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REGISTERED NUMBER: 00768397 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

JOHN R.FORD & SONS LIMITED

JOHN R.FORD & SONS LIMITED (REGISTERED NUMBER: 00768397)

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 & SONS 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: 00768397 (England and Wales)





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

JOHN R.FORD & SONS LIMITED (REGISTERED NUMBER: 00768397)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,400,000 1,400,000
Investments 5 500,100 500,100
1,900,100 1,900,100

CURRENT ASSETS
Debtors 6 1,210,000 1,210,000
Cash at bank 4,025 4,025
1,214,025 1,214,025
CREDITORS
Amounts falling due within one year 7 329,805 252,986
NET CURRENT ASSETS 884,220 961,039
TOTAL ASSETS LESS CURRENT LIABILITIES 2,784,320 2,861,139

CAPITAL AND RESERVES
Called up share capital 8 25,000 25,000
Revaluation reserve 493,843 493,843
Retained earnings 2,265,477 2,342,296
SHAREHOLDERS' FUNDS 2,784,320 2,861,139

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 & SONS LIMITED (REGISTERED NUMBER: 00768397)

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 27 March 2024 and were signed on its behalf by:




R W Ford - Director



S J Ford - Director


JOHN R.FORD & SONS LIMITED (REGISTERED NUMBER: 00768397)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2023


1. STATUTORY INFORMATION

John R.Ford & 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 as modified by the revaluation of certain assets.

There were no material departures from that standard.

Preparation of consolidated financial statements
The financial statements contain information about John R.Ford & Sons Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The directors do not consider that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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
All fixed assets are initially recorded at cost.

In preparation of the introduction of Financial Reporting Standard 102, a revaluation of freehold property was undertaken in 2014. the company has chosen to elect this valuation of freehold property as deemed cost on transition to FRS 102 and accordingly no further movement will be adjusted through the revaluation reserve.

Depreciation is not provided on freehold buildings which is not in accordance with the requirements of FRS 102. The departure is on the grounds that the depreciation charge and related accumulated depreciation balance are not material, owing to a long estimated useful life and high residual value.

The directors perform annual impairment reviews to ensure that the carrying values are not lower than the recoverable amounts.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

JOHN R.FORD & SONS LIMITED (REGISTERED NUMBER: 00768397)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 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.

Investments
Fixed asset investments are included at historical cost.

Operating lease income
Rentals received under operating leases are credited to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 November 2022
and 31 October 2023 1,400,000
NET BOOK VALUE
At 31 October 2023 1,400,000
At 31 October 2022 1,400,000

Included in cost or valuation of land and buildings is freehold land of £ 700,000 (2022 - £ 700,000 ) which is not depreciated.

Land and buildings are used by the subsidiary under operating lease arrangements.

The directors do not consider there to be any material change in valuation between 1 April 2014 (date of last valuation) up to the date of transition to FRS 102.

A deferred tax liability in relation to the revaluation has not been provided on transition to FRS 102 on the basis that it is not material to the financial statements.

JOHN R.FORD & SONS LIMITED (REGISTERED NUMBER: 00768397)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 October 2023 is represented by:

Freehold
property
£   
Valuation in 1994 217,887
Valuation in 2014 246,017
Cost 936,096
1,400,000

Freehold land and buildings were valued on an open market basis on 1 April 2014 by Stimpsons Eves Chartered Surveyors .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 500,100
NET BOOK VALUE
At 31 October 2023 500,100
At 31 October 2022 500,100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

John R. Ford and Sons (Shefford) Limited
Registered office: 11 Ampthill Road, Shefford, Bedfordshire, SG17 5BE.
Nature of business: Garage proprietors.
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,919,632 1,633,528
Profit for the year 286,104 42,519

John R. Ford and Sons (Shefford) Limited is a company registered in England and Wales.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 1,210,000 1,210,000

JOHN R.FORD & SONS LIMITED (REGISTERED NUMBER: 00768397)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 303,797 229,767
Corporation tax 11,854 11,449
Social security and other taxes 704 730
Accrued expenses 13,450 11,040
329,805 252,986

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25,000 Ordinary £1 25,000 25,000

9. RELATED PARTY DISCLOSURES

During the year there were the following arms length transactions with the subsidiary company, John R. Ford and Sons (Shefford) Limited as follows:

Management charges to the subsidiary £27,786 (2022 :£27,808)
Rent charged to the subsidiary £98,500 (2022: £98,500)

Management charges from the subsidiary £45,000 (2022: £45,000).

John R.Ford & Sons Limited operates a loan account with its subsidiary. The balance owing to the subsidiary as at 31 October 2023 was £303,797 (2022: £229,767).

There is an inter-company guarantee in favour of Nat West Bank Plc between John R.Ford & Sons Limited and the subsidiary John R. Ford and Sons (Shefford) Ltd. The guarantee is supported by charges against freehold property.

The majority shareholding is held in trust of which R W Ford and S J Ford are both trustees and beneficiaries.
Amounts owed by associates £1,210,000 (2022: £1,210,000) is due from S & R Ford Properties Ltd, a company controlled by R W Ford and S J Ford.

10. ULTIMATE CONTROLLING PARTY

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