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Registration number: 10366624

C. G. Kendall Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

C. G. Kendall Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

C. G. Kendall Limited

(Registration number: 10366624)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,666,218

7,661,257

Investment property

5

299,000

299,000

Other financial assets

6

318,854

293,575

 

8,284,072

8,253,832

Current assets

 

Stocks

7

460,491

441,252

Debtors

8

152,268

202,525

Investments

9

3,950

3,950

Cash at bank and in hand

 

785,075

577,797

 

1,401,784

1,225,524

Creditors: Amounts falling due within one year

10

(301,836)

(260,608)

Net current assets

 

1,099,948

964,916

Total assets less current liabilities

 

9,384,020

9,218,748

Creditors: Amounts falling due after more than one year

10

(52,500)

(111,333)

Provisions for liabilities

(194,235)

(180,593)

Net assets

 

9,137,285

8,926,822

Capital and reserves

 

Called up share capital

1

1

Other reserves

3,656,178

3,782,749

Retained earnings

5,481,106

5,144,072

Shareholders' funds

 

9,137,285

8,926,822

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

 

C. G. Kendall Limited

(Registration number: 10366624)
Balance Sheet as at 31 December 2023

.........................................
W M Kendall
Director

.........................................
C G Kendall
Director

 

C. G. Kendall Limited

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

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Arras Farm
Sancton
York
YO43 4RN

These financial statements were authorised for issue by the Board on 17 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements have been prepared in sterling and amount shown have been rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Basic payment scheme is received in respect of calendar years. Receipt is contingent upon meeting certain eligibility criteria over a ten month period. Once the criteria have been met the income is recognised in the year to which it relates.

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

C. G. Kendall Limited

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Some tangible assets are stated in the statement of financial position at fair value and some assets are valued at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Buildings

2 % and 4% straight line

Plant and machinery

20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

The basis of valuation is as follows:
Raw materials and consumables are stated at the lower of cost or net realisable value.
Tenantright is calculated by a combination of actual costs incurred and standard costs.
Produce on hand is valued at standard cost.
Standard costings are based upon calculations prepared by the Central Association of Agricultural Valuers.

The basis of valuation is consistent with previous years.

 

C. G. Kendall Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2022 - 3).

 

C. G. Kendall Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

7,669,389

753,660

15,000

8,438,049

Additions

64,836

82,270

-

147,106

Disposals

-

(13,500)

-

(13,500)

At 31 December 2023

7,734,225

822,430

15,000

8,571,655

Depreciation

At 1 January 2023

314,154

450,382

12,256

776,792

Charge for the year

68,035

69,249

686

137,970

Eliminated on disposal

-

(9,325)

-

(9,325)

At 31 December 2023

382,189

510,306

12,942

905,437

Carrying amount

At 31 December 2023

7,352,036

312,124

2,058

7,666,218

At 31 December 2022

7,355,235

303,278

2,744

7,661,257

Included within the net book value of land and buildings above is £7,352,036 (2022 - £7,355,235) in respect of freehold land and buildings.
 

5

Investment properties

2023
£

At 1 January

299,000

At 31 December

299,000

There has been no valuation of investment property by an independent valuer.

 

C. G. Kendall Limited

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

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

293,575

293,575

Fair value adjustments

28,159

28,159

Disposals

(2,880)

(2,880)

At 31 December 2023

318,854

318,854

Impairment

Carrying amount

At 31 December 2023

318,854

318,854

7

Stocks

2023
£

2022
£

Other inventories

460,491

441,252

8

Debtors

Current

2023
£

2022
£

Trade debtors

81,924

138,806

Other debtors

70,344

63,719

 

152,268

202,525

9

Current asset investments

2023
£

2022
£

Other investments

3,950

3,950

 

C. G. Kendall Limited

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

10

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

58,758

58,833

Trade creditors

 

51,355

24,474

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

12

73,334

81,297

Taxation and social security

 

88,066

67,111

Accruals and deferred income

 

29,124

28,738

Other creditors

 

1,199

155

 

301,836

260,608

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £28,758 (2022 - £28,833).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

52,500

111,333

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £NIL (2022 - £28,833).

 

C. G. Kendall Limited

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

11

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

52,500

82,500

Hire purchase contracts

-

28,833

52,500

111,333

Current loans and borrowings

2023
£

2022
£

Bank borrowings

30,000

30,000

Hire purchase contracts

28,758

28,833

58,758

58,833

12

Related party transactions

Summary of transactions with other related parties

The company has taken advantage of the exemption in relation to section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.
 

13

Parent and ultimate parent undertaking

The Company's immediate parent is Arras Holdings Limited, incorporated in England.