IRIS Accounts Production v24.1.9.2 00915114 Board of Directors Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh009151142022-10-31009151142023-10-31009151142022-11-012023-10-31009151142021-10-31009151142021-11-012022-10-31009151142022-10-3100915114ns15:EnglandWales2022-11-012023-10-3100915114ns14:PoundSterling2022-11-012023-10-3100915114ns10:Director12022-11-012023-10-3100915114ns10:Director22022-11-012023-10-3100915114ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3100915114ns10:SmallEntities2022-11-012023-10-3100915114ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3100915114ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3100915114ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3100915114ns10:FullAccounts2022-11-012023-10-3100915114ns10:OrdinaryShareClass12022-11-012023-10-3100915114ns10:Director32022-11-012023-10-3100915114ns10:CompanySecretary12022-11-012023-10-3100915114ns10:RegisteredOffice2022-11-012023-10-3100915114ns5:CurrentFinancialInstruments2023-10-3100915114ns5:CurrentFinancialInstruments2022-10-3100915114ns5:ShareCapital2023-10-3100915114ns5:ShareCapital2022-10-3100915114ns5:RetainedEarningsAccumulatedLosses2023-10-3100915114ns5:RetainedEarningsAccumulatedLosses2022-10-3100915114ns5:LeaseholdImprovements2022-11-012023-10-3100915114ns5:PlantMachinery2022-11-012023-10-3100915114ns5:FurnitureFittings2022-11-012023-10-3100915114ns5:LeaseholdImprovements2022-10-3100915114ns5:PlantMachinery2022-10-3100915114ns5:FurnitureFittings2022-10-3100915114ns5:LeaseholdImprovements2023-10-3100915114ns5:PlantMachinery2023-10-3100915114ns5:FurnitureFittings2023-10-3100915114ns5:LeaseholdImprovements2022-10-3100915114ns5:PlantMachinery2022-10-3100915114ns5:FurnitureFittings2022-10-3100915114ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3100915114ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3100915114ns10:OrdinaryShareClass12023-10-3100915114ns10:Director222022-10-3100915114ns10:Director222021-10-3100915114ns10:Director222022-11-012023-10-3100915114ns10:Director222021-11-012022-10-3100915114ns10:Director222023-10-3100915114ns10:Director222022-10-31
REGISTERED NUMBER: 00915114 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

JOHN R. FORD AND SONS (SHEFFORD) LIMITED

JOHN R. FORD AND SONS (SHEFFORD) LIMITED (REGISTERED NUMBER: 00915114)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOHN R. FORD AND SONS (SHEFFORD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: R W Ford
S J Ford
Mrs B J Ford





SECRETARY: Mrs B J Ford





REGISTERED OFFICE: 11 Ampthill Road
Shefford
Bedfordshire
SG17 5BE





REGISTERED NUMBER: 00915114 (England and Wales)





ACCOUNTANTS: TC Group
Baird House
Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR

JOHN R. FORD AND SONS (SHEFFORD) LIMITED (REGISTERED NUMBER: 00915114)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 177,685 186,872

CURRENT ASSETS
Stocks 5 587,021 695,993
Debtors 6 829,179 415,286
Investments 7 411,827 493,229
Cash at bank and in hand 804,465 534,611
2,632,492 2,139,119
CREDITORS
Amounts falling due within one year 8 848,244 648,212
NET CURRENT ASSETS 1,784,248 1,490,907
TOTAL ASSETS LESS CURRENT LIABILITIES 1,961,933 1,677,779

PROVISIONS FOR LIABILITIES 42,301 44,251
NET ASSETS 1,919,632 1,633,528

CAPITAL AND RESERVES
Called up share capital 10 500,100 500,100
Retained earnings 1,419,532 1,133,428
SHAREHOLDERS' FUNDS 1,919,632 1,633,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

JOHN R. FORD AND SONS (SHEFFORD) LIMITED (REGISTERED NUMBER: 00915114)

BALANCE SHEET - continued
31 OCTOBER 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 Comprehensive Income 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:




R W Ford - Director



S J Ford - Director


JOHN R. FORD AND SONS (SHEFFORD) LIMITED (REGISTERED NUMBER: 00915114)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

John R. Ford and Sons (Shefford) 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.

There were no material departures from that standard.

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.
Improvements to property - 25% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, and other costs incurred in bringing stock to its present location and condition

New vehicles are supplied under consignment stock arrangements. The company's policy is not to recognise the vehicles as stock until transfer of title has crystallised, i.e. on the date of adoption, as it is considered that the majority of benefits and risks associated with that of stock do not pass to the company until that point.

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.

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.

JOHN R. FORD AND SONS (SHEFFORD) LIMITED (REGISTERED NUMBER: 00915114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

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 48 (2022 - 49 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 November 2022 98,140 529,745 229,054 856,939
Additions - 34,687 - 34,687
Disposals - (5,410 ) 1 (5,409 )
At 31 October 2023 98,140 559,022 229,055 886,217
DEPRECIATION
At 1 November 2022 92,869 399,738 177,460 670,067
Charge for year 555 36,133 7,189 43,877
Eliminated on disposal - (5,410 ) (2 ) (5,412 )
At 31 October 2023 93,424 430,461 184,647 708,532
NET BOOK VALUE
At 31 October 2023 4,716 128,561 44,408 177,685
At 31 October 2022 5,271 130,007 51,594 186,872

5. STOCKS
2023 2022
£    £   
Stocks 587,021 695,993

In the opinion of the directors, any difference between the book value and replacement cost of stocks would be immaterial.

As stated, new vehicle consignment stock is not included in the balance sheet until the vehicles have been adopted. The value of unadopted vehicles held does not fluctuate significantly from year to year and amounts to approximately £150,000.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 142,061 156,775
Amounts owed by group undertakings 303,797 229,767
Directors' current accounts 297,164 -
Tax 66,543 -
Prepayments 19,614 28,744
829,179 415,286

JOHN R. FORD AND SONS (SHEFFORD) LIMITED (REGISTERED NUMBER: 00915114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 411,827 493,229

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 287,631 246,308
Customer deposits 17,216 37,760
Corporation tax 150,799 24,561
Social security and other taxes 35,370 40,410
VAT 107,467 67,590
Directors' current accounts 24,248 26,809
Accrued expenses 225,513 204,774
848,244 648,212

9. SECURED DEBTS

Included in trade creditors is £43,565 (2022 £49,246) owed to Conoco Phillips Ltd which is secured against freehold property owned by the holding company John R.Ford & Sons Limited.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
500,100 Ordinary £1 500,100 500,100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
S J Ford
Balance outstanding at start of year - -
Amounts advanced 297,164 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 297,164 -

The director repaid £100,000 of the outstanding balance within 9 months of the year end.

JOHN R. FORD AND SONS (SHEFFORD) LIMITED (REGISTERED NUMBER: 00915114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


12. RELATED PARTY DISCLOSURES

During the year there were the following transactions with the holding company, John R.Ford & Sons Limited as follows:

Management charges from the holding company £27,786 (2022 £27,808)
Rent charged by the holding company £98,500 (2022 £98,500)

Management charges to the holding company £45,000 (2022 - £45,000)

The balance receivable from the holding company, John R.Ford & Sons Ltd, at the year end was £303,797 (2022 - £229,767).

13. ULTIMATE CONTROLLING PARTY

The majority shareholding of the parent company is held in trusts of which R W Ford and S J Ford are the trustees.