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REGISTERED NUMBER: 00613512 (England and Wales)















Unaudited Financial Statements for the Year Ended 25th March 2024

for

J. J. Steeples and Sons Limited

J. J. Steeples and Sons Limited (Registered number: 00613512)






Contents of the Financial Statements
for the Year Ended 25th March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J. J. Steeples and Sons Limited

Company Information
for the Year Ended 25th March 2024







DIRECTORS: Mr J S Steeples
Mrs H L Steeples





SECRETARY: Mrs H L Steeples





REGISTERED OFFICE: 17 Farrington Way
Eastwood
Nottinghamshire
NG16 3BF





REGISTERED NUMBER: 00613512 (England and Wales)

J. J. Steeples and Sons Limited (Registered number: 00613512)

Balance Sheet
25th March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 383,404 325,989

CURRENT ASSETS
Stocks 2,906 1,803
Debtors 5 18,810 16,819
Cash at bank 70,222 92,668
91,938 111,290
CREDITORS
Amounts falling due within one year 6 55,614 50,093
NET CURRENT ASSETS 36,324 61,197
TOTAL ASSETS LESS CURRENT
LIABILITIES

419,728

387,186

CREDITORS
Amounts falling due after more than one
year

7

(105,121

)

(109,092

)

PROVISIONS FOR LIABILITIES 8 (57,128 ) (45,791 )
NET ASSETS 257,479 232,303

CAPITAL AND RESERVES
Called up share capital 9 13 13
Retained earnings 257,466 232,290
SHAREHOLDERS' FUNDS 257,479 232,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25th March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 25th March 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.

J. J. Steeples and Sons Limited (Registered number: 00613512)

Balance Sheet - continued
25th March 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 22nd July 2024 and were signed on its behalf by:





Mr J S Steeples - Director


J. J. Steeples and Sons Limited (Registered number: 00613512)

Notes to the Financial Statements
for the Year Ended 25th March 2024

1. STATUTORY INFORMATION

J. J. Steeples 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.

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.
Farm Buildings - 2% on cost
Farm equipment - 15% on reducing balance
Computer equipment - 33% on cost

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

J. J. Steeples and Sons Limited (Registered number: 00613512)

Notes to the Financial Statements - continued
for the Year Ended 25th March 2024

4. TANGIBLE FIXED ASSETS
Farm Farm Computer
Buildings equipment equipment Totals
£    £    £    £   
COST
At 26th March 2023 134,306 507,044 2,621 643,971
Additions - 203,390 1,042 204,432
Disposals - (167,690 ) (483 ) (168,173 )
At 25th March 2024 134,306 542,744 3,180 680,230
DEPRECIATION
At 26th March 2023 49,321 266,212 2,449 317,982
Charge for year 2,255 52,891 260 55,406
Eliminated on disposal - (76,079 ) (483 ) (76,562 )
At 25th March 2024 51,576 243,024 2,226 296,826
NET BOOK VALUE
At 25th March 2024 82,730 299,720 954 383,404
At 25th March 2023 84,985 240,832 172 325,989

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,857 10,483
Other debtors 6,953 6,336
18,810 16,819

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 25,596 19,087
Trade creditors 3,041 404
Taxation and social security 4,677 8,463
Other creditors 12,300 12,139
55,614 50,093

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,667 26,667
Hire purchase contracts 71,006 64,351
Other creditors 17,448 18,074
105,121 109,092

J. J. Steeples and Sons Limited (Registered number: 00613512)

Notes to the Financial Statements - continued
for the Year Ended 25th March 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 57,128 45,791

Deferred
tax
£   
Balance at 26th March 2023 45,791
Provided during year 11,337
Balance at 25th March 2024 57,128

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10
1 Non-voting 'B' £1 1 1
1 Non-voting 'C' £1 1 1
1 Non-voting 'D' shares £1 1 1
13 13