REGISTERED NUMBER: 04762987 (England and Wales)

R.D. Chesters Limited

Unaudited Financial Statements

for the Year Ended 31 May 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

O Thomas

GC Thomas

SECRETARY:

GC Thomas

REGISTERED OFFICE:

Hennerwood

Pencombe

Bromyard

Herefordshire

HR7 4SL

REGISTERED NUMBER:

04762987 (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

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 R.D. Chesters Limited for the year ended 31 May 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 R.D. Chesters 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 R.D. Chesters Limited and state those matters that we have agreed to state to the Board of Directors of R.D. Chesters 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 R.D. Chesters Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R.D. Chesters 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 R.D. Chesters Limited. You consider that R.D. Chesters 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 R.D. Chesters 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

4 November 2025

FIXED ASSETS

Tangible assets

4

4,341,013

1,559,422

CURRENT ASSETS

Stocks

1,689,858

1,462,400

Debtors

5

2,421,537

2,170,046

Cash at bank and in hand

317,994

198,450

4,429,389

3,830,896

CREDITORS

Amounts falling due within one year

6

1,973,983

1,218,661

NET CURRENT ASSETS

2,455,406

2,612,235

TOTAL ASSETS LESS CURRENT LIABILITIES

6,796,419

4,171,657

CREDITORS

Amounts falling due after more than one year

7

(2,031,697

)

(176,876

)

PROVISIONS FOR LIABILITIES

9

(240,697

)

(220,511

)

NET ASSETS

4,524,025

3,774,270

CAPITAL AND RESERVES

Allotted, issued and fully

paid share capital

100

100

Retained earnings

4,523,925

3,774,170

SHAREHOLDERS' FUNDS

4,524,025

3,774,270

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 3 November 2025 and were signed on its behalf by:

O Thomas - Director

1.	STATUTORY INFORMATION

R.D. Chesters 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 the accounts on the going concern basis.

Turnover

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

Turnover represents Merchant sales and livestock sales, 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:

Merchant sales are recognised when the produce is collected from the farm or delivered to the customer.

Livestock sales are recognised when the animals are sold at market or delivered to the abattoir.

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

Improvements to property

-

5% on cost

Plant & machinery merchant

-

15% on reducing balance, 10% on cost and 5% on cost

Plant & machinery calf rearing

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Flock

-

20% on cost less residual value

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.

Included in stock are store cattle which are a biological asset. These are valued at the lower of cost and market value.

The company also recognises a biological asset of a flock of sheep. This is held as a tangible fixed asset at fair value through profit and loss.

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.

3.

EMPLOYEES

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

4.	TANGIBLE FIXED ASSETS

Improvements

Plant &

Freehold

to

machinery

property

property

merchant

£

£

£

COST

At 1 June 2024

-

923,590

1,047,345

Additions

2,630,925

68,618

36,860

Disposals

-

-

-

At 31 May 2025

2,630,925

992,208

1,084,205

DEPRECIATION

At 1 June 2024

-

249,272

393,487

Charge for year

-

49,598

80,735

Eliminated on disposal

-

-

-

At 31 May 2025

-

298,870

474,222

NET BOOK VALUE

At 31 May 2025

2,630,925

693,338

609,983

At 31 May 2024

-

674,318

653,858

Plant &

machinery

calf

Motor

rearing

vehicles

Flock

Totals

£

£

£

£

COST

At 1 June 2024

523,339

53,712

-

2,547,986

Additions

194,173

-

56,170

2,986,746

Disposals

(20,450

)

-

-

(20,450

)

At 31 May 2025

697,062

53,712

56,170

5,514,282

DEPRECIATION

At 1 June 2024

306,642

39,163

-

988,564

Charge for year

60,609

3,638

3,766

198,346

Eliminated on disposal

(13,641

)

-

-

(13,641

)

At 31 May 2025

353,610

42,801

3,766

1,173,269

NET BOOK VALUE

At 31 May 2025

343,452

10,911

52,404

4,341,013

At 31 May 2024

216,697

14,549

-

1,559,422

Included in cost of land and buildings is freehold land of £ 2,104,740 (2024 - £ 0 ) which is not depreciated.

The net book value of tangible fixed assets includes £78,625 (2024: £Nil) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,369,072

2,154,416

Directors' current accounts

25,774

-

VAT

3,209

-

Prepayments and accrued income

23,482

15,630

2,421,537

2,170,046

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

146,220

-

Hire purchase contracts

16,667

-

Trade creditors

1,525,554

1,068,112

Corporation tax payable

243,189

101,080

Social security and other taxes

2,599

1,615

VAT

-

19,860

Other creditors

462

-

Directors' current accounts

-

4,446

Accruals and deferred income

39,292

23,548

1,973,983

1,218,661

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

1,849,479

-

Hire purchase contracts

23,671

-

Accruals and deferred income

158,547

176,876

2,031,697

176,876

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

repayable by instalment

1,264,599

-

1,264,599

-

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

146,220

-

2025

2024

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

146,220

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

438,660

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

repayable by instalment

1,264,599

-

1,264,599

-

The bank loan is secured by a fixed and floating charge over the freehold property known as Two Hoots Farm dated 10.03.2025.

There is a debenture held by Lloyds Bank with a fixed and floating charge over the undertakings and all property and assets of the company.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Advanced capital allowances

227,633

209,748

Other timing differences

13,064

10,763

240,697

220,511

Deferred

tax

£

Balance at 1 June 2024

220,511

Provided during year

20,186

Balance at 31 May 2025

240,697

10.	RELATED PARTY DISCLOSURES

Included in debtors is £25,774 (creditor in 2024: £4,446) due from the directors. Interest of £128 (2024: £285) at the authorised rate was charged when the directors' loans were overdrawn.