Company No: 00060894 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	1,735,294		1,736,691
Investment property	4	285,000		252,500
Investments	5	70,000		70,000
		2,090,294		2,059,191
Current assets
Stocks		574,325		514,645
Debtors	6	61,138		63,338
Cash at bank and in hand		800,854		855,174
		1,436,317		1,433,157
Creditors: amounts falling due within one year	7	( 326,443)		( 327,755)
Net current assets		1,109,874		1,105,402
Total assets less current liabilities		3,200,168		3,164,593
Provision for liabilities		( 103,999)		( 101,760)
Net assets		3,096,169		3,062,833
Capital and reserves
Called-up share capital	8	17,905		17,905
Share premium account		27,611		27,611
Capital redemption reserve		167,156		167,156
Profit and loss account	9	2,883,497		2,850,161
Total shareholders' funds		3,096,169		3,062,833

For the financial year ending 30 June 2024 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Edwin Tucker & Sons Limited (registered number: 00060894) were approved and authorised for issue by the Board of Directors on 02 October 2024. They were signed on its behalf by:

J R M Webber Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Edwin Tucker & Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Commercial Road, Crediton, EX17 1ER, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover shown in the Profit and Loss Account represents amounts receivable during the year, exclusive of VAT. Turnover arises from the sale of goods and is recognised on despatch.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	100 years straight line
Plant and machinery	5 - 10 years straight line
Vehicles	5 years straight line

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value, a valuation made by the directors. Changes in fair value are recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	26		23

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 July 2023	1,717,665		180,761		65,874		1,964,300
Additions	24,988		775		0		25,763
At 30 June 2024	1,742,653		181,536		65,874		1,990,063
Accumulated depreciation
At 01 July 2023	59,792		129,300		38,517		227,609
Charge for the financial year	3,038		15,262		8,860		27,160
At 30 June 2024	62,830		144,562		47,377		254,769
Net book value
At 30 June 2024	1,679,823		36,974		18,497		1,735,294
At 30 June 2023	1,657,873		51,461		27,357		1,736,691

4. Investment property

	Investment property
	£
Valuation
As at 01 July 2023	252,500
Fair value movement	32,500
As at 30 June 2024	285,000

Valuation

Investment properties have been valued by the directors and have a fair value of £285,000 (2023: £252,500).

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 July 2023	70,000
At 30 June 2024	70,000
Carrying value at 30 June 2024	70,000
Carrying value at 30 June 2023	70,000

6. Debtors

	2024		2023
	£		£
Trade debtors	59,103		45,509
Corporation tax	0		17,739
Other debtors	2,035		90
	61,138		63,338

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	130,949		140,729
Accruals	151,645		157,059
Corporation tax	11,920		0
Other taxation and social security	23,664		21,702
Other creditors	8,265		8,265
	326,443		327,755

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
3,581 Ordinary shares of £ 5.00 each	17,905		17,905
1,653 Preference shares of £ 5.00 each	8,265		8,265
	26,170		26,170

9. Reserves

Reserves

The profit and loss reserve includes £213,750 (2023: £189,275) of unrealised gains in respect of investment properties and deferred tax thereon.