REGISTERED NUMBER: 00657905 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

D. CHENNELLS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

David Chennells

Mrs Janice Richmond-Chennells

SECRETARY:

Mrs Janice Richmond-Chennells

REGISTERED OFFICE:

Highlands Farm

Rettendon

Chelmsford

Essex

CM3 8EB

REGISTERED NUMBER:

00657905 (England and Wales)

ACCOUNTANTS:

Lucentum Business Services Ltd

Beckwith Barn

Warren Estate

Lordship Road

Chelmsford

Essex

CM1 3WT

FIXED ASSETS

Tangible assets

5

3,268,260

3,314,325

CURRENT ASSETS

Stocks

136,867

191,998

Debtors

6

36,311

104,472

Cash at bank and in hand

47,705

232,724

220,883

529,194

CREDITORS

Amounts falling due within one year

7

637,270

726,360

NET CURRENT LIABILITIES

(416,387

)

(197,166

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,851,873

3,117,159

CREDITORS

Amounts falling due after more than one year

8

(1,379,388

)

(1,407,447

)

PROVISIONS FOR LIABILITIES

(104,408

)

(104,408

)

NET ASSETS

1,368,077

1,605,304

CAPITAL AND RESERVES

Called up share capital

9

25,000

25,000

Undistributable reserves

1,073,032

1,073,032

Retained earnings

270,045

507,272

SHAREHOLDERS' FUNDS

1,368,077

1,605,304

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

Mrs Janice Richmond-Chennells - Director

1.	STATUTORY INFORMATION

D. Chennells 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.

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.

Significant judgements and estimates

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying value of assets and liabilities. The directors' judgement, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that considered to be applicable. Due to the inherent sensitivity involved in making judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions to accounting estimates are recognised prospectively.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents

amounts receivable for the farming of wheat, barley and oilseed rape, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is

probable that future economic benefits will flow to the entity and when specific criteria have been met

for each of the company’s activities described below.

Turnover is measured when the risks and rewards of ownership have been passed onto the customer.

Other operating income includes rental income generated. Rental income is recognised over the period the rental relates to.

Tangible fixed assets

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

Freehold property

-

In accordance with the valuation

Grainstore

-

15% on reducing balance

Tractors and combines

-

at variable rates on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Plant & equipment

-

15% on reducing balance

Stocks

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

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

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.

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.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Tractors

Freehold

and

property

Grainstore

combines

£

£

£

COST

At 1 April 2024

and 31 March 2025

3,148,535

53,725

129,186

DEPRECIATION

At 1 April 2024

-

53,725

81,134

Charge for year

-

-

7,208

At 31 March 2025

-

53,725

88,342

NET BOOK VALUE

At 31 March 2025

3,148,535

-

40,844

At 31 March 2024

3,148,535

-

48,052

Fixtures

and

Motor

Plant &

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

13,170

2,500

848,596

4,195,712

DEPRECIATION

At 1 April 2024

10,780

2,500

733,248

881,387

Charge for year

789

-

38,068

46,065

At 31 March 2025

11,569

2,500

771,316

927,452

NET BOOK VALUE

At 31 March 2025

1,601

-

77,280

3,268,260

At 31 March 2024

2,390

-

115,348

3,314,325

There is a fixed and floating legal charge over some land owned by the company.

The historical cost of the freehold land and buildings included at the above valuation of £365,719 (2024: £365,719)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

6,722

97,613

CIM

4,720

-

VAT

10,401

4,569

Prepayments and accrued income

14,468

2,290

36,311

104,472

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

119,279

119,279

Trade creditors

46,277

25,185

Tax

-

7,903

Social security and other taxes

712

1,519

Other creditors

415,885

517,512

Directors' loan accounts

51,074

51,112

Accrued expenses

4,043

3,850

637,270

726,360

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

119,280

119,280

Bank loans - 2-5 years

357,839

357,839

Bank loans more 5 yr by instal

902,269

930,328

1,379,388

1,407,447

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

902,269

930,328

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

20,000

Ordinary

£1

20,000

20,000

5,000

Ordinary non voting B shares

£1

5,000

5,000

25,000

25,000

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 March 2025 the company owed £50,995 (2024 - £50,995) to Mr D Chennells and £79 (2024 - £117) to Mrs J Chennells.