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REGISTERED NUMBER: 00248625 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2023

FOR

TAYLOR & SONS (GROWERS) LIMITED

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAYLOR & SONS (GROWERS) LIMITED

COMPANY INFORMATION
for the Year Ended 30th April 2023







DIRECTORS: R D A Taylor
Mrs B A Taylor
C R Taylor
O T Taylor





SECRETARY: Mrs B A Taylor





REGISTERED OFFICE: Cromwell House Farm
Cromwell
Newark
Nottinghamshire
NG23 6JE





REGISTERED NUMBER: 00248625 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

BALANCE SHEET
30th April 2023

30/4/23 30/4/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,890,114 5,954,736
Investment property 5 300,000 300,000
6,190,114 6,254,736

CURRENT ASSETS
Stocks 454,186 256,706
Debtors 6 41,491 103,208
Cash at bank 206,695 323,529
702,372 683,443
CREDITORS
Amounts falling due within one year 7 142,017 219,806
NET CURRENT ASSETS 560,355 463,637
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,750,469

6,718,373

CREDITORS
Amounts falling due after more than one
year

8

(99,000

)

(132,000

)

PROVISIONS FOR LIABILITIES 10 (296,986 ) (283,757 )
NET ASSETS 6,354,483 6,302,616

CAPITAL AND RESERVES
Called up share capital 11 6,002 6,002
Revaluation reserve 12 3,913,627 3,913,627
Retained earnings 2,434,854 2,382,987
SHAREHOLDERS' FUNDS 6,354,483 6,302,616

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.

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

BALANCE SHEET - continued
30th April 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 16th January 2024 and were signed on its behalf by:




R D A Taylor - Director



Mrs B A Taylor - Director


TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2023

1. STATUTORY INFORMATION

Taylor & Sons (Growers) 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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Implements and equipment - 15% on reducing balance
Office furniture and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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.

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 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.

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.

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Office
Implements furniture
Land and and and
buildings equipment fittings
£    £    £   
COST OR VALUATION
At 1st May 2022 5,498,551 907,216 791
Additions - 2,383 -
At 30th April 2023 5,498,551 909,599 791
DEPRECIATION
At 1st May 2022 - 451,433 693
Charge for year - 66,879 10
At 30th April 2023 - 518,312 703
NET BOOK VALUE
At 30th April 2023 5,498,551 391,287 88
At 30th April 2022 5,498,551 455,783 98

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1st May 2022 11,944 2,513 6,421,015
Additions - - 2,383
At 30th April 2023 11,944 2,513 6,423,398
DEPRECIATION
At 1st May 2022 11,694 2,459 466,279
Charge for year 62 54 67,005
At 30th April 2023 11,756 2,513 533,284
NET BOOK VALUE
At 30th April 2023 188 - 5,890,114
At 30th April 2022 250 54 5,954,736

Cost or valuation at 30th April 2023 is represented by:

Office
Implements furniture
Land and and and
buildings equipment fittings
£    £    £   
Valuation in 2017 4,204,747 - -
Valuation in 2019 (63,803 ) - -
Cost 1,357,607 909,599 791
5,498,551 909,599 791

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2017 - - 4,204,747
Valuation in 2019 - - (63,803 )
Cost 11,944 2,513 2,282,454
11,944 2,513 6,423,398

If land and buildings had not been revalued they would have been included at the following historical cost:

30/4/23 30/4/22
£    £   
Cost 1,264,114 1,264,114

Land and buildings were valued on an open market basis on 30th April 2023 by the directors .

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Implements
and
equipment
£   
COST OR VALUATION
At 1st May 2022
and 30th April 2023 287,000
DEPRECIATION
At 1st May 2022 19,475
Charge for year 40,129
At 30th April 2023 59,604
NET BOOK VALUE
At 30th April 2023 227,396
At 30th April 2022 267,525

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2022
and 30th April 2023 300,000
NET BOOK VALUE
At 30th April 2023 300,000
At 30th April 2022 300,000

Fair value at 30th April 2023 is represented by:
£   
Valuation in 1991 78,008
Valuation in 1998 10,000
Valuation in 2000 20,000
Valuation in 2003 10,000
Valuation in 2004 95,815
Valuation in 2010 10,000
Valuation in 2015 40,000
Cost 36,177
300,000

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023

5. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

30/4/23 30/4/22
£    £   
Cost 36,177 36,177

The investment properties were valued on an open market basis on 30th April 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/23 30/4/22
£    £   
Trade debtors 16,147 72,768
VAT 15,990 21,698
Prepayments 9,354 8,742
41,491 103,208

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/23 30/4/22
£    £   
Bank loans and overdrafts - 1,111
Hire purchase contracts 33,000 61,000
Trade creditors 82,617 115,829
Tax 1,460 15,415
Social security and other taxes 1,403 2,879
Directors' current accounts 17,608 17,608
Accrued expenses 5,929 5,964
142,017 219,806

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/23 30/4/22
£    £   
Hire purchase contracts 99,000 132,000

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30/4/23 30/4/22
£    £   
Bank loans - 1,111
Hire purchase contracts 132,000 193,000
132,000 194,111

The bank loan is secured by first legal mortgages over 83.01 acres of land owned by the company at Norwell and land at Kneesall, Nottinghamshire. The bank also hold a fixed and floating charge over all the assets and undertaking of the company.

10. PROVISIONS FOR LIABILITIES
30/4/23 30/4/22
£    £   
Deferred tax 296,986 283,757

Deferred
tax
£   
Balance at 1st May 2022 283,757
Credit to Other Comprehensive
Income during year
Accelerated capital allowances 13,229
Balance at 30th April 2023 296,986

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/4/23 30/4/22
value: £    £   
6,000 Ordinary £1 6,000 6,000
2 Ordinary "B" £1 2 2
6,002 6,002

12. RESERVES
Revaluation
reserve
£   
At 1st May 2022
and 30th April 2023 3,913,627

13. CONTINGENT LIABILITIES

The Company had no contingent liabilities at 30 April 2023 (2022 - Nil).

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023

14. CAPITAL COMMITMENTS
30/4/23 30/4/22
£    £   
Contracted but not provided for in the
financial statements - -

15. RELATED PARTY DISCLOSURES

During the year, goods with a value of £9,783 (2022 - £9,179) were sold to Mr RDA Taylor. The transactions were all carried out at commercial rates.

16. ULTIMATE CONTROLLING PARTY

Mr RDA Taylor and Mrs BA Taylor together have a controlling interest in the company.