R.G.Kendall & Sons Limited 00756917 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is farming Digita Accounts Production Advanced 6.30.9574.0 true false 00756917 2023-01-01 2023-12-31 00756917 2023-12-31 00756917 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 00756917 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 00756917 core:CurrentFinancialInstruments 2023-12-31 00756917 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00756917 core:Non-currentFinancialInstruments 2023-12-31 00756917 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 00756917 core:LandBuildings 2023-12-31 00756917 core:OtherPropertyPlantEquipment 2023-12-31 00756917 bus:SmallEntities 2023-01-01 2023-12-31 00756917 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00756917 bus:FilletedAccounts 2023-01-01 2023-12-31 00756917 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00756917 bus:RegisteredOffice 2023-01-01 2023-12-31 00756917 bus:Director4 2023-01-01 2023-12-31 00756917 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00756917 core:Buildings 2023-01-01 2023-12-31 00756917 core:Land 2023-01-01 2023-12-31 00756917 core:LandBuildings 2023-01-01 2023-12-31 00756917 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 00756917 core:PlantMachinery 2023-01-01 2023-12-31 00756917 1 2023-01-01 2023-12-31 00756917 countries:England 2023-01-01 2023-12-31 00756917 2022-12-31 00756917 core:LandBuildings 2022-12-31 00756917 core:OtherPropertyPlantEquipment 2022-12-31 00756917 2022-01-01 2022-12-31 00756917 2022-12-31 00756917 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 00756917 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 00756917 core:CurrentFinancialInstruments 2022-12-31 00756917 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 00756917 core:Non-currentFinancialInstruments 2022-12-31 00756917 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 00756917 core:LandBuildings 2022-12-31 00756917 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 00756917

R.G.Kendall & Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

R.G.Kendall & Sons Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

R.G.Kendall & Sons Limited

(Registration number: 00756917)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

10,641,807

10,637,611

Current assets

 

Stocks

5

584,407

605,859

Debtors

6

162,852

105,670

Investments

7

3

3

Cash at bank and in hand

 

508,908

562,682

 

1,256,170

1,274,214

Creditors: Amounts falling due within one year

8

(812,422)

(801,720)

Net current assets

 

443,748

472,494

Total assets less current liabilities

 

11,085,555

11,110,105

Creditors: Amounts falling due after more than one year

8

(542,043)

(859,428)

Provisions for liabilities

(1,965,713)

(1,964,461)

Net assets

 

8,577,799

8,286,216

Capital and reserves

 

Called up share capital

100

100

Other reserves

6,311,269

6,339,236

Retained earnings

2,266,430

1,946,880

Shareholders' funds

 

8,577,799

8,286,216

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:
 

.........................................
P R Kendall
Director

 

R.G.Kendall & Sons 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:
Low Grange
Shiptonthorpe
York
North Yorkshire
YO43 3PZ

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements have been prepared in sterling and are 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in statement of income and retained earnings, 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.

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.

 

R.G.Kendall & Sons Limited

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

Tangible assets

Some tangible assets are stated in the statement of financial position at valuation and some tangible assets are stated 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

At varying rates per annum, 2% to 4% straight line basis

Plant and machinery

15% to 20% reducing balance basis

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.

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 statement of income and retained earnings 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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. 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. 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 statement of income and retained eanings and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

R.G.Kendall & Sons Limited

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

Defined contribution pension obligation

The company makes contributions into the personal pension schemes of the directors. The company also makes contributions into the NEST scheme on behalf of its employees.

Contributions are recognised as employee benefit expense when they are due.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 7 (2022 - 8).

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

9,932,876

1,577,802

11,510,678

Additions

-

387,090

387,090

Disposals

-

(270,130)

(270,130)

At 31 December 2023

9,932,876

1,694,762

11,627,638

Depreciation

At 1 January 2023

236,658

636,409

873,067

Charge for the year

49,646

219,584

269,230

Eliminated on disposal

-

(156,466)

(156,466)

At 31 December 2023

286,304

699,527

985,831

Carrying amount

At 31 December 2023

9,646,572

995,235

10,641,807

At 31 December 2022

9,696,218

941,393

10,637,611

Included within the net book value of land and buildings above is £9,646,572 (2022 - £9,696,218) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Raw materials and consumables

584,407

605,859

6

Debtors

Current

2023
£

2022
£

Trade debtors

160,539

103,900

Prepayments

-

1,770

Other debtors

2,313

-

 

162,852

105,670

 

R.G.Kendall & Sons Limited

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

7

Current asset investments

2023
£

2022
£

Other investments

3

3

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

316,270

315,155

Trade creditors

 

95,282

144,655

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

228,000

214,000

Taxation and social security

 

95,326

26,551

Accruals and deferred income

 

13,619

16,837

Other creditors

 

63,925

84,522

 

812,422

801,720

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £306,421 (2022 - £305,549).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

542,043

859,428

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £525,276 (2022 - £832,569).

Creditors include bank loans repayable by instalments of £58,709 (2022 - £61,901) due after more than five years.

 

R.G.Kendall & Sons Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

495,043

765,428

Hire purchase contracts

47,000

94,000

542,043

859,428

Current loans and borrowings

2023
£

2022
£

Bank borrowings

269,270

268,155

Hire purchase contracts

47,000

47,000

316,270

315,155

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £39,788 (2022 - £54,013).

11

Parent and ultimate parent undertaking

The Company's immediate parent is R. G. Kendall (Holdings) Limited, incorporated in England.