Silverfin false 30/04/2023 01/05/2022 30/04/2023 C J W Down 16/04/2015 J W Down 28/04/2015 L Down 28/11/2022 S R J Down 16/04/2015 21 November 2023 The principal activity of the Company during the financial year was dairy farming. 09546474 2023-04-30 09546474 bus:Director1 2023-04-30 09546474 bus:Director2 2023-04-30 09546474 bus:Director3 2023-04-30 09546474 bus:Director4 2023-04-30 09546474 2022-04-30 09546474 core:CurrentFinancialInstruments 2023-04-30 09546474 core:CurrentFinancialInstruments 2022-04-30 09546474 core:ShareCapital 2023-04-30 09546474 core:ShareCapital 2022-04-30 09546474 core:RetainedEarningsAccumulatedLosses 2023-04-30 09546474 core:RetainedEarningsAccumulatedLosses 2022-04-30 09546474 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2022-04-30 09546474 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2023-04-30 09546474 core:LandBuildings 2022-04-30 09546474 core:LeaseholdImprovements 2022-04-30 09546474 core:PlantMachinery 2022-04-30 09546474 core:Vehicles 2022-04-30 09546474 core:LandBuildings 2023-04-30 09546474 core:LeaseholdImprovements 2023-04-30 09546474 core:PlantMachinery 2023-04-30 09546474 core:Vehicles 2023-04-30 09546474 core:ConsumableBiologicalAssetClass1 2022-04-30 09546474 core:ConsumableBiologicalAssetClass1 2023-04-30 09546474 core:CostValuation 2022-04-30 09546474 core:AdditionsToInvestments 2023-04-30 09546474 core:CostValuation 2023-04-30 09546474 core:ProvisionsForImpairmentInvestments 2022-04-30 09546474 core:ProvisionsForImpairmentInvestments 2023-04-30 09546474 5 2023-04-30 09546474 5 2022-04-30 09546474 6 2023-04-30 09546474 6 2022-04-30 09546474 2022-05-01 2023-04-30 09546474 bus:FullAccounts 2022-05-01 2023-04-30 09546474 bus:SmallEntities 2022-05-01 2023-04-30 09546474 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 09546474 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 09546474 bus:Director1 2022-05-01 2023-04-30 09546474 bus:Director2 2022-05-01 2023-04-30 09546474 bus:Director3 2022-05-01 2023-04-30 09546474 bus:Director4 2022-05-01 2023-04-30 09546474 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2022-05-01 2023-04-30 09546474 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 09546474 core:LeaseholdImprovements core:TopRangeValue 2022-05-01 2023-04-30 09546474 core:PlantMachinery 2022-05-01 2023-04-30 09546474 core:Vehicles 2022-05-01 2023-04-30 09546474 2021-05-01 2022-04-30 09546474 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2022-05-01 2023-04-30 09546474 core:LandBuildings 2022-05-01 2023-04-30 09546474 core:LeaseholdImprovements 2022-05-01 2023-04-30 09546474 core:ConsumableBiologicalAssetClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 09546474 (England and Wales)

J, S AND J DOWN LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

J, S AND J DOWN LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

J, S AND J DOWN LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2023
J, S AND J DOWN LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2023
DIRECTORS C J W Down
J W Down
L Down
S R J Down
SECRETARY S R J Down
REGISTERED OFFICE Goodwood House
Blackbrook Park Avenue
Taunton
TA1 2PX
United Kingdom
COMPANY NUMBER 09546474 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
J, S AND J DOWN LIMITED

BALANCE SHEET

As at 30 April 2023
J, S AND J DOWN LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 10,185
Tangible assets 4 1,200,057 665,242
Biological assets 5 272,000 273,800
Investments 6 128,293 103,729
1,600,350 1,052,956
Current assets
Stocks 7 299,113 267,637
Debtors 8 220,195 119,262
Cash at bank and in hand 251,163 329,337
770,471 716,236
Creditors: amounts falling due within one year 9 ( 480,506) ( 259,852)
Net current assets 289,965 456,384
Total assets less current liabilities 1,890,315 1,509,340
Provision for liabilities ( 157,410) ( 115,768)
Net assets 1,732,905 1,393,572
Capital and reserves
Called-up share capital 520 520
Profit and loss account 1,732,385 1,393,052
Total shareholders' funds 1,732,905 1,393,572

For the financial year ending 30 April 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 J, S and J Down Limited (registered number: 09546474) were approved and authorised for issue by the Board of Directors on 21 November 2023. They were signed on its behalf by:

C J W Down
Director
S R J Down
Director
J W Down
Director
L Down
Director
J, S AND J DOWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
J, S AND J DOWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

J, S and J Down Limited (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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 is recognised at the fair value of the consideration received or receivable for the sale of milk, livestock , crops and the receipt of government grants. Turnover is shown net of VAT and is recognised at the point of dispatch of the sale of milk, livestock and crops and in the period to which government grants relate.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Government grants

Income from government grants is recognised within turnover when the conditions of receipt have been complied with and there is reasonable assurance that the grant will be received.

Intangible assets

Intangible assets include Basic Payment Scheme entitlements which are stated at cost less accumulated amortisation and any provision for impairment. Amortisation is provided at rates to write off the cost of the asset over its expected useful life as follows:

Entitlements 7 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 20 years straight line
Leasehold improvements 20 years straight line
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Biological assets

Biological assets held for continuing use within the business are classified as fixed assets. Such assets are measured at cost less accumulated depreciation and impairment. Assets within the classification comprise a dairy herd. Biological assets not held for continuing use within the business are classified as current assets, such assets are held with stock.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Fixed asset investments are investments in Cooperative which are measured at fair value, the valuation is reviewed at the date of the financial statements and reconciled to the members capital account.

Stocks

Stocks comprising agricultural produce (i.e crops in store) are stated at the lower of cost and estimated selling price less costs to complete and sell. Agricultural produce (i.e crops in store) harvested from biological assets are measured at the point of harvest. Also included in stock is £240,588 (2022: £228,612) of Biological current assets not held for continuing use within the business. Such assets are measured at cost less accumulated impairment. Assets within this classification comprise dairy followers and tillages.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. Other debtor is made up of VAT repayments due to the company.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Included within other creditors are amounts due to directors and other related parties.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Intangible assets

Entitlements Total
£ £
Cost
At 01 May 2022 71,307 71,307
At 30 April 2023 71,307 71,307
Accumulated amortisation
At 01 May 2022 61,122 61,122
Charge for the financial year 10,185 10,185
At 30 April 2023 71,307 71,307
Net book value
At 30 April 2023 0 0
At 30 April 2022 10,185 10,185

4. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £ £
Cost
At 01 May 2022 0 93,599 988,310 21,995 1,103,904
Additions 515,595 30,000 182,059 9,500 737,154
Disposals 0 0 ( 192,788) 0 ( 192,788)
At 30 April 2023 515,595 123,599 977,581 31,495 1,648,270
Accumulated depreciation
At 01 May 2022 0 17,758 405,185 15,719 438,662
Charge for the financial year 0 5,893 123,738 1,572 131,203
Disposals 0 0 ( 121,652) 0 ( 121,652)
At 30 April 2023 0 23,651 407,271 17,291 448,213
Net book value
At 30 April 2023 515,595 99,948 570,310 14,204 1,200,057
At 30 April 2022 0 75,841 583,125 6,276 665,242

5. Biological assets

2023
£
Biological assets at cost 272,000

Assets held at cost:

Dairy Total
£ £
Cost
At 01 May 2022 303,000 303,000
Decrease attributable to sales ( 2,000) ( 2,000)
At 30 April 2023 301,000 301,000
Accumulated depreciation
At 01 May 2022 29,200 29,200
Decrease attributable to sales ( 200) ( 200)
At 30 April 2023 29,000 29,000
Net book value
At 30 April 2023 272,000 272,000
At 30 April 2022 273,800 273,800

6. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 May 2022 103,729 103,729
Additions 24,564 24,564
At 30 April 2023 128,293 128,293
Provisions for impairment
At 01 May 2022 0 0
At 30 April 2023 0 0
Carrying value at 30 April 2023 128,293 128,293
Carrying value at 30 April 2022 103,729 103,729

7. Stocks

2023 2022
£ £
Stocks 58,525 39,025
Livestock 181,988 173,532
Crops 58,600 55,080
299,113 267,637

Livestock includes £181,988 (2022: £173,532) of current biological assets not held for continuing use within the business, being dairy followers and beef animals.
Cops includes £58,600 (2022: £55,080) of current biological assets not held for continuing use within the business, being tillages.

8. Debtors

2023 2022
£ £
Trade debtors 190,587 67,225
Other debtors 29,608 52,037
220,195 119,262

9. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 76,019 154,357
Amounts owed to directors 96,161 24,386
Accruals 184,867 20,177
Taxation and social security 123,459 57,032
Other creditors 0 3,900
480,506 259,852

10. Related party transactions

J W Down Director Loan Account - During the year there were advances to the director of £70,094 and repayments by the director of £(38,325). At 30/04/2023 the company owed J W Down £55,599 (2022: £23,830).

C J W Down & S R J Down joint Director Loan Account - During the year there were advances to the directors of £71,000 and repayments by the directors of £(47,297). At 30/04/2023 the company owed C J W Down & S R J Down £24,259 (2022: £556).

L J Down Director Loan Account - During the year there were advances to the director of £25,600 and repayments by the director of £(9,296). At 30/04/2023 the company owed J W Down £16,304 (2022: £0).

All Director Loan Accounts are repayable on demand.