2022-07-062023-07-052023-07-05false04687487J & V CASEY AND SON 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J & V CASEY AND SON LIMITED

Registered Number
04687487
(England and Wales)

Unaudited Financial Statements for the Year ended
5 July 2023

J & V CASEY AND SON LIMITED
Company Information
for the year from 6 July 2022 to 5 July 2023

Directors

Mrs J M Casey
Mr M J Casey

Company Secretary

Mrs J M Casey

Registered Address

Willow Farm
Dogdyke New York
Lincoln
LN4 4UY

Place of Business

Willow Farm

Dogdyke New York

Lincoln

LN4 4UY


Registered Number

04687487 (England and Wales)
J & V CASEY AND SON LIMITED
Balance Sheet as at
5 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets613,78813,788
Tangible assets72,304,3942,223,447
2,318,1822,237,235
Current assets
Stocks8475,330444,272
Debtors9531,050457,272
Current asset investments6060
Cash at bank and on hand75,03249
1,081,472901,653
Creditors amounts falling due within one year10(677,652)(708,604)
Net current assets (liabilities)403,820193,049
Total assets less current liabilities2,722,0022,430,284
Creditors amounts falling due after one year11(1,633,308)(1,554,558)
Net assets1,088,694875,726
Capital and reserves
Called up share capital100100
Profit and loss account1,088,594875,626
Shareholders' funds1,088,694875,726
The financial statements were approved and authorised for issue by the Board of Directors on 25 January 2024, and are signed on its behalf by:
Mr M J Casey
Director
Registered Company No. 04687487
J & V CASEY AND SON LIMITED
Notes to the Financial Statements
for the year ended 5 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings-10
Vehicles25-
Office Equipment15-
Intangible assets policy
Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated impairment losses.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year77
6.Intangible assets

Other

Total

££
Cost or valuation
At 06 July 2213,78813,788
At 05 July 2313,78813,788
Net book value
At 05 July 2313,78813,788
At 05 July 2213,78813,788
7.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 06 July 221,230,358949,54427,200797,1436,9833,011,228
Additions-188,60012,995--201,595
Disposals-(87,000)---(87,000)
At 05 July 231,230,3581,051,14440,195797,1436,9833,125,823
Depreciation and impairment
At 06 July 22-602,84215,336163,8805,723787,781
Charge for year-54,9895,1336,13030466,556
On disposals-(32,908)---(32,908)
At 05 July 23-624,92320,469170,0106,027821,429
Net book value
At 05 July 231,230,358426,22119,726627,1339562,304,394
At 05 July 221,230,358346,70211,864633,2631,2602,223,447
8.Stocks

2023

2022

££
Other stocks475,330444,272
Total475,330444,272
9.Debtors

2023

2022

££
Trade debtors / trade receivables245,913197,391
Amounts owed by group undertakings215,280214,930
Other debtors55,78933,066
Prepayments and accrued income14,06811,885
Total531,050457,272
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables244,166276,448
Bank borrowings and overdrafts30,342105,889
Taxation and social security13,691-
Finance lease and HP contracts44,3908,990
Other creditors273,457289,293
Accrued liabilities and deferred income71,60627,984
Total677,652708,604
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts1,515,2581,545,568
Other creditors118,0508,990
Total1,633,3081,554,558
Bank borrowings Bounce back loan is denominated in £ with a nominal interest rate of 2.50%, and the final instalment is due in June 2026. The carrying amount at year end is £30,747 (2022 - £40,494). Other borrowings AMC loans with a carrying amount of £1,514,852 (2022 - £1,534,421) are denominated in £ with a nominal interest rate of market rate. The loans are secured on land at Tumby Woodside, Whitehouse Farm and land at Hurn Bridge Farm and are at a variable rate of interest.
12.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts118,0508,990
Hire purchase contracts with a carrying amount of £162,440 (2022 - £17,980) are denominated in £ with a nominal interest rate of market rate. The liabilities are secured on the related assets.