank loan is secured against 132.59 acres of land at Summerhouse Farm as well as a fixed and floating legal charge over all the assets and undertakings of C.H. Scholey & Sons Limited. Hire purchase contracts are secured against the asset to which they relate.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Deferred tax - accelerated

capital allowances

200,325

216,257

Deferred tax - other

timing differences

7,529

13,077

207,854

229,334

Deferred

tax

£

Balance at 1 May 2024

229,334

Accelerated capital allowances

(15,932

)

Other timing differences

(5,548

)

Balance at 30 April 2025

207,854

11.	FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £152,424 (2024 - £105,499). The financial commitments relate to land and property rent for annual tenancies, therefore the commitment is for rents due in less than one year.