Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr R J Clarke 01/01/2016 Mr C A Clarke 27/11/2001 Mr M E Clarke 01/01/2016 11 September 2023 The principal activity of the company is the commercial growing of roots crops, cereals (except rice), leguminous crops and oil seeds. 04329312 2023-03-31 04329312 bus:Director1 2023-03-31 04329312 bus:Director2 2023-03-31 04329312 bus:Director3 2023-03-31 04329312 2022-03-31 04329312 core:CurrentFinancialInstruments 2023-03-31 04329312 core:CurrentFinancialInstruments 2022-03-31 04329312 core:Non-currentFinancialInstruments 2023-03-31 04329312 core:Non-currentFinancialInstruments 2022-03-31 04329312 core:ShareCapital 2023-03-31 04329312 core:ShareCapital 2022-03-31 04329312 core:RetainedEarningsAccumulatedLosses 2023-03-31 04329312 core:RetainedEarningsAccumulatedLosses 2022-03-31 04329312 core:LeaseholdImprovements 2022-03-31 04329312 core:PlantMachinery 2022-03-31 04329312 core:Vehicles 2022-03-31 04329312 core:LeaseholdImprovements 2023-03-31 04329312 core:PlantMachinery 2023-03-31 04329312 core:Vehicles 2023-03-31 04329312 bus:OrdinaryShareClass1 2023-03-31 04329312 2022-04-01 2023-03-31 04329312 bus:FullAccounts 2022-04-01 2023-03-31 04329312 bus:SmallEntities 2022-04-01 2023-03-31 04329312 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04329312 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04329312 bus:Director1 2022-04-01 2023-03-31 04329312 bus:Director2 2022-04-01 2023-03-31 04329312 bus:Director3 2022-04-01 2023-03-31 04329312 core:LeaseholdImprovements core:TopRangeValue 2022-04-01 2023-03-31 04329312 core:PlantMachinery 2022-04-01 2023-03-31 04329312 core:Vehicles 2022-04-01 2023-03-31 04329312 2021-04-01 2022-03-31 04329312 core:LeaseholdImprovements 2022-04-01 2023-03-31 04329312 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04329312 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04329312 (England and Wales)

FRANK CLARKE AND SONS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

FRANK CLARKE AND SONS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

FRANK CLARKE AND SONS LTD

COMPANY INFORMATION

For the financial year ended 31 March 2023
FRANK CLARKE AND SONS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Mr R J Clarke
Mr C A Clarke
Mr M E Clarke
SECRETARY Mr C A Clarke
REGISTERED OFFICE Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX
England
United Kingdom
COMPANY NUMBER 04329312 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
FRANK CLARKE AND SONS LTD

BALANCE SHEET

As at 31 March 2023
FRANK CLARKE AND SONS LTD

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,298,972 3,407,555
3,298,972 3,407,555
Current assets
Stocks 4 148,749 64,029
Debtors 5 1,123,681 1,252,496
Cash at bank and in hand ( 24,865) 52,049
1,247,565 1,368,574
Creditors: amounts falling due within one year 6 ( 1,659,886) ( 1,940,144)
Net current liabilities (412,321) (571,570)
Total assets less current liabilities 2,886,651 2,835,985
Creditors: amounts falling due after more than one year 7 ( 1,453,176) ( 1,608,457)
Provision for liabilities ( 300,935) ( 264,285)
Net assets 1,132,540 963,243
Capital and reserves
Called-up share capital 8 1,000 1,000
Profit and loss account 1,131,540 962,243
Total shareholders' funds 1,132,540 963,243

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Frank Clarke and Sons Ltd (registered number: 04329312) were approved and authorised for issue by the Board of Directors on 11 September 2023. They were signed on its behalf by:

Mr C A Clarke
Director
Mr M E Clarke
Director
Mr R J Clarke
Director
FRANK CLARKE AND SONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
FRANK CLARKE AND SONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Frank Clarke and Sons Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Leasehold improvements 50 years straight line
not depreciated
Plant and machinery 15 % reducing balance
Vehicles 20 % reducing balance
Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 34 37

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 April 2022 964,243 2,851,352 191,459 4,007,054
Additions 24,124 437,244 14,000 475,368
Disposals ( 19,810) ( 228,583) ( 2,322) ( 250,715)
At 31 March 2023 968,557 3,060,013 203,137 4,231,707
Accumulated depreciation
At 01 April 2022 0 561,994 37,505 599,499
Charge for the financial year 1,463 328,588 32,279 362,330
Disposals 0 ( 28,668) ( 426) ( 29,094)
At 31 March 2023 1,463 861,914 69,358 932,735
Net book value
At 31 March 2023 967,094 2,198,099 133,779 3,298,972
At 31 March 2022 964,243 2,289,358 153,954 3,407,555

Included within the net book value of land and buildings above is £982,957 (2022 - £964,243) in respect of freehold land and buildings.

4. Stocks

2023 2022
£ £
Stocks 148,749 64,029

5. Debtors

2023 2022
£ £
Trade debtors 594,936 655,929
Prepayments 64,540 67,206
VAT recoverable 66,584 85,859
Other debtors 397,621 443,502
1,123,681 1,252,496

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 76,087 71,993
Trade creditors 337,724 488,356
Amounts owed to directors 958,120 977,019
Accruals 47,568 23,910
Other taxation and social security 20,415 63,187
Obligations under finance leases and hire purchase contracts 216,537 312,372
Other creditors 3,435 3,307
1,659,886 1,940,144

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 1,019,974 1,090,768
Obligations under finance leases and hire purchase contracts 433,202 517,689
1,453,176 1,608,457

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary A shares of £ 1.00 each 1,000 1,000