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REGISTERED NUMBER: 01261146 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

GLADWIN BROS (FARMS) LIMITED

GLADWIN BROS (FARMS) LIMITED (REGISTERED NUMBER: 01261146)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLADWIN BROS (FARMS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: P A Gladwin
Mrs J Gladwin
A Gladwin





SECRETARY: P A Gladwin





REGISTERED OFFICE: 38 Horkstow Road
Barton On Humber
North Lincolnshire
DN18 5DZ





REGISTERED NUMBER: 01261146 (England and Wales)





ACCOUNTANTS: Jackson Robson Licence Limited
33-35 Exchange Street
Driffield
East Yorkshire
YO25 6LL

GLADWIN BROS (FARMS) LIMITED (REGISTERED NUMBER: 01261146)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,244 4,244
Tangible assets 5 3,955,258 3,903,804
Investments 6 4 4
3,959,506 3,908,052

CURRENT ASSETS
Stocks 485,996 733,383
Debtors 7 51,752 100,832
Cash at bank and in hand 1,111,945 928,046
1,649,693 1,762,261
CREDITORS
Amounts falling due within one year 8 129,470 250,923
NET CURRENT ASSETS 1,520,223 1,511,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,479,729

5,419,390

CREDITORS
Amounts falling due after more than one
year

9

(30,750

)

(30,600

)

PROVISIONS FOR LIABILITIES (123,753 ) (91,409 )
NET ASSETS 5,325,226 5,297,381

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 10 5,324,726 5,296,881
SHAREHOLDERS' FUNDS 5,325,226 5,297,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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

GLADWIN BROS (FARMS) LIMITED (REGISTERED NUMBER: 01261146)

BALANCE SHEET - continued
31 JANUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2024 and were signed on its behalf by:





Mrs J Gladwin - Director


GLADWIN BROS (FARMS) LIMITED (REGISTERED NUMBER: 01261146)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Gladwin Bros (Farms) 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - no provision
Plant and machinery etc - 25% on reducing balance and 10% on cost

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.

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.

GLADWIN BROS (FARMS) LIMITED (REGISTERED NUMBER: 01261146)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to 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 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 AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 4,244
NET BOOK VALUE
At 31 January 2024 4,244
At 31 January 2023 4,244

GLADWIN BROS (FARMS) LIMITED (REGISTERED NUMBER: 01261146)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 February 2023 3,370,366 183,824 818,141
Additions - 32,888 64,846
Disposals - - (51,667 )
At 31 January 2024 3,370,366 216,712 831,320
DEPRECIATION
At 1 February 2023 - 131,485 643,650
Charge for year - 15,110 54,580
Eliminated on disposal - - (30,678 )
At 31 January 2024 - 146,595 667,552
NET BOOK VALUE
At 31 January 2024 3,370,366 70,117 163,768
At 31 January 2023 3,370,366 52,339 174,491

Motor Computer
Tractors vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 799,300 18,851 7,752 5,198,234
Additions 166,875 34,206 - 298,815
Disposals (130,000 ) (16,100 ) - (197,767 )
At 31 January 2024 836,175 36,957 7,752 5,299,282
DEPRECIATION
At 1 February 2023 503,632 10,021 5,642 1,294,430
Charge for year 107,924 8,551 528 186,693
Eliminated on disposal (99,150 ) (7,271 ) - (137,099 )
At 31 January 2024 512,406 11,301 6,170 1,344,024
NET BOOK VALUE
At 31 January 2024 323,769 25,656 1,582 3,955,258
At 31 January 2023 295,668 8,830 2,110 3,903,804

GLADWIN BROS (FARMS) LIMITED (REGISTERED NUMBER: 01261146)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
£   
COST
At 1 February 2023
and 31 January 2024 265,925
DEPRECIATION
At 1 February 2023
and 31 January 2024 44,794
NET BOOK VALUE
At 31 January 2024 221,131
At 31 January 2023 221,131

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 4
NET BOOK VALUE
At 31 January 2024 4
At 31 January 2023 4

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,018 71,611
Other debtors 21,734 29,221
51,752 100,832

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 27,925 62,517
Taxation and social security 35,543 79,516
Other creditors 66,002 108,890
129,470 250,923

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 30,750 30,600

GLADWIN BROS (FARMS) LIMITED (REGISTERED NUMBER: 01261146)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. RESERVES
Retained
earnings
£   

At 1 February 2023 5,296,881
Profit for the year 113,559
Dividends (85,714 )
At 31 January 2024 5,324,726

11. ULTIMATE CONTROLLING PARTY

Mr P A Gladwin has control of the company by virtue of his shareholding.