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REGISTERED NUMBER: 04581017 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

M.E. Ayres & Sons Limited

M.E. Ayres & Sons Limited (Registered number: 04581017)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


M.E. Ayres & Sons Limited (Registered number: 04581017)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 692,295 524,027
692,295 524,027

Current assets
Stocks 109,531 87,832
Debtors 7 223,255 220,034
Cash at bank and in hand 773,299 739,730
1,106,085 1,047,596
Creditors
Amounts falling due within one year 8 (363,278 ) (335,517 )
Net current assets 742,807 712,079
Total assets less current liabilities 1,435,102 1,236,106

Creditors
Amounts falling due after more than one
year

9

(255,889

)

(261,490

)

Provisions for liabilities (167,265 ) (94,340 )
Net assets 1,011,948 880,276

Capital and reserves
Called up share capital 100 100
Retained earnings 1,011,848 880,176
1,011,948 880,276

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

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

M.E. Ayres & Sons Limited (Registered number: 04581017)

Balance Sheet - continued
30 November 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 2 April 2024 and were signed on its behalf by:





Mr S J Ayres - Director


M.E. Ayres & Sons Limited (Registered number: 04581017)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. Statutory information

M.E. Ayres & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04581017

Registered office: The Gables
Bircham Road
Stanhoe
King's Lynn
Norfolk
PE31 8PU

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.

These individual financial statements are prepared in sterling, which is the functional currency of the entity.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Given the straightforward operations and financial position of the company, there are not considered to be
any key sources of judgement or estimation uncertainty within these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

M.E. Ayres & Sons Limited (Registered number: 04581017)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property - 12% reducing balance
Plant and machinery - 12.5% and 15% reducing balance
Motor vehicles - 25% reducing balance


Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

M.E. Ayres & Sons Limited (Registered number: 04581017)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises of 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 balance sheet date.


M.E. Ayres & Sons Limited (Registered number: 04581017)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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 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.

4. Employees and directors

The average number of employees during the year was 13 (2022 - 14 ) .

5. Intangible fixed assets
Goodwill
£
Cost
At 1 December 2022
and 30 November 2023 169,591
Amortisation
At 1 December 2022
and 30 November 2023 169,591
Net book value
At 30 November 2023 -
At 30 November 2022 -

M.E. Ayres & Sons Limited (Registered number: 04581017)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


6. Tangible fixed assets
Freehold Plant and Motor
property machinery vehicles Totals
£ £ £ £
Cost
At 1 December 2022 41,067 138,480 1,237,465 1,417,012
Additions - - 377,620 377,620
Disposals - (8,902 ) (159,133 ) (168,035 )
At 30 November 2023 41,067 129,578 1,455,952 1,626,597
Depreciation
At 1 December 2022 29,172 112,170 751,643 892,985
Charge for year 1,487 3,481 147,430 152,398
Eliminated on disposal - (8,556 ) (102,525 ) (111,081 )
At 30 November 2023 30,659 107,095 796,548 934,302
Net book value
At 30 November 2023 10,408 22,483 659,404 692,295
At 30 November 2022 11,895 26,310 485,822 524,027

7. Debtors: amounts falling due within one year
30.11.23 30.11.22
£ £
Trade debtors 215,574 214,388
Other debtors 7,681 5,646
223,255 220,034

8. Creditors: amounts falling due within one year
30.11.23 30.11.22
£ £
Hire purchase contracts 77,425 22,812
Trade creditors 101,887 212,595
Taxation and social security 87,487 94,140
Other creditors 96,479 5,970
363,278 335,517

9. Creditors: amounts falling due after more than one year
30.11.23 30.11.22
£ £
Hire purchase contracts 56,200 30,074
Other creditors 199,689 231,416
255,889 261,490

M.E. Ayres & Sons Limited (Registered number: 04581017)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


10. Related party disclosures

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.