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REGISTERED NUMBER: 00602019 (England and Wales)













E.W.Kisby And Sons Limited

Unaudited Financial Statements

for the Year Ended 5 April 2024






E.W.Kisby And Sons Limited (Registered number: 00602019)

Contents of the Financial Statements
for the Year Ended 5 April 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


E.W.Kisby And Sons Limited

Company Information
for the Year Ended 5 April 2024







DIRECTORS: JA Kisby
RE Kisby
BM Kisby
CD Kisby



SECRETARY: JA Kisby



REGISTERED OFFICE: Willow Tree Farm
Ten Mile Bank
Downham Market
Norfolk
PE38 0EU



REGISTERED NUMBER: 00602019 (England and Wales)



ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF



BANKERS: Barclays Bank
West Anglia Agricultural Centre
Peterborough
Cambridgeshire
PE2 8YW

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
E.W.Kisby And Sons Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E.W.Kisby And Sons Limited for the year ended 5 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of E.W.Kisby And Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of E.W.Kisby And Sons Limited and state those matters that we have agreed to state to the Board of Directors of E.W.Kisby And Sons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E.W.Kisby And Sons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that E.W.Kisby And Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of E.W.Kisby And Sons Limited. You consider that E.W.Kisby And Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of E.W.Kisby And Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


30 July 2024

E.W.Kisby And Sons Limited (Registered number: 00602019)

Balance Sheet
5 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 863,768 904,717
Investments 5 16 16
863,784 904,733

CURRENT ASSETS
Stocks 6 390,309 433,291
Debtors 7 94,205 94,568
Cash at bank 1,214,977 122,217
1,699,491 650,076
CREDITORS
Amounts falling due within one year 8 491,401 391,022
NET CURRENT ASSETS 1,208,090 259,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,071,874

1,163,787

CREDITORS
Amounts falling due after more than one
year

9

(382,833

)

(410,546

)

PROVISIONS FOR LIABILITIES 11 (68,953 ) (46,439 )
NET ASSETS 1,620,088 706,802

CAPITAL AND RESERVES
Allotted, issued and fully paid share capital 1,668 1,668
Capital redemption reserve 3,332 3,332
Retained earnings 1,615,088 701,802
1,620,088 706,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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.

E.W.Kisby And Sons Limited (Registered number: 00602019)

Balance Sheet - continued
5 April 2024


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 30 July 2024 and were signed on its behalf by:





CD Kisby - Director


E.W.Kisby And Sons Limited (Registered number: 00602019)

Notes to the Financial Statements
for the Year Ended 5 April 2024


1. STATUTORY INFORMATION

E.W.Kisby And Sons 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.

Going concern
The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare accounts on the going concern basis.

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.
Land and buildings - not provided
Improvements to property - at variable rates on reducing balance and in accordance with the property
Plant and machinery - 15% on reducing balance and 10% on reducing balance
Tractors and harvesters - 25% on reducing balance and 12.5% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

The company has the following biological assets within stock which are valued as disclosed:

Growing crop - valued at the cost of inputs and cultivations up to the period end

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.


E.W.Kisby And Sons Limited (Registered number: 00602019)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful lives.

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

Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

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

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Land and to Plant and
buildings property machinery
£    £    £   
COST
At 6 April 2023 619,348 447,321 1,052,177
Additions - - 637
Disposals (122,360 ) - -
At 5 April 2024 496,988 447,321 1,052,814
DEPRECIATION
At 6 April 2023 - 360,349 881,500
Charge for year - 7,881 25,448
Eliminated on disposal - - -
At 5 April 2024 - 368,230 906,948
NET BOOK VALUE
At 5 April 2024 496,988 79,091 145,866
At 5 April 2023 619,348 86,972 170,677

E.W.Kisby And Sons Limited (Registered number: 00602019)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


4. TANGIBLE FIXED ASSETS - continued

Tractors
and Motor
harvesters vehicles Totals
£    £    £   
COST
At 6 April 2023 217,927 63,055 2,399,828
Additions 105,000 37,608 143,245
Disposals (61,580 ) (17,079 ) (201,019 )
At 5 April 2024 261,347 83,584 2,342,054
DEPRECIATION
At 6 April 2023 199,672 53,590 1,495,111
Charge for year 6,419 10,154 49,902
Eliminated on disposal (52,875 ) (13,852 ) (66,727 )
At 5 April 2024 153,216 49,892 1,478,286
NET BOOK VALUE
At 5 April 2024 108,131 33,692 863,768
At 5 April 2023 18,255 9,465 904,717

Included in cost of land and buildings is freehold land of £496,988 (2023 - £619,348) which is not depreciated.


5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
United Oilseed Producers Ltd 15 15
Anglia Farmers Ltd 1 1
16 16

6. STOCKS
2024 2023
£    £   
Raw materials valuation 146,774 210,672
Work-in-progress 243,535 222,619
390,309 433,291

E.W.Kisby And Sons Limited (Registered number: 00602019)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,540 25,559
Prepayments and accrued income 47,475 50,696
Other debtors - 685
VAT 32,190 17,628
94,205 94,568

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
AMC loan 8,600 8,100
Trade creditors 215,505 157,226
Corporation tax payable 72,589 84,377
Directors' current accounts 139,351 127,523
Accruals and deferred income 55,356 13,796
491,401 391,022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
AMC loan due 1 to 2 years 8,700 8,200
AMC loan due 2 to 5 years 26,700 74,899
AMC loan due after 5 years 164,105 175,196
AMC interest only mortgage 183,328 152,251
382,833 410,546

Amounts falling due in more than five years:

Repayable otherwise than by instalments
AMC interest only mortgage 183,328 152,251

Repayable by instalments
AMC loan due after 5 years 164,105 175,196

E.W.Kisby And Sons Limited (Registered number: 00602019)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
AMC loan 208,105 266,395
AMC interest only mortgage 183,328 152,251
391,433 418,646

The Barclays overdraft is secured by charges over the company's land at Downham Market, Norfolk.

The borrowings from the Agricultural Mortgage Corporation are secured by charges over the company's land and property at Downham Market, Norfolk. The loan is split into five parts; four are interest only, with two repayable in August 2026 and two repayable in December 2029; one is repayable in increasing monthly instalments over the 25 year period of the loan to December 2038.

Obligations under hire purchase contracts are secured by the related assets.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - Accelerated
Capital Allowances 68,953 46,439
68,953 46,439

Deferred
tax
£   
Balance at 6 April 2023 46,439
Provided during year 22,514
Balance at 5 April 2024 68,953

12. FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £112,241 (2023: £94,998). The financial commitments are due over the next 12 months and relate to land and property rent.