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REGISTERED NUMBER: 00407435 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

G.W. Daniels and Son Limited

G.W. Daniels and Son Limited (Registered number: 00407435)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


G.W. Daniels and Son Limited (Registered number: 00407435)

Balance Sheet
31 March 2024

2024 2023
as restated
Notes £ £
Fixed assets
Tangible assets 5 15,253,493 15,269,351
Investments 6 50 50
15,253,543 15,269,401

Current assets
Stocks 337,897 358,666
Debtors 7 99,990 45,301
Cash in hand 499,405 730,565
937,292 1,134,532
Creditors
Amounts falling due within one year 8 (343,475 ) (535,360 )
Net current assets 593,817 599,172
Total assets less current liabilities 15,847,360 15,868,573

Creditors
Amounts falling due after more than one
year

9

(371,155

)

(398,401

)

Provisions for liabilities (2,225,278 ) (2,228,225 )
Net assets 13,250,927 13,241,947

G.W. Daniels and Son Limited (Registered number: 00407435)

Balance Sheet - continued
31 March 2024

2024 2023
as restated
Notes £ £
Capital and reserves
Called up share capital 22,910 22,910
Share premium 20,000 20,000
Revaluation reserve 11 10,687,787 10,687,787
Capital redemption reserve 20,619 20,619
Other reserves 5,000 5,000
Retained earnings 2,494,611 2,485,631
13,250,927 13,241,947

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

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

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 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 10 September 2024 and were signed on its behalf by:




Mr S G Daniels - Director



Mrs F Daniels - Director


G.W. Daniels and Son Limited (Registered number: 00407435)

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


1. Statutory information

G.W. Daniels and Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00407435

Registered office: Home Farm
Hemsby
Great Yarmouth
Norfolk
NR29 4LE

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold land and buildings - 2% and 5% Reducing balance
Plant and machinery - 20% and 25% Reducing balance

G.W. Daniels and Son Limited (Registered number: 00407435)

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


3. Accounting policies - continued

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

Financial instruments
The company classifies its financial instruments in the following categories: measured at amortised cost; and measured at fair value through profit and loss. The classification is determined at initial recognition and depends on the purpose for which the financial instruments are required.

Measured at amortised cost includes non-derivative financial assets and liabilities with fixed or determinable payments that are not quoted in an active market. Financial assets are included in current assets, except where the maturity date is more than 12 months after the end of the reporting period. They are initially recorded at fair value and subsequently recorded at amortised cost. Financial liabilities are included in current liabilities, except where the maturity date is more than 12 months after the end of the reporting period. They are initially measured at original cost, less amortisation or provisions raised.

Measured at fair value through profit and loss includes financial assets and liabilities. They are classified according to maturity date, within current and non-current assets and liabilities respectively.

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.

4. Employees and directors

The average number of employees during the year was 6 (2023 - 6 ) .

G.W. Daniels and Son Limited (Registered number: 00407435)

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


5. Tangible fixed assets
Freehold Plant and
property machinery Totals
£ £ £
Cost
At 1 April 2023 15,294,185 412,611 15,706,796
Additions - 3,500 3,500
At 31 March 2024 15,294,185 416,111 15,710,296
Depreciation
At 1 April 2023 72,677 364,768 437,445
Charge for year 2,768 16,590 19,358
At 31 March 2024 75,445 381,358 456,803
Net book value
At 31 March 2024 15,218,740 34,753 15,253,493
At 31 March 2023 15,221,508 47,843 15,269,351

Freehold land and buildings are held at valuation. An independent valuer noted the value of freehold land and buildings on 31 March 2020. The directors consider this valuation appropriate at 31 March 2024.

6. Fixed asset investments
Other
investments
£
Cost
At 1 April 2023
and 31 March 2024 50
Net book value
At 31 March 2024 50
At 31 March 2023 50

7. Debtors: amounts falling due within one year
2024 2023
as restated
£ £
Trade debtors 69,309 5,915
Other debtors 30,681 39,386
99,990 45,301

G.W. Daniels and Son Limited (Registered number: 00407435)

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


8. Creditors: amounts falling due within one year
2024 2023
as restated
£ £
Bank loans and overdrafts 74,541 158,328
Trade creditors 112,205 102,793
Taxation and social security 7,142 58,983
Other creditors 149,587 215,256
343,475 535,360

9. Creditors: amounts falling due after more than one year
2024 2023
as restated
£ £
Bank loans 371,155 398,401

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 111,109 143,221

10. Secured debts

The bank loans are secured over the freehold property of the company.

11. Reserves
Revaluation
reserve
£
At 1 April 2023
and 31 March 2024 10,687,787

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.