Registration number:
J G Fisher Limited
for the Year Ended 30 June 2023
J G Fisher Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
J G Fisher Limited
Company Information
Directors |
R G Fisher Mrs S E Fisher Mrs J M Fisher C M G Fisher |
Company secretary |
Mrs J M Fisher |
Registered office |
|
Bankers |
|
J G Fisher Limited
(Registration number: 00546657)
Balance Sheet as at 30 June 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
Investment property |
- |
|
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
- |
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities: deferred tax |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
4,000 |
|
Profit and loss account |
|
947,356 |
|
Total equity |
|
951,356 |
For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
......................................... |
......................................... |
J G Fisher Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
General information |
The Company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Revenue recognition
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 sales/value added tax, returns, rebates and discounts.
Government grants
Basic payment scheme is received in respect of calendar years. Receipt in contingent upon meeting certain cross compliance rules throughout the scheme year. Once the criteria has been met the income is recognised.
Capital grants are recognised as deferred income and will be released over the useful economic life of the relevant fixed asset.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
J G Fisher Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous accounting periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible assets are stated in the statement of financial position 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
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:
Asset class |
Depreciation method and rate |
Leasehold land |
Over the period of the lease, premiums paid have been written off at 20% per annum and are fully writtten off |
Improvements to leasehold property |
5% or 10% per annum on cost |
Fuel tanks and office equipment |
25% per annum on written down value |
Implements and tackle |
10%, 15% or 25% per annum on written down value |
Tractors, combines and motor vehicles |
10%, 15% or 25% per annum on written down value |
Computer equipment |
20% per annum on cost |
Photovoltaic equipment |
5% per annum on cost |
Investment property
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Entitlements |
10% or 20% per annum on cost |
Farm valuation
The valuation is prepared by professional agents at the lower of cost and net realisable value.
J G Fisher Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Intangible assets |
Entitlements |
Total |
|
Cost or valuation |
||
At 1 July 2022 |
|
|
At 30 June 2023 |
|
|
Amortisation |
||
At 1 July 2022 |
|
|
Amortisation charge |
|
|
At 30 June 2023 |
|
|
Carrying amount |
||
At 30 June 2023 |
|
|
At 30 June 2022 |
|
|
J G Fisher Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Tangible assets |
Freehold land |
Long leasehold buildings |
Plant, machinery, vehicles and equipment |
Photovoltaic equipment |
Total |
|
Cost or valuation |
|||||
At 1 July 2022 |
|
|
|
|
|
Additions |
- |
- |
|
- |
|
Disposals |
- |
- |
( |
- |
( |
At 30 June 2023 |
|
|
|
|
|
Depreciation |
|||||
At 1 July 2022 |
- |
|
|
|
|
Charge for the year |
- |
|
|
|
|
Eliminated on disposal |
- |
- |
( |
- |
( |
At 30 June 2023 |
- |
|
|
|
|
Carrying amount |
|||||
At 30 June 2023 |
|
|
|
|
|
At 30 June 2022 |
|
|
|
|
|
J G Fisher Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Investment properties |
2023 |
|
At 1 July |
|
Disposals |
( |
At 30 June |
- |
Debtors |
Current |
2023 |
2022 |
Trade debtors |
|
|
Prepayments |
|
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
Accruals and deferred income |
36,213 |
39,318 |
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
|
Deferred income |
|
|
|
248,780 |
624,212 |
Loans and borrowings include facilities which are secured on land and property owned by the company of £424,425 (2022 - £538,904) and a bank loan secured on land owned by a director of £12,000 (2022 - £12,800) and net obligations under hire purchase contracts which are secured on their respective assets of £17,777 (2022 - £17,307).
Included in deferred income is £25,506 (2022 - £29,587) due after more than five years, by instalments.
J G Fisher Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
|
Due after one year |
|||
Loans and borrowings |
|
|
|
Deferred income |
|
|
|
|
|
Loans and borrowings include a bank loan secured on land owned by a director of £163.480 (2022 - £174,236) and a bank loan secured on property owned by the company of £nil (2022 - £72,800) and net obligations under hire purchase contracts which are secured on their respective assets of £nil (2022 - £17,777).
Creditors includes a bank loan repayable by instalments of £115,480 (2022 - £123,036) due after more than five years.
Loans and borrowings |
2023 |
2022 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
|
Hire purchase liabilities |
- |
|
Redeemable preference shares |
|
|
Other borrowings |
- |
|
|
|
2023 |
2022 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
Bank overdrafts |
|
|
Hire purchase liabilities |
|
|
Other borrowings |
|
- |
|
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
J G Fisher Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Related party transactions |
Transactions with directors |
2023 |
At 1 July 2022 |
Advances to Director |
Repayments by Director |
At 30 June 2023 |
Mrs J M Fisher |
||||
Loan account |
|
- |
( |
- |
C M G Fisher |
||||
Loan account |
|
- |
( |
- |
R G Fisher |
||||
Loan account |
- |
|
- |
|
Mrs S E Fisher |
||||
Loan account |
- |
|
- |
|
No interest has been charged in respect of these balances.
2022 |
At 1 July 2021 |
Advances to Director |
Repayments by Director |
At 30 June 2022 |
Mrs J M Fisher |
||||
Loan account |
|
|
( |
|
C M G Fisher |
||||
Loan account |
|
|
( |
|