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REGISTERED NUMBER: 11067186 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

J & S BROADWITH LIMITED

J & S BROADWITH LIMITED (REGISTERED NUMBER: 11067186)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J & S BROADWITH LIMITED

COMPANY INFORMATION
for the year ended 30 November 2023







DIRECTORS: J I Broadwith
Mrs S J Broadwith





SECRETARY:





REGISTERED OFFICE: Red House Farm
Kirklington
Bedale
North Yorkshire
DL8 2LZ





REGISTERED NUMBER: 11067186 (England and Wales)





ACCOUNTANTS: Smailes Goldie Watson Limited
Chartered Accountants
1 Church Street
Kirkbymoorside
YO62 6AZ

J & S BROADWITH LIMITED (REGISTERED NUMBER: 11067186)

STATEMENT OF FINANCIAL POSITION
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 527,766 748,952

CURRENT ASSETS
Stocks 1,153,128 766,819
Debtors 5 241,926 100,062
1,395,054 866,881
CREDITORS
Amounts falling due within one year 6 1,245,447 887,667
NET CURRENT ASSETS/(LIABILITIES) 149,607 (20,786 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

677,373

728,166

CREDITORS
Amounts falling due after more than one year 7 (186,601 ) (520,823 )

PROVISIONS FOR LIABILITIES (117,566 ) (47,004 )
NET ASSETS 373,206 160,339

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 373,106 160,239
373,206 160,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

J & S BROADWITH LIMITED (REGISTERED NUMBER: 11067186)

STATEMENT OF FINANCIAL POSITION - continued
30 November 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 July 2024 and were signed on its behalf by:




J I Broadwith - Director



Mrs S J Broadwith - Director


J & S BROADWITH LIMITED (REGISTERED NUMBER: 11067186)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2023


1. STATUTORY INFORMATION

J & S Broadwith 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have considered the financial resources and commitments of the company and concluded that they have sufficient resources to meet liabilities as they fall due. The directors therefore consider the it appropriate to prepare the financial statements on the going concern basis.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 30 November 2023 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 December 2021.

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.
Freehold property - 4% on cost excluding land
Plant equipment & tractors - 15% on reducing balance and 10% on cost
Motor vehicles - 25% on reducing balance
Computer and office equipment - 20% on reducing balance

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

Biological assets, agricultural produce and other stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.


J & S BROADWITH LIMITED (REGISTERED NUMBER: 11067186)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern
The company has a net asset position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors have adopted the going concern basis of accounting in preparing the annual financial statements.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans from related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

J & S BROADWITH LIMITED (REGISTERED NUMBER: 11067186)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Plant
Freehold to equipment
property property & tractors
£    £    £   
COST
At 1 December 2022 492,458 7,748 420,530
Additions 47,871 - 269,069
Disposals (492,458 ) - (186 )
At 30 November 2023 47,871 7,748 689,413
DEPRECIATION
At 1 December 2022 - 930 174,789
Charge for year 960 310 48,709
Eliminated on disposal - - (102 )
At 30 November 2023 960 1,240 223,396
NET BOOK VALUE
At 30 November 2023 46,911 6,508 466,017
At 30 November 2022 492,458 6,818 245,741

J & S BROADWITH LIMITED (REGISTERED NUMBER: 11067186)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


4. TANGIBLE FIXED ASSETS - continued

Computer
and
Motor office
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 3,350 2,024 926,110
Additions 4,750 883 322,573
Disposals (750 ) - (493,394 )
At 30 November 2023 7,350 2,907 755,289
DEPRECIATION
At 1 December 2022 567 872 177,158
Charge for year 794 261 51,034
Eliminated on disposal (567 ) - (669 )
At 30 November 2023 794 1,133 227,523
NET BOOK VALUE
At 30 November 2023 6,556 1,774 527,766
At 30 November 2022 2,783 1,152 748,952

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant
equipment
& tractors
£   
COST
At 1 December 2022 118,000
Additions 208,153
Transfer to ownership (118,000 )
At 30 November 2023 208,153
DEPRECIATION
At 1 December 2022 36,361
Charge for year 9,177
Transfer to ownership (36,361 )
At 30 November 2023 9,177
NET BOOK VALUE
At 30 November 2023 198,976
At 30 November 2022 81,639

J & S BROADWITH LIMITED (REGISTERED NUMBER: 11067186)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 217,225 78,716
Other debtors 24,701 21,346
241,926 100,062

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 191,560 202,099
Hire purchase contracts 28,502 26,556
Trade creditors 121,645 117,357
Taxation and social security 32,899 23,467
Other creditors 870,841 518,188
1,245,447 887,667

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 31,482 520,823
Hire purchase contracts 155,119 -
186,601 520,823

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 186,004 176,831
Bank loans 37,038 546,091
RWW Farming Limited 24,410 -
RWW & GHW Loan 50,000 -
Hire purchase contracts 183,621 26,556
481,073 749,478

The bank holds fixed and floating charges which cover all the property and undertakings of the company.

Assets purchased on HP agreements are secured on the individual asset.