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REGISTERED NUMBER: 00507887 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2023

FOR

S.J.FARRANT & SON LIMITED

S.J.FARRANT & SON LIMITED (REGISTERED NUMBER: 00507887)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S.J.FARRANT & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2023







DIRECTORS: J P Farrant
H A Farrant
G N S Farrant
E J T Farrant
S L Farrant





SECRETARY: S L Farrant





REGISTERED OFFICE: Manor Farm
Drayton St. Leonard
Wallingford
Oxfordshire
OX10 7BE





REGISTERED NUMBER: 00507887 (England and Wales)





ACCOUNTANTS: Martin and Company
Two Brewers House
50 North Street
Thame
Oxfordshire
OX9 3BH

S.J.FARRANT & SON LIMITED (REGISTERED NUMBER: 00507887)

BALANCE SHEET
30TH SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,922,819 1,773,820
Investment property 5 3,863,263 3,863,263
5,786,082 5,637,083

CURRENT ASSETS
Stocks 431,873 599,035
Debtors 6 377,311 88,401
Cash at bank 924,677 1,156,886
1,733,861 1,844,322
CREDITORS
Amounts falling due within one year 7 129,676 285,851
NET CURRENT ASSETS 1,604,185 1,558,471
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,390,267

7,195,554

PROVISIONS FOR LIABILITIES 207,901 118,031
NET ASSETS 7,182,366 7,077,523

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Fair value reserve 8 3,467,292 3,467,292
Retained earnings 3,695,074 3,590,231
SHAREHOLDERS' FUNDS 7,182,366 7,077,523

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

S.J.FARRANT & SON LIMITED (REGISTERED NUMBER: 00507887)

BALANCE SHEET - continued
30TH SEPTEMBER 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 2nd February 2024 and were signed on its behalf by:




G N S Farrant - Director



E J T Farrant - Director


S.J.FARRANT & SON LIMITED (REGISTERED NUMBER: 00507887)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


1. STATUTORY INFORMATION

S.J.Farrant & Son 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 as modified by the revaluation of certain assets.

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.

Land - not depreciated
Buildings - 2% straight line
Plant and machinery - 15% reducing balance (25% reducing balance prior to 30th September 2022)
Motor vehicles - 15% reducing balance (25% reducing balance prior to 30th September 2022)
Computer equipment - 25% reducing balance

The director's agreed to reduce the rate of deprecation applied to plant and machinery and motor vehicles, with immediate effect from 1st October 2022. This is due to the prices of the second hand market.

Investment property, non investment land and buildings
Investment property, non investment land and buildings are all shown at their most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

The director's have agreed to revalue the investment property at 30th September 2024.

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.


S.J.FARRANT & SON LIMITED (REGISTERED NUMBER: 00507887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Pensions
The company pays into defined contribution pension schemes. Contributions are recognised in the profit and loss account in which period they become payable in accordance with the rules of the schemes.

Investment properties
Investment properties are revalued annually at their open market value in accordance with FRS102 (effective October 2016). The surplus or deficit is deemed to be permanent and reduced the property below its historical cost, in which case it is taken to the profit and loss account.

The treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflect in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

The director's have agreed to revalue the investment property at 30th September 2024.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

S.J.FARRANT & SON LIMITED (REGISTERED NUMBER: 00507887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st October 2022 1,186,907 1,794,719 48,995 8,256 3,038,877
Additions - 371,705 - - 371,705
Disposals - (196,376 ) - - (196,376 )
At 30th September 2023 1,186,907 1,970,048 48,995 8,256 3,214,206
DEPRECIATION
At 1st October 2022 104,351 1,117,541 35,287 7,878 1,265,057
Charge for year 13,123 125,248 2,056 95 140,522
Eliminated on disposal - (114,192 ) - - (114,192 )
At 30th September 2023 117,474 1,128,597 37,343 7,973 1,291,387
NET BOOK VALUE
At 30th September 2023 1,069,433 841,451 11,652 283 1,922,819
At 30th September 2022 1,082,556 677,178 13,708 378 1,773,820

During the year, the land and buildings in tangible fixed assets have been included at original cost in accordance with FRS102.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2022
and 30th September 2023 3,863,263
NET BOOK VALUE
At 30th September 2023 3,863,263
At 30th September 2022 3,863,263

Fair value at 30th September 2023 is represented by:
£   
Valuation in 2018 3,800,000
Valuation in 2019 63,263
3,863,263

S.J.FARRANT & SON LIMITED (REGISTERED NUMBER: 00507887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


5. INVESTMENT PROPERTY - continued

The investment properties class of fixed assets was revalued on 27 July 2014 by S P Alden MRICS FAAV and A G Chandler MRICS FAAV for and behalf of Adkin who is external to the company. The basis of this valuation was to value the property at open market value in accordance with the Royal Institution of Chartered Surveyors - Professional Standards 2014. This class of assets has a current value of £3,863,263 (2022 - £3,863,263) and a carrying amount at historical cost of £332,707 (2022 - £332,707). On 31st July 2019 0.5 acres of land at Marshland was purchased to extend the current property held by the company for £63,263.

The director's have agreed to revalue the investment property at 30th September 2024.

The last full valuation of freehold land and buildings was carried out on 27 July 2014.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,325 46,175
Other debtors 4,874 7,364
Due from non directors 5,363 -
Directors' current accounts 2,550 4,313
VAT 11,141 6,929
Prepayments and accrued income 318,058 23,620
377,311 88,401

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 39,154
Trade creditors 48,092 52,372
Tax 11,291 80,521
Social security and other taxes - 8,331
Pensions - 20,500
Other creditors 3,150 3,150
Accruals 21,300 26,300
Deferred income 45,843 55,523
129,676 285,851

8. RESERVES
Fair
value
reserve
£   
At 1st October 2022
and 30th September 2023 3,467,292

9. DIRECTORS LOAN ACCOUNTS

At the year end date, the director's loan accounts are overdrawn by £2,550 (2022: £4,313). These have all been repaid in full within 9 months of this year end date.