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REGISTERED NUMBER: 01086330 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

T. & K. BROWN AND SONS LIMITED

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T. & K. BROWN AND SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr P T Brown
Mrs K J Kitching
Miss R L Brown
Mrs C E Little





SECRETARY: Mrs M M Brown





REGISTERED OFFICE: Halt Farm
Great Rollright
CHIPPING NORTON
Oxfordshire
OX7 5RE





REGISTERED NUMBER: 01086330 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,579 86,360

CURRENT ASSETS
Stocks 5 125,284 69,560
Debtors 6 22,243 38,970
Investments 7 - 288,601
Cash at bank 628,047 334,066
775,574 731,197
CREDITORS
Amounts falling due within one year 8 97,968 84,511
NET CURRENT ASSETS 677,606 646,686
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,185

733,046

CREDITORS
Amounts falling due after more than one
year

9

(21,750

)

-

PROVISIONS FOR LIABILITIES 10 (23,632 ) (14,345 )
NET ASSETS 767,803 718,701

CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Retained earnings 757,803 708,701
SHAREHOLDERS' FUNDS 767,803 718,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

BALANCE SHEET - continued
31 JANUARY 2023


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 23 October 2023 and were signed on its behalf by:





Mr P T Brown - Director


T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

T. & K. Brown and 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - in accordance with the property and Straight line over 20 years
Computer Equipment - 33% on cost
Implements - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Tractors & combine - 25% 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.

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.

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. 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.

Current asset investments
Current asset investments are stated at the invested cost plus settled interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Computer
property Equipment Implements
£    £    £   
COST
At 1 February 2022 38,421 1,134 236,781
Additions - - 16,750
Disposals - - (17,700 )
At 31 January 2023 38,421 1,134 235,831
DEPRECIATION
At 1 February 2022 27,220 1,132 200,364
Charge for year - - 6,768
Eliminated on disposal - - (9,654 )
At 31 January 2023 27,220 1,132 197,478
NET BOOK VALUE
At 31 January 2023 11,201 2 38,353
At 31 January 2022 11,201 2 36,417

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Tractors
vehicles & combine Totals
£    £    £   
COST
At 1 February 2022 10,000 433,950 720,286
Additions - 78,500 95,250
Disposals - (54,250 ) (71,950 )
At 31 January 2023 10,000 458,200 743,586
DEPRECIATION
At 1 February 2022 9,566 395,644 633,926
Charge for year 108 25,678 32,554
Eliminated on disposal - (48,819 ) (58,473 )
At 31 January 2023 9,674 372,503 608,007
NET BOOK VALUE
At 31 January 2023 326 85,697 135,579
At 31 January 2022 434 38,306 86,360

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
& combine
£   
COST
Additions 78,500
At 31 January 2023 78,500
DEPRECIATION
Charge for year 19,625
At 31 January 2023 19,625
NET BOOK VALUE
At 31 January 2023 58,875

5. STOCKS
31.1.23 31.1.22
£    £   
Valuation 125,284 69,560

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 3,013 33,253
VAT 16,550 3,217
Prepayments 2,680 2,500
22,243 38,970

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

7. CURRENT ASSET INVESTMENTS
31.1.23 31.1.22
£    £   
Investment bond - 288,601

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Hire purchase contracts 10,875 -
Trade creditors 23,325 1,883
Tax 12,489 16,130
Social security and other taxes 104 -
Proposed dividends 16,000 10,000
Other creditors 1,689 1,689
Directors' loan accounts 27,091 48,064
Accrued expenses 6,395 6,745
97,968 84,511

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Hire purchase contracts 21,750 -

10. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred tax
Accelerated capital allowances 23,632 14,345

Deferred
tax
£   
Balance at 1 February 2022 14,345
Provided during year 9,352
Balance at 31 January 2023 23,697

** BALANCE ABOVE AT END OF YEAR RE DEFERRED TAX ON CLIENT SCREEN OF 23,697
DOES NOT AGREE TO CURRENT YEAR TOTAL OF ACCOUNTS PER TB 23,632

PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - BALANCE SHEET ITEMS - PROVISIONS FOR LIABILITIES - MOVEMENT IN PROVISIONS ETC

Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign)


T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
7,500 Ordinary A £1 7,500 7,500
2,500 Ordinary B £1 2,500 2,500
10,000 10,000