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REGISTERED NUMBER: 00230071 (England and Wales)






















Unaudited Financial Statements for the Year Ended 30th April 2023

for

T E Richardson & Co Limited

T E Richardson & Co Limited (Registered number: 00230071)






Contents of the Financial Statements
for the year ended 30th April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


T E Richardson & Co Limited

Company Information
for the year ended 30th April 2023







DIRECTORS: Mrs S E Richardson
T E Richardson Jnr





SECRETARY: Ms M F Richardson





REGISTERED OFFICE: Low Farm
Gransmoor
Driffield
East Yorkshire
YO25 8HZ





REGISTERED NUMBER: 00230071 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

T E Richardson & Co Limited (Registered number: 00230071)

Balance Sheet
30th April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,668 7,709

CURRENT ASSETS
Stocks 18,152 20,192
Debtors 5 26,987 9,463
Cash at bank 55,732 77,710
100,871 107,365
CREDITORS
Amounts falling due within one year 6 40,413 28,258
NET CURRENT ASSETS 60,458 79,107
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,126

86,816

CAPITAL AND RESERVES
Called up share capital 2,750 2,750
Capital reserve 3,990 3,990
Retained earnings 61,386 80,076
SHAREHOLDERS' FUNDS 68,126 86,816

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

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th April 2024 and were signed on its behalf by:




Mrs S E Richardson - Director


T E Richardson & Co Limited (Registered number: 00230071)

Notes to the Financial Statements
for the year ended 30th April 2023

1. STATUTORY INFORMATION

T E Richardson & Co 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.

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.

Turnover
Turnover represents sales of farm produce and farm subsidies net of VAT and trade discounts. Turnover is recognised when the economic risks and rewards pass to third parties.

Tangible fixed assets
Depreciation is calculated on the reducing balance method and aims to write down the cost of all fixed assets over their expected useful lives: The rates generally applicable are:-
Freehold premises12.5% on drainage schemes and certain
buildings and 4% on other buildings
Plant and equipment12.5%

Stocks
Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous 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.

Grants
Grants of a revenue nature which are made to finance general activities over a specific period or to compensate for a loss of a current or future income are credited to the profit and loss account in the period in which they are received.


T E Richardson & Co Limited (Registered number: 00230071)

Notes to the Financial Statements - continued
for the year ended 30th April 2023

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st May 2022
and 30th April 2023 15,475 1,430 16,905
DEPRECIATION
At 1st May 2022 8,094 1,102 9,196
Charge for year - 41 41
At 30th April 2023 8,094 1,143 9,237
NET BOOK VALUE
At 30th April 2023 7,381 287 7,668
At 30th April 2022 7,381 328 7,709

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,918 -
Other debtors 8,069 9,463
26,987 9,463

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 28,180 15,697
Other creditors 12,233 12,561
40,413 28,258