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REGISTERED NUMBER: 00650252 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2023

for

G.B. Foot Limited

G.B. Foot Limited (Registered number: 00650252)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.B. Foot Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M I Dalgarno
Mrs G E Filson
Mrs C D Walton
R M Foot
R B Cessford





SECRETARY: Mrs G E Filson





REGISTERED OFFICE: The Farm Office
Manor Farm
Monk Sherborne
Tadley
Hampshire
RG26 5HW





REGISTERED NUMBER: 00650252 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

G.B. Foot Limited (Registered number: 00650252)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,964,253 1,918,511
Investments 5 167,678 151,277
2,131,931 2,069,788

CURRENT ASSETS
Stocks 812,083 913,795
Debtors 6 484,752 451,744
Cash at bank and in hand 403,238 305,947
1,700,073 1,671,486
CREDITORS
Amounts falling due within one year 7 455,911 312,504
NET CURRENT ASSETS 1,244,162 1,358,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,376,093

3,428,770

CREDITORS
Amounts falling due after more than one
year

8

-

(147,791

)

PROVISIONS FOR LIABILITIES 11 (130,846 ) (113,575 )
NET ASSETS 3,245,247 3,167,404

CAPITAL AND RESERVES
Called up share capital 12 42,300 42,300
Share premium 29,097 29,097
Fair value reserve 13 87,007 74,707
Retained earnings 3,086,843 3,021,300
SHAREHOLDERS' FUNDS 3,245,247 3,167,404

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

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

G.B. Foot Limited (Registered number: 00650252)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2024 and were signed on its behalf by:





M I Dalgarno - Director


G.B. Foot Limited (Registered number: 00650252)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

G.B. Foot 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.

Turnover
Turnover represents amounts receivable for goods and services, net of VAT and trade discounts. Crop sales have been adjusted for opening and closing stocks.

Basic Payment Scheme has been recognised as appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost
Plant and machinery - 25% on reducing balance

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

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Investments
Investments in shares are included at fair value. Fair value gains or losses are recognised in the profit or loss account.

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.


G.B. Foot Limited (Registered number: 00650252)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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, adjusted for indexation where appropriate.

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
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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 January 2023 2,107,730 2,014,186 4,121,916
Additions - 157,960 157,960
Disposals - (112,000 ) (112,000 )
At 31 December 2023 2,107,730 2,060,146 4,167,876
DEPRECIATION
At 1 January 2023 529,942 1,673,463 2,203,405
Charge for year 7,924 99,837 107,761
Eliminated on disposal - (107,543 ) (107,543 )
At 31 December 2023 537,866 1,665,757 2,203,623
NET BOOK VALUE
At 31 December 2023 1,569,864 394,389 1,964,253
At 31 December 2022 1,577,788 340,723 1,918,511

G.B. Foot Limited (Registered number: 00650252)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS - continued


5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 139,609 11,668 151,277
Revaluations 16,401 - 16,401
At 31 December 2023 156,010 11,668 167,678
NET BOOK VALUE
At 31 December 2023 156,010 11,668 167,678
At 31 December 2022 139,609 11,668 151,277

Cost or valuation at 31 December 2023 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2021 112,635 - 112,635
Valuation in 2022 (13,026 ) - (13,026 )
Valuation in 2023 16,401 - 16,401
Cost 40,000 11,668 51,668
156,010 11,668 167,678

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 357,077 179,165
Other debtors 127,675 272,579
484,752 451,744

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 16,000
Hire purchase contracts (see note 9) 16,000 49,122
Trade creditors 62,194 43,807
Taxation and social security 47,056 140,893
Other creditors 330,661 62,682
455,911 312,504

G.B. Foot Limited (Registered number: 00650252)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 131,791
Hire purchase contracts (see note 9) - 16,000
- 147,791

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 16,000 49,122
Between one and five years - 16,000
16,000 65,122

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 57,000 100,938
Between one and five years - 57,000
57,000 157,938

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans - 147,791
Hire purchase contracts 16,000 65,122
16,000 212,913

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 130,846 113,575

G.B. Foot Limited (Registered number: 00650252)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 113,575
Accelerated capital allowances 13,170
Revalue investments 4,101
Balance at 31 December 2023 130,846

12. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
21,300 Ordinary £1 21,300 21,300
21,000 Preference £1 21,000 21,000
42,300 42,300

13. RESERVES
Fair
value
reserve
£   
At 1 January 2023 74,707
Revalue investments 16,401
Deferred tax movement (4,101 )

At 31 December 2023 87,007