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REGISTERED NUMBER: 03729212 (England and Wales)














Financial Statements

for the Year Ended 31st March 2024

for

Garfield John Limited

Garfield John Limited (Registered number: 03729212)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Garfield John Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: Mr R.D. John
Mrs M.B.A. John
Mr R.L. John
Mrs K G John





SECRETARY: Mrs M.B.A. John





REGISTERED OFFICE: Walton Grange
CLARBESTON ROAD
Pembrokeshire
SA63 4SY





REGISTERED NUMBER: 03729212 (England and Wales)

Garfield John Limited (Registered number: 03729212)

Abridged Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,002,026 3,127,617

CURRENT ASSETS
Stocks 704,653 837,011
Debtors 178,412 218,261
Investments 201,565 201,012
Cash at bank 1,928,594 1,583,699
3,013,224 2,839,983
CREDITORS
Amounts falling due within one year 316,039 407,703
NET CURRENT ASSETS 2,697,185 2,432,280
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,699,211

5,559,897

PROVISIONS FOR LIABILITIES 279,422 239,745
NET ASSETS 5,419,789 5,320,152

CAPITAL AND RESERVES
Called up share capital 757,100 757,100
Fair value reserve 5 47,110 47,110
Retained earnings 4,615,579 4,515,942
5,419,789 5,320,152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

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

Garfield John Limited (Registered number: 03729212)

Abridged Balance Sheet - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th August 2024 and were signed on its behalf by:




Mr R.D. John - Director Mrs M.B.A. John - Director




Mr R.L. John - Director Mrs K G John - Director


Garfield John Limited (Registered number: 03729212)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Garfield John 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.

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 rate in order to write off each asset over its estimated useful life:

Plant and machinery - straight line basis over 7 1/2 years assuming a residual value of 20% of cost.

Stocks
Stock and biological assets are included at the lower of cost and estimated selling price less costs to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 18 ) .

Garfield John Limited (Registered number: 03729212)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023 5,586,546
Additions 122,341
Disposals (79,199 )
At 31st March 2024 5,629,688
DEPRECIATION
At 1st April 2023 2,458,929
Charge for year 208,279
Eliminated on disposal (39,546 )
At 31st March 2024 2,627,662
NET BOOK VALUE
At 31st March 2024 3,002,026
At 31st March 2023 3,127,617

No depreciation has been provided in respect of buildings on the basis that the program of maintenance and repairs ensures that the net realisable value of the buildings at all times exceed cost.

5. RESERVES
Fair
value
reserve
£   
At 1st April 2023
and 31st March 2024 47,110

6. RELATED PARTY TRANSACTIONS

The Company rents agricultural property from Mr & Mrs R.D. John and Mr & Mrs R.L. John at an annual rent of £102,400.