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REGISTERED NUMBER: 07215656 (England and Wales)














Jack Buck (Farms) Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






Jack Buck (Farms) Limited (Registered number: 07215656)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


Jack Buck (Farms) Limited

Company Information
for the Year Ended 31 May 2023







Directors: D J Buck
R J Buck
J P F Perowne
Mrs P A Perowne





Secretary: Mrs P A Perowne





Registered office: Green Lane
Moulton Seas End
Spalding
Lincolnshire
PE12 6LT





Registered number: 07215656 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Jack Buck (Farms) Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jack Buck (Farms) Limited for the year ended 31 May 2023 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Jack Buck (Farms) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jack Buck (Farms) Limited and state those matters that we have agreed to state to the Board of Directors of Jack Buck (Farms) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jack Buck (Farms) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jack Buck (Farms) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jack Buck (Farms) Limited. You consider that Jack Buck (Farms) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jack Buck (Farms) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


25 January 2024

Jack Buck (Farms) Limited (Registered number: 07215656)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 7,547,095 7,423,031
Investments 6 18,879 18,879
7,565,974 7,441,910

Current assets
Stocks 1,558,659 1,543,177
Debtors 7 1,811,042 1,399,236
Cash at bank 585,921 299,185
3,955,622 3,241,598
Creditors
Amounts falling due within one year 8 1,497,408 941,864
Net current assets 2,458,214 2,299,734
Total assets less current liabilities 10,024,188 9,741,644

Creditors
Amounts falling due after more than one
year

9

(2,965,845

)

(3,115,308

)

Provisions for liabilities (844,103 ) (898,566 )
Net assets 6,214,240 5,727,770

Capital and reserves
Called up share capital 11 1,000 1,000
Retained earnings 6,213,240 5,726,770
Shareholders' funds 6,214,240 5,727,770

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

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

Jack Buck (Farms) Limited (Registered number: 07215656)

Statement of Financial Position - continued
31 May 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2024 and were signed on its behalf by:




R J Buck - Director D J Buck - Director




J P F Perowne - Director Mrs P A Perowne - Director


Jack Buck (Farms) Limited (Registered number: 07215656)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. Statutory information

Jack Buck (Farms) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.

Freehold land - not depreciated
Property improvements - 2% on cost
Plant & machinery - 15% on written down value & 7% on cost
Motor vehicles - 25% on written down value
Office equipment - 10% on cost
Boxes - 8% on cost
Computer equipment - 33.33% on cost

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 Statement of Income and Retained Earnings, 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 statement of financial position date.


Jack Buck (Farms) Limited (Registered number: 07215656)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Farm support income
Farm support income accrues evenly up to 31 December in each claim year in the financial statements. In the event that the conditions for the receipt of the Basic Payment have not been met, income recognition is deferred until such time as those conditions can be assumed to have been met, and there is reasonable assurance that the payment will be received.

4. Employees and directors

The average number of employees during the year was 21 (2022 - 21 ) .

5. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 June 2022 3,063,303 7,532,713 10,596,016
Additions 1,734,191 986,533 2,720,724
Disposals (1,368,568 ) (1,129,803 ) (2,498,371 )
At 31 May 2023 3,428,926 7,389,443 10,818,369
Depreciation
At 1 June 2022 191,885 2,981,100 3,172,985
Charge for year 35,577 613,641 649,218
Eliminated on disposal (31,091 ) (519,838 ) (550,929 )
At 31 May 2023 196,371 3,074,903 3,271,274
Net book value
At 31 May 2023 3,232,555 4,314,540 7,547,095
At 31 May 2022 2,871,418 4,551,613 7,423,031

Jack Buck (Farms) Limited (Registered number: 07215656)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


6. Fixed asset investments
Unlisted
investments
£   
Cost
At 1 June 2022
and 31 May 2023 18,879
Net book value
At 31 May 2023 18,879
At 31 May 2022 18,879

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 1,641,061 1,255,855
VAT 38,543 32,768
Prepayments and accrued income 131,438 110,613
1,811,042 1,399,236

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 206,618 207,214
Trade creditors 886,607 473,902
Amounts owed to group undertakings 234,011 171,289
Social security and other taxes 26,622 10,000
Hire purchase liabilities 124,543 43,371
Accruals and deferred income 19,007 36,088
1,497,408 941,864

The bank loans are secured by a legal charge over certain freehold land owned by the company.

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 1,353,314 1,556,928
Amounts owed to group undertakings 1,515,000 1,515,000
Hire purchase liabilities 97,531 43,380
2,965,845 3,115,308

The bank loans are secured by a legal charge over certain freehold land owned by the company.

Included within creditors: amounts falling due after more than one year is an amount of £652,090 (2022 £818,183) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Jack Buck (Farms) Limited (Registered number: 07215656)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


10. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 160,508 160,508

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
750 Ordinary A £1 750 750
250 Ordinary B £1 250 250
1,000 1,000

All shares are voting ordinary shares ranking pari passu, but a dividend can be voted on one class of shares independently of the other.

12. Controlling party

The parent company is Jack Buck (Holdings) Limited.