REGISTERED NUMBER: |
W.BRADLEY & SONS(FREISTON)LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
REGISTERED NUMBER: |
W.BRADLEY & SONS(FREISTON)LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
W.BRADLEY & SONS(FREISTON)LIMITED (REGISTERED NUMBER: 00386675) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
W.BRADLEY & SONS(FREISTON)LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
The Old Vicarage |
Church Close |
Boston |
Lincolnshire |
PE21 6NA |
W.BRADLEY & SONS(FREISTON)LIMITED (REGISTERED NUMBER: 00386675) |
BALANCE SHEET |
5 APRIL 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
W.BRADLEY & SONS(FREISTON)LIMITED (REGISTERED NUMBER: 00386675) |
BALANCE SHEET - continued |
5 APRIL 2023 |
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 |
W.BRADLEY & SONS(FREISTON)LIMITED (REGISTERED NUMBER: 00386675) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and services excluding Value Added tax. |
Tangible fixed assets |
Freehold property | - |
Tractors and machinery | - |
Motor vehicles | - |
Stocks |
Stocks are valued by a professional valuer in accordance with the Guidance Notes of the Royal Institute of Chartered Surveyors and Central Association of Agricultural Valuers and in accordance with Inland Revenue Business Economic Notes. |
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. |
W.BRADLEY & SONS(FREISTON)LIMITED (REGISTERED NUMBER: 00386675) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2023 |
1. | ACCOUNTING POLICIES - continued |
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 estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to 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 profit or loss on a straight line basis over the period of the lease. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
3. | TANGIBLE FIXED ASSETS |
Tractors |
Freehold | and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 6 April 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 5 April 2023 |
DEPRECIATION |
At 6 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
Included in cost of land and buildings is freehold land of £ 307,416 (2022 - £ 308,640 ) which is not depreciated. |
W.BRADLEY & SONS(FREISTON)LIMITED (REGISTERED NUMBER: 00386675) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2023 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 25,557 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
8. | RELATED PARTY DISCLOSURES |
The company rents farmland from the directors, their family and shareholders. During the year, rentals paid amounted to £9,310 (2022 - £5,300). |