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Registration number: 04545017

J Drinkall Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2023

Pages for filing with Registrar

 

J Drinkall Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Abridged Financial Statements

4 to 10

 

J Drinkall Limited

Company Information

Directors

Miss H L Drinkall

Mr I J Drinkall

Registered office

Telfor's Barn
Moor Road
Anglezarke
Chorley
PR6 9DG

 

J Drinkall Limited

(Registration number: 04545017)
Abridged Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

690,601

678,410

Current assets

 

Stocks

71,415

78,241

Debtors

39,587

77,276

Cash at bank and in hand

 

606,090

830,824

 

717,092

986,341

Prepayments and accrued income

 

226,767

95,424

Creditors: Amounts falling due within one year

(62,241)

(119,586)

Net current assets

 

881,618

962,179

Total assets less current liabilities

 

1,572,219

1,640,589

Provisions for liabilities

(38,201)

(41,344)

Accruals and deferred income

 

(74,594)

(90,811)

Net assets

 

1,459,424

1,508,434

Capital and reserves

 

Called up share capital

50

50

Retained earnings

1,459,374

1,508,384

Shareholders' funds

 

1,459,424

1,508,434

 

J Drinkall Limited

(Registration number: 04545017)
Abridged Balance Sheet as at 30 September 2023 (continued)

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 Board on 10 April 2024 and signed on its behalf by:
 

.........................................
Mr I J Drinkall
Director

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Telfor's Barn
Moor Road
Anglezarke
Chorley
PR6 9DG
United Kingdom

These financial statements were authorised for issue by the Board on 10 April 2024.

2

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 abridged 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 abridged 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 are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

Key sources of estimation uncertainty

Tangible fixed assets, other than investment properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.. The carrying amount is £690,601 (2022 -£678,410).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The company recognises government grants on the accruals model under FRS102.

Grants that compensate the company for expenses incurred are recognised in profit or loss on a systematic basis in the periods in which the expenses are recognised.

Tax

The tax expense for the period comprises current and 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 Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Land and Buildings

2% Straight line, Land not depreciated

Plant and Machinery

20% Reducing balance

Motor Vehicles

25% Reducing balance

Intangible assets

Single Payment Schemes are shown at historical cost.

Single Payment Scheme intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

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

SPS Entitlements

20% Straight line

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods comprises direct materials. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Financial instruments

Classification
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company’s statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2023 (continued)

4

Intangible assets

Total
£

Cost or valuation

At 1 October 2022

16,997

At 30 September 2023

16,997

Amortisation

At 1 October 2022

16,997

At 30 September 2023

16,997

Carrying amount

At 30 September 2023

-

5

Tangible assets

Total
£

Cost or valuation

At 1 October 2022

1,062,959

Additions

71,784

Disposals

(14,018)

At 30 September 2023

1,120,725

Depreciation

At 1 October 2022

384,549

Charge for the year

49,826

Eliminated on disposal

(4,251)

At 30 September 2023

430,124

Carrying amount

At 30 September 2023

690,601

At 30 September 2022

678,410

 

J Drinkall Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2023 (continued)

5

Tangible assets (continued)

Included within the net book value of land and buildings above is £387,541 (2022 - £345,955) in respect of freehold land and buildings.
 

6

Related party transactions

Loans to related parties

2023

Key management
£

At start of period

56,091

Repaid

(33,107)

Interest at 2.25%

947

At end of period

23,931

2022

Key management
£

At start of period

5,086

Advanced and repaid

50,592

Interest at 2.00%

413

At end of period

56,091

Loans owed by key management are repayable on demand.