Registered number: 14761881
FOR THE YEAR ENDED 31 JULY 2025
CHARLIES STORES HOLDINGS LIMITED
COMPANY INFORMATION
CHARLIES STORES HOLDINGS LIMITED
CONTENTS
CHARLIES STORES HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2025
The Directors present their strategic report together with the Directors’ report and audited financial statements of the Company and Group for the year ended 31 July 2025.
The principal activity of the Company is holding and managing the property assets of the Group.
The principal activity of the Company is holding and managing the property assets of the Group.
Charlies Stores Holdings Limited ('the Company') acts as a holding company for the operational activities of Charlies Stores Limited and Charlies Ag and Turf Limited (together 'the Group'). Additionally, Charlies Stores Holdings Limited owns and manages the properties of the Group.
The year to 31 July 2025 was very positive for the Group, despite cost pressures, ongoing economic uncertainty and low consumer confidence. Both Charlies Ag and Turf Limited and Charlies Stores Limited worked exceptionally hard to deliver successful results.
The year to 31 July 2025 was very positive for the Group, despite cost pressures, ongoing economic uncertainty and low consumer confidence. Both Charlies Ag and Turf Limited and Charlies Stores Limited worked exceptionally hard to deliver successful results.
In all business operations, risk management and process control are a priority, and the Board of Directors is ultimately responsible for considering major risks.
The following are key risks which can affect the Group’s performance:
Margin Erosion
We take a balanced approach that includes strategic pricing and a focus on maintaining strong relationships with suppliers so that we can remain competitive and protect our margins.
Supply Chain
The current global economic situation is impacting on the supply chain and our customers expect stock to be on hand. The Group builds strong relationships with suppliers across its large product offering to help ensure product availability.
Competition in our markets
The Group operates in competitive market environments and the provision of new and great-value products is key to our success. Customer care is a top priority, and the Group maintains strong relationships with customers by seeking to provide great service.
Decline in customer numbers
The Group is subject to fluctuations in customer numbers. We endeavour to ensure customer retention by providing high-quality products at competitive prices, and by backing these up with first-class service and product knowledge.
The following are key risks which can affect the Group’s performance:
Margin Erosion
We take a balanced approach that includes strategic pricing and a focus on maintaining strong relationships with suppliers so that we can remain competitive and protect our margins.
Supply Chain
The current global economic situation is impacting on the supply chain and our customers expect stock to be on hand. The Group builds strong relationships with suppliers across its large product offering to help ensure product availability.
Competition in our markets
The Group operates in competitive market environments and the provision of new and great-value products is key to our success. Customer care is a top priority, and the Group maintains strong relationships with customers by seeking to provide great service.
Decline in customer numbers
The Group is subject to fluctuations in customer numbers. We endeavour to ensure customer retention by providing high-quality products at competitive prices, and by backing these up with first-class service and product knowledge.
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CHARLIES STORES HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
Foreign Exchange
The Group is exposed to currency transaction risk in respect of the purchases it makes in US dollars and Euros. This risk is managed through ongoing market monitoring and, where considered appropriate, by purchasing foreign currency, holding cash balances in the relevant currencies, or entering into forward contracts to provide greater certainty over exchange rates.
Interest Rates
The Group has overdraft and loan facilities and is therefore exposed to interest rate risk on its borrowings. The bank remains satisfied with the company’s financial performance, and the directors do not consider there to be any risk of the facilities being withdrawn.
Credit Risk
We have credit policies in place to manage risk and monitor risk on an ongoing basis. The agricultural industry is facing challenging and uncertain market conditions, so all outstanding debts are reviewed monthly using an external debt collection company.
As Charlies Stores Holdings Limited is a holding company with no significant trading activities of its own, the directors do not consider non-financial key performance indicators to be material. The performance of the Group is monitored primarily through financial KPIs at subsidiary level. The Company uses a range of financial KPIs to monitor and measure performance within the business on a regular basis, at both a top-level and division or store-specific level.
The Board of Directors, in line with their duties under s172 of the Companies Act 2006, act in a way they consider would most likely be in the best interest of the Group taking into account the requirements of all stakeholders. Further information is included in the Directors’ Report.
Decision making at the Board
All matters which are reserved for decision by the Directors are presented at Board meetings. Directors are briefed on any potential impacts and risks for our customers, employees and other stakeholders including our suppliers, the community and environment and how they are to be managed. The Directors take these factors into account before making a final decision which together they believe is in the best interests of the Group.
Decision making at the Board
All matters which are reserved for decision by the Directors are presented at Board meetings. Directors are briefed on any potential impacts and risks for our customers, employees and other stakeholders including our suppliers, the community and environment and how they are to be managed. The Directors take these factors into account before making a final decision which together they believe is in the best interests of the Group.
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CHARLIES STORES HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
Stakeholders
The Group’s key stakeholders are its employees, who are the heart of our purpose and work in service of our customers. We are focused on responding to the needs of, and building long term relationships with, our customers. Other key stakeholders are the producers and suppliers from whom we purchase goods and services, and the communities in which we operate.
Long term sustainability
We aim to make sufficient profits to sustain the Group’s commercial viability. This is balanced against the needs of our customers, employees and other stakeholders and the community to ensure we are conducting all our business relationships with integrity. The long-term sustainability of the Group is at the forefront of decision making.
Employees
Our team members are fundamental to the delivery of our plan. We aim to be a responsible employer in our approach to the pay and benefits our team members receive. As a Group we are committed to improving all diversity, not just diversity of gender.
Customers and suppliers
Engagement with suppliers and customers is key to our success. Customer experience is important to the Group, and it is what keeps our customers coming back time and time again. We work closely with our supply chain and take the appropriate action, when necessary, to prevent involvement in modern slavery, corruption, bribery, and breaches of competition law.
Other third parties that are of great importance to the Charlies Group include our professional advisers, bankers and our various regulators.
Financial stakeholders
The Group seeks to make information available to financial stakeholders, including our relationship bank, as part of information provided about and by the Group.
Community and environment
The Group takes all reasonable steps to minimise any detrimental impact that its operations may have on the environment. Directors routinely assess the impact of the Group’s operations on the community and environment and wider social responsibilities, and in particular how we comply with environmental legislation, pursue waste saving opportunities and react promptly to local community concerns.
As a Board of Directors, our intention is to behave responsibly and ensure that the management operate the Group’s businesses in a responsible manner, operating within the high standards of business conduct and good governance expected. The intention is to nurture our reputation, through the delivery of our objectives, that reflects our responsible behaviour.
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CHARLIES STORES HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
Business conduct
The Group aims to conduct all its business relationships with integrity and courtesy, and scrupulously to honour every business agreement.
This report was approved by the board and signed on its behalf.
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CHARLIES STORES HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2025
The directors present their report and the financial statements for the year ended 31 July 2025.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,400,772 (2024 - £1,095,514).
The Directors have declared a dividend of £Nil (2024: £NIL).
The directors who served during the year were:
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CHARLIES STORES HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
The Group’s greenhouse gas emissions and energy consumption are as follows:
We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2021 UK Government’s conversion factors for company reporting.
We closely monitor energy usage and ensure that infrastructure projects and the replacement of materials and systems consider energy efficiency. We are required to comply with the Governments energy assessment scheme (Energy Savings Opportunity Scheme) and have completed an energy audit to ensure our compliance with Phase III during this financial year. We will use the output from this assessment to help inform energy-efficient decisions and investments within the business.
The Company’s chosen intensity measurement ratios are total gross emissions in metric tonnes CO2e per employee, and total gross emissions in metric tonnes CO2e per £100,000 turnover:
We closely monitor energy usage and ensure that infrastructure projects and the replacement of materials and systems consider energy efficiency. We are required to comply with the Governments energy assessment scheme (Energy Savings Opportunity Scheme) and have completed an energy audit to ensure our compliance with Phase III during this financial year. We will use the output from this assessment to help inform energy-efficient decisions and investments within the business.
The Company’s chosen intensity measurement ratios are total gross emissions in metric tonnes CO2e per employee, and total gross emissions in metric tonnes CO2e per £100,000 turnover:
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CHARLIES STORES HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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CHARLIES STORES HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHARLIES STORES HOLDINGS LIMITED
We have audited the financial statements of Charlies Stores Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 July 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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 auditing the financial statements, we have concluded that the directors' 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 Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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.
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CHARLIES STORES HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHARLIES STORES HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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CHARLIES STORES HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHARLIES STORES HOLDINGS LIMITED (CONTINUED)
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 Auditors' 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and Group and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR).
We understood how the Company and Group are complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements.
We assessed the susceptibility of the Company's and Group's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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CHARLIES STORES HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHARLIES STORES HOLDINGS LIMITED (CONTINUED)
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 Auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
Belmont House
Shrewsbury Business Park
Shropshire
SY2 6LG
Date:
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CHARLIES STORES HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2025
Page 12
CHARLIES STORES HOLDINGS LIMITED
REGISTERED NUMBER: 14761881
CONSOLIDATED BALANCE SHEET
AS AT 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
REGISTERED NUMBER: 14761881
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 21 to 45 form part of these financial statements.
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CHARLIES STORES HOLDINGS LIMITED
REGISTERED NUMBER: 14761881
COMPANY BALANCE SHEET
AS AT 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
REGISTERED NUMBER: 14761881
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 21 to 45 form part of these financial statements.
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CHARLIES STORES HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
Charlies Stores Holdings Limited (14761881) is a private Company, limited by shares, incorporated and domiciled in the UK and has its registered office and principal place of business at Unit 7, Offa's Dyke Business Park, Buttington, Welshpool, Powys, SY21 8SS.
The principal activity of the Company is that of a holding company. The principal activity of the Group is the retail of general household goods and the wholesale of agricultural equipment, machinery and supplies.
The principal activity of the Company is that of a holding company. The principal activity of the Group is the retail of general household goods and the wholesale of agricultural equipment, machinery and supplies.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the merger accounting method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their book values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income for the entire financial year in which the combination occurred. They are deconsolidated from the date control ceases.
The consolidated financial statements incorporate the results of business combinations using the merger accounting method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their book values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income for the entire financial year in which the combination occurred. They are deconsolidated from the date control ceases.
The Group's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Group should be able to operate within the level of its current facilities.
The Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group therefore has adopted the going concern basis in preparing its financial statements.
The Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group therefore has adopted the going concern basis in preparing its financial statements.
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both straight line and reducing balance methods.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
The Group has a fleet of machinery which is financed by John Deere valued at £1,400,322 (2023: £Nil). These machines are held in stock and used as demonstrators for a year after which they are sold. These machines are held in stock with a restriction stating that they cannot be sold until the finance liability is settled.
The intention is that these assets do not remain on finance for more than one year after which they are sold as ex demonstrators to customers.
The intention is that these assets do not remain on finance for more than one year after which they are sold as ex demonstrators to customers.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
Basic financial liabilities
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 Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
The Company and Group 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.
The whole of the turnover is attributable to the principal activity of the Group.
All turnover arose within the United Kingdom.
All turnover arose within the United Kingdom.
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
Page 30
CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
Page 31
CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
Page 32
CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
13.Tangible fixed assets (continued)
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
13.Tangible fixed assets (continued)
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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Page 37
CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
Page 38
CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
The overdraft facility and bank loans are secured with a legal charge over the leasehold property and the following freehold properties:
- Market Street and Back Lane, Newtown, Powys
- Unit 2, Dyffrn Enterprise Park, Newtown, Powys
- Coed-Y-Dinas Enterprise Park, Newtown, Powys
- Unit 7, Offa's Dyke Business Park, Buttington, Welshpool Powys
- Tewkesbury Road, Cheltenham, Gloucestershire
The interest rates charged on the above loans are disclosed in note 20.
Obligations under finance lease and hire purchase are secured upon the assets to which they relate.
- Market Street and Back Lane, Newtown, Powys
- Unit 2, Dyffrn Enterprise Park, Newtown, Powys
- Coed-Y-Dinas Enterprise Park, Newtown, Powys
- Unit 7, Offa's Dyke Business Park, Buttington, Welshpool Powys
- Tewkesbury Road, Cheltenham, Gloucestershire
The interest rates charged on the above loans are disclosed in note 20.
Obligations under finance lease and hire purchase are secured upon the assets to which they relate.
Page 39
CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
The overdraft facility and bank loans are secured with a legal charge over the leasehold property and the following freehold properties:
- Market Street and Back Lane, Newtown, Powys
- Unit 2, Dyffrn Enterprise Park, Newtown, Powys
- Coed-Y-Dinas Enterprise Park, Newtown, Powys
- Unit 7, Offa's Dyke Business Park, Buttington, Welshpool, Powys
- Tewkesbury Road, Cheltenham, Gloucestershire
The interest rates charged on the above loans are disclosed in note 20.
Obligations under finance lease and hire purchase are secured upon the assets to which they relate.
- Market Street and Back Lane, Newtown, Powys
- Unit 2, Dyffrn Enterprise Park, Newtown, Powys
- Coed-Y-Dinas Enterprise Park, Newtown, Powys
- Unit 7, Offa's Dyke Business Park, Buttington, Welshpool, Powys
- Tewkesbury Road, Cheltenham, Gloucestershire
The interest rates charged on the above loans are disclosed in note 20.
Obligations under finance lease and hire purchase are secured upon the assets to which they relate.
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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Profit and loss account
Page 43
CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £350,853 (2024 - £315,904). Contributions totaling £14,963 (2024 - £12,904) were payable to the fund at the balance sheet date and are included in creditors.
Page 44
CHARLIES STORES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
The Directors are the controlling party of the Company and Group by virtue of their 100% shareholding in the Company.
Page 45