REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
G. & M. GROWERS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
G. & M. GROWERS LIMITED |
G. & M. GROWERS LIMITED (REGISTERED NUMBER: 01633207) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
G. & M. GROWERS LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 AUGUST 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
260 - 270 Butterfield |
Great Marlings |
Luton |
Bedfordshire |
LU2 8DL |
G. & M. GROWERS LIMITED (REGISTERED NUMBER: 01633207) |
BALANCE SHEET |
31 AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
G. & M. GROWERS LIMITED (REGISTERED NUMBER: 01633207) |
BALANCE SHEET - continued |
31 AUGUST 2023 |
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 |
G. & M. GROWERS LIMITED (REGISTERED NUMBER: 01633207) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
G. & M. Growers Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and shop takings, excluding value added tax. |
Rental income |
Rental income is recognised when the company is entitled to receive income based on the contractual agreements in force. |
Tangible fixed assets |
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Buildings | - 2% on cost |
Plant and Machinery | - 15% on reducing balance |
Motor vehicles | - 25% on reducing balance |
Buildings represent the building costs of the warehouse and shop premises from which the company operates. The freehold land on which the buildings stand is owned personally by the director Mr D Metcalfe. |
Grants received |
Grants received in relation to fixed assets are recognised in income on a systematic basis over the expected useful life of the asset to which it relates. |
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. |
In accordance with the Financial Reporting Standards, investment properties are revalued annually. |
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. |
G. & M. GROWERS LIMITED (REGISTERED NUMBER: 01633207) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 AUGUST 2023 |
2. | 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
Buildings | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2022 |
and 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
G. & M. GROWERS LIMITED (REGISTERED NUMBER: 01633207) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 AUGUST 2023 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 August 2023 is represented by: |
£ |
Valuation in 2023 | 4,088,564 |
If the investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 3,155,664 | 3,155,664 |
The investment property was valued on an open market basis on 31 August 2023 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Directors' loan accounts | 5,191 | 3,851 |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Taxation and social security |
Directors' loan accounts | 2,780 | 3,010 |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Name: | Nominal | 2023 | 2022 |
value: | £ | £ |
4,500 | Ordinary | £1 | 4,500 | 4,500 |
200 | A Ordinary | £1 | 200 | 200 |
150 | B Ordinary | £1 | 150 | 150 |
150 | C Ordinary | £1 | 150 | 150 |
5,000 | 5,000 |
All shares rank pari passu equally in all regards except that each class of shares has a right to receive dividends payable to that class of shares only. |
G. & M. GROWERS LIMITED (REGISTERED NUMBER: 01633207) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 AUGUST 2023 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Overdrawn director loans have been repaid in full shortly after the year end. |
10. | ULTIMATE CONTROLLING PARTY |
The company's ultimate parent and controlling party is England and Wales. The registered address of the parent company is 260-270 Butterfield Great Marlings, Luton, Bedfordshire, England, LU2 8DL. The trading address of the parent company is 79 Hitchin Road, Upper Caldecote, Biggleswade, Beds, SG18 9BU. |