IRIS Accounts Production v24.2.0.383 02473088 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh024730882023-04-30024730882024-04-30024730882023-05-012024-04-30024730882022-04-30024730882022-05-012023-04-30024730882023-04-3002473088ns15:EnglandWales2023-05-012024-04-3002473088ns14:PoundSterling2023-05-012024-04-3002473088ns10:Director12023-05-012024-04-3002473088ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3002473088ns10:SmallEntities2023-05-012024-04-3002473088ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3002473088ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3002473088ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3002473088ns10:FullAccounts2023-05-012024-04-300247308812023-05-012024-04-3002473088ns10:OrdinaryShareClass12023-05-012024-04-3002473088ns10:Director22023-05-012024-04-3002473088ns10:CompanySecretary12023-05-012024-04-3002473088ns10:RegisteredOffice2023-05-012024-04-3002473088ns5:CurrentFinancialInstruments2024-04-3002473088ns5:CurrentFinancialInstruments2023-04-3002473088ns5:Non-currentFinancialInstruments2024-04-3002473088ns5:Non-currentFinancialInstruments2023-04-3002473088ns5:ShareCapital2024-04-3002473088ns5:ShareCapital2023-04-3002473088ns5:RetainedEarningsAccumulatedLosses2024-04-3002473088ns5:RetainedEarningsAccumulatedLosses2023-04-3002473088ns5:PatentsTrademarksLicencesConcessionsSimilar2023-05-012024-04-3002473088ns5:LandBuildings2023-05-012024-04-3002473088ns5:PlantMachinery2023-05-012024-04-3002473088ns5:IntangibleAssetsOtherThanGoodwill2023-04-3002473088ns5:IntangibleAssetsOtherThanGoodwill2024-04-3002473088ns5:IntangibleAssetsOtherThanGoodwill2023-04-3002473088ns5:LandBuildings2023-04-3002473088ns5:PlantMachinery2023-04-3002473088ns5:LandBuildings2024-04-3002473088ns5:PlantMachinery2024-04-3002473088ns5:LandBuildings2023-04-3002473088ns5:PlantMachinery2023-04-3002473088ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3002473088ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3002473088ns5:Secured2024-04-3002473088ns5:Secured2023-04-3002473088ns10:OrdinaryShareClass12024-04-30
REGISTERED NUMBER: 02473088 (England and Wales)















F.S. PEAKE & SON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






F.S. PEAKE & SON LIMITED (REGISTERED NUMBER: 02473088)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


F.S. PEAKE & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: J F Peake
W J S Peake





SECRETARY: Mrs C H D Peake





REGISTERED OFFICE: Ricketwood Farm
Epperstone
Nottinghamshire
NG14 6AR





REGISTERED NUMBER: 02473088 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

F.S. PEAKE & SON LIMITED (REGISTERED NUMBER: 02473088)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 1,021,531 1,067,943
Investment property 6 750,947 757,637
1,772,478 1,825,580

CURRENT ASSETS
Inventories 83,441 106,844
Debtors 7 138,757 216,278
222,198 323,122
CREDITORS
Amounts falling due within one year 8 430,271 520,318
NET CURRENT LIABILITIES (208,073 ) (197,196 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,564,405 1,628,384

CREDITORS
Amounts falling due after more than one year 9 (1,228,728 ) (1,273,935 )

PROVISIONS FOR LIABILITIES (86,368 ) (94,057 )
NET ASSETS 249,309 260,392

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 249,209 260,292
SHAREHOLDERS' FUNDS 249,309 260,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

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

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 22 August 2024 and were signed on its behalf by:



J F Peake - Director


F.S. PEAKE & SON LIMITED (REGISTERED NUMBER: 02473088)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

F.S. Peake & Son 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.

Revenue
Revenue represents net invoiced sales of produce and livestock, excluding value added tax. Sales of produce are recognised upon despatch. Revenue from livestock is recognised on the day of sale.

Intangible fixed assets
Intangible assets consist of entitlements to the basic payment allowance. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Property, plant and equipment
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 - 4% on cost and not provided
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 5% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Stocks are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

F.S. PEAKE & SON LIMITED (REGISTERED NUMBER: 02473088)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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 statement of financial position 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.

Basic payment
The basic payment is recognised in the financial statements in accordance with H. M. Revenue and Customs guidance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 16,077
AMORTISATION
At 1 May 2023
and 30 April 2024 16,077
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

F.S. PEAKE & SON LIMITED (REGISTERED NUMBER: 02473088)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 1,255,928 594,792 1,850,720
Additions - 36,195 36,195
Disposals - (41,032 ) (41,032 )
At 30 April 2024 1,255,928 589,955 1,845,883
DEPRECIATION
At 1 May 2023 422,372 360,405 782,777
Charge for year 32,947 34,218 67,165
Eliminated on disposal - (25,590 ) (25,590 )
At 30 April 2024 455,319 369,033 824,352
NET BOOK VALUE
At 30 April 2024 800,609 220,922 1,021,531
At 30 April 2023 833,556 234,387 1,067,943


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 757,637
Additions 1,451
Disposals (8,141 )
At 30 April 2024 750,947
NET BOOK VALUE
At 30 April 2024 750,947
At 30 April 2023 757,637

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 131,001 210,243
Other debtors 7,756 6,035
138,757 216,278

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 166,787 176,431
Hire purchase contracts 38,083 32,758
Trade creditors 84,522 183,492
Taxation and social security 12,531 8,903
Other creditors 128,348 118,734
430,271 520,318

F.S. PEAKE & SON LIMITED (REGISTERED NUMBER: 02473088)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,227,239 1,247,212
Hire purchase contracts 1,489 26,723
1,228,728 1,273,935

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5 years 1,089,185 1,068,230

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 116,521 113,670
Bank loans 1,277,505 1,309,973
Hire purchase contracts 39,572 59,481
1,433,598 1,483,124

The debts are secured over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100