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COMPANY REGISTRATION NUMBER: 03320558
G. & J. Saunders & Sons Limited
Filleted Unaudited Financial Statements
For the year ended
28 February 2023
G. & J. Saunders & Sons Limited
Financial Statements
Year ended 28 February 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
G. & J. Saunders & Sons Limited
Officers and Professional Advisers
THE BOARD OF DIRECTORS
G D J Saunders
Mrs E J Saunders
I K J Saunders
P D J Saunders
COMPANY SECRETARY
Mrs E J Saunders
REGISTERED OFFICE
Bullens Farm
Great Paxton
St Neots
Cambs
PE19 6RW
ACCOUNTANTS
Streets
Chartered Accountants
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedfordshire
MK44 3BZ
BANKERS
National Westminster Bank Plc
37 High Street
St Neots
Cambs
PE19 1BP
G. & J. Saunders & Sons Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
48,540
31,100
Current assets
Stocks
52,091
36,694
Debtors
6
32,084
17,608
Cash at bank and in hand
947,970
890,932
------------
---------
1,032,145
945,234
Creditors: amounts falling due within one year
7
97,006
96,966
------------
---------
Net current assets
935,139
848,268
---------
---------
Total assets less current liabilities
983,679
879,368
Provisions
Taxation including deferred tax
9,223
5,909
---------
---------
Net assets
974,456
873,459
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
973,456
872,459
---------
---------
Shareholders funds
974,456
873,459
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
G. & J. Saunders & Sons Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 23 November 2023 , and are signed on behalf of the board by:
G D J Saunders
Director
Company registration number: 03320558
G. & J. Saunders & Sons Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bullens Farm, Great Paxton, St Neots, Cambs, PE19 6RW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Rental income
Income from the rent of land is credited to the statement of income and retained earnings on an accruals basis.
Revenue recognition
The turnover shown in the statement of income and retained earnings represents goods and services provided during the year.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% or 33% reducing balance per annum
Motor vehicles
-
25% reducing balance
Stocks
Goods for resale are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cultivations have been valued by the directors using accepted valuation principles.
Defined contribution pension plans
The company makes contributions to personal pension schemes on behalf of certain directors. The pension costs charged against profits represent contributions payable to the scheme in respect of the accounting year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 March 2022
75,407
48,125
123,532
Additions
10,409
15,000
25,409
--------
--------
---------
At 28 February 2023
85,816
63,125
148,941
--------
--------
---------
Depreciation
At 1 March 2022
64,037
28,395
92,432
Charge for the year
3,036
4,933
7,969
--------
--------
---------
At 28 February 2023
67,073
33,328
100,401
--------
--------
---------
Carrying amount
At 28 February 2023
18,743
29,797
48,540
--------
--------
---------
At 28 February 2022
11,370
19,730
31,100
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
23,749
9,819
Other debtors
8,335
7,789
--------
--------
32,084
17,608
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
58,987
53,966
Social security and other taxes
27,914
30,960
Other creditors
10,105
12,040
--------
--------
97,006
96,966
--------
--------
8. Related party transactions
The company has the use of land and buildings from the directors' rent free. There is no formal agreement in place.