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REGISTERED NUMBER: 00436340 (England and Wales)










Financial Statements

for the Year Ended 31 December 2023

for

R.Massey & Son(Woodville)Limited

R.Massey & Son(Woodville)Limited (Registered number: 00436340)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


R.Massey & Son(Woodville)Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P B Massey
R Massey





SECRETARY: P B Massey





REGISTERED OFFICE: 129 Swadlincote Road
Woodville
Swadlincote
Derbyshire
DE11 8DA





REGISTERED NUMBER: 00436340 (England and Wales)





ACCOUNTANTS: Bourne & Co
Chartered Accountants
6 Lichfield Street
Burton-on-Trent
Staffordshire
DE14 3RD

R.Massey & Son(Woodville)Limited (Registered number: 00436340)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 545,121 506,341
Investments 5 100 100
Investment property 6 180,000 180,000
725,221 686,441

CURRENT ASSETS
Stocks 1,589,058 1,724,598
Debtors 119,357 132,165
Cash at bank and in hand 362,541 89,499
2,070,956 1,946,262
CREDITORS
Amounts falling due within one year 420,951 404,438
NET CURRENT ASSETS 1,650,005 1,541,824
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,375,226

2,228,265

CREDITORS
Amounts falling due after more than
one year

7

(179,290

)

(180,827

)

PROVISIONS FOR LIABILITIES (67,455 ) (57,417 )
NET ASSETS 2,128,481 1,990,021

R.Massey & Son(Woodville)Limited (Registered number: 00436340)

Abridged Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 2,252 2,252
Fair value reserve 11 145,769 145,769
Retained earnings 11 1,980,460 1,842,000
SHAREHOLDERS' FUNDS 2,128,481 1,990,021

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

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 March 2024 and were signed on its behalf by:





R Massey - Director


R.Massey & Son(Woodville)Limited (Registered number: 00436340)

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

1. STATUTORY INFORMATION

R.Massey & Son(Woodville)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. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements- 5% on cost
Fixtures, fittings and
equipment

-

various rates on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 33 1/3% on cost

Government grants
Grants received towards capital expenditure are accounted for on the accruals basis and are released to the profit and loss account to match the depreciation policy of the asset to which they relate.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on the fair value movements.

R.Massey & Son(Woodville)Limited (Registered number: 00436340)

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

2. ACCOUNTING POLICIES - continued

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.

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.

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.

Debtors
Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Creditors
Short term creditors are measured at transaction price.

Grants
Grants received towards capital expenditure are accounted for on the accruals basis and are released to the profit and loss account to match the depreciation policy of the asset to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 33 ) .

R.Massey & Son(Woodville)Limited (Registered number: 00436340)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 1,142,881
Additions 158,304
Disposals (74,667 )
At 31 December 2023 1,226,518
DEPRECIATION
At 1 January 2023 636,540
Charge for year 80,149
Eliminated on disposal (35,292 )
At 31 December 2023 681,397
NET BOOK VALUE
At 31 December 2023 545,121
At 31 December 2022 506,341

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 180,000
NET BOOK VALUE
At 31 December 2023 180,000
At 31 December 2022 180,000

R.Massey & Son(Woodville)Limited (Registered number: 00436340)

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

6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 30,000
Valuation in 2015 136,888
Cost 13,112
180,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 19,865 19,865
Aggregate depreciation (9,930 ) (9,533 )

Investment property was valued on an open market value basis on 31 December 2023 by the directors .

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.12.23 31.12.22
£    £   
Repayable by instalments
Bank loans 65,265 93,730

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 19,667 19,667

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 180,657 199,773

The bank borrowings is secured on the company's freehold property along with a fixed and floating charge over all other assets dated 2 July 2013.

R.Massey & Son(Woodville)Limited (Registered number: 00436340)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2,252 Ordinary £ 2,252 2,252

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2023 1,842,000 145,769 1,987,769
Profit for the year 194,460 194,460
Dividends (56,000 ) (56,000 )
At 31 December 2023 1,980,460 145,769 2,126,229