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REGISTERED NUMBER: 00612993 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2023

FOR

HERBERT & SON (FARMERS) LIMITED

HERBERT & SON (FARMERS) LIMITED (REGISTERED NUMBER: 00612993)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HERBERT & SON (FARMERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 SEPTEMBER 2023







DIRECTORS: R J Herbert
N J Herbert





SECRETARY: R J Herbert





REGISTERED OFFICE: 27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 00612993 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

HERBERT & SON (FARMERS) LIMITED (REGISTERED NUMBER: 00612993)

BALANCE SHEET
29 SEPTEMBER 2023

29.9.23 29.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 42,271 56,780
42,271 56,780

CURRENT ASSETS
Stocks 101,277 102,304
Debtors 6 42,503 32,011
Cash at bank 120,458 78,668
264,238 212,983
CREDITORS
Amounts falling due within one year 7 112,136 80,862
NET CURRENT ASSETS 152,102 132,121
TOTAL ASSETS LESS CURRENT
LIABILITIES

194,373

188,901

PROVISIONS FOR LIABILITIES 90 2,350
NET ASSETS 194,283 186,551

CAPITAL AND RESERVES
Called up share capital 1,834 1,834
Capital redemption reserve 3,666 3,666
Retained earnings 188,783 181,051
SHAREHOLDERS' FUNDS 194,283 186,551

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 September 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.

HERBERT & SON (FARMERS) LIMITED (REGISTERED NUMBER: 00612993)

BALANCE SHEET - continued
29 SEPTEMBER 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 10 April 2024 and were signed on its behalf by:





R J Herbert - Director


HERBERT & SON (FARMERS) LIMITED (REGISTERED NUMBER: 00612993)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2023

1. STATUTORY INFORMATION

Herbert & Son (Farmers) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets
The sugar beet quota is amortised through the profit and loss account in equal annual instalments over a period of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 12.5% on reducing balance
Fixtures and fittings - 12.5% on reducing balance
Motor vehicles - 25% on reducing balance

Fixed assets are recorded at historic cost less accumulated depreciation and any provisions for impairment.

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.


HERBERT & SON (FARMERS) LIMITED (REGISTERED NUMBER: 00612993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 SEPTEMBER 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 30 September 2022
and 29 September 2023 5,000
AMORTISATION
At 30 September 2022
and 29 September 2023 5,000
NET BOOK VALUE
At 29 September 2023 -
At 29 September 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 30 September 2022 67,793 499 50,989 119,281
Disposals (15,260 ) - - (15,260 )
At 29 September 2023 52,533 499 50,989 104,021
DEPRECIATION
At 30 September 2022 55,647 480 6,374 62,501
Charge for year 1,255 2 11,154 12,411
Eliminated on disposal (13,162 ) - - (13,162 )
At 29 September 2023 43,740 482 17,528 61,750
NET BOOK VALUE
At 29 September 2023 8,793 17 33,461 42,271
At 29 September 2022 12,146 19 44,615 56,780

HERBERT & SON (FARMERS) LIMITED (REGISTERED NUMBER: 00612993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 SEPTEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.9.23 29.9.22
£    £   
Trade debtors 32,000 7,776
Corporation tax repayable 8,615 8,242
VAT 1,106 -
Prepayments and accrued income 782 15,993
42,503 32,011

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.9.23 29.9.22
£    £   
Trade creditors - 2,733
Corporation tax payable 71 -
VAT - 891
Directors' current accounts 95,725 50,548
Accruals and deferred income 16,340 26,690
112,136 80,862