2
01/04/2023
31/03/2024
2024-03-31
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
2023-04-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
01129574
2023-04-01
2024-03-31
01129574
2024-03-31
01129574
2023-03-31
01129574
2022-04-01
2023-03-31
01129574
2023-03-31
01129574
2022-03-31
01129574
core:LandBuildings
core:LongLeaseholdAssets
2023-04-01
2024-03-31
01129574
core:PlantMachinery
2023-04-01
2024-03-31
01129574
core:MotorVehicles
2023-04-01
2024-03-31
01129574
core:NetGoodwill
2023-04-01
2024-03-31
01129574
bus:RegisteredOffice
2023-04-01
2024-03-31
01129574
bus:LeadAgentIfApplicable
2023-04-01
2024-03-31
01129574
bus:Director2
2023-04-01
2024-03-31
01129574
bus:Director4
2023-04-01
2024-03-31
01129574
bus:CompanySecretary1
2023-04-01
2024-03-31
01129574
core:NetGoodwill
2023-03-31
01129574
core:NetGoodwill
2024-03-31
01129574
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-03-31
01129574
core:LandBuildings
core:LongLeaseholdAssets
2023-03-31
01129574
core:PlantMachinery
2023-03-31
01129574
core:MotorVehicles
2023-03-31
01129574
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-03-31
01129574
core:LandBuildings
core:LongLeaseholdAssets
2024-03-31
01129574
core:PlantMachinery
2024-03-31
01129574
core:MotorVehicles
2024-03-31
01129574
core:WithinOneYear
2024-03-31
01129574
core:WithinOneYear
2023-03-31
01129574
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-04-01
2024-03-31
01129574
core:ShareCapital
2024-03-31
01129574
core:ShareCapital
2023-03-31
01129574
core:RetainedEarningsAccumulatedLosses
2024-03-31
01129574
core:RetainedEarningsAccumulatedLosses
2023-03-31
01129574
core:NetGoodwill
2023-03-31
01129574
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-03-31
01129574
core:LandBuildings
core:LongLeaseholdAssets
2023-03-31
01129574
core:PlantMachinery
2023-03-31
01129574
core:MotorVehicles
2023-03-31
01129574
bus:SmallEntities
2023-04-01
2024-03-31
01129574
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
01129574
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
01129574
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
01129574
bus:FullAccounts
2023-04-01
2024-03-31
01129574
core:AllAssociates
2023-04-01
2024-03-31
Company registration number:
01129574
C W J Fall & Sons Limited
Unaudited filleted financial statements
31 March 2024
THE BARKER PARTNERSHIP
Chartered Accountants
Thirsk
C W J Fall & Sons Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
C W J Fall & Sons Limited
Directors and other information
|
|
|
|
Directors |
C D Fall |
|
|
M A Fall |
|
|
|
|
|
|
|
Secretary |
M A Fall |
|
|
|
|
|
|
|
Company number |
01129574 |
|
|
|
|
|
|
|
Registered office |
Mile House Farm |
|
|
Bedale |
|
|
North Yorkshire |
|
|
DL8 2SF |
|
|
|
|
|
|
|
Accountants |
The Barker Partnership |
|
|
17 Central Buildings |
|
|
Market Place |
|
|
Thirsk |
|
|
North Yorkshire |
|
|
YO7 1HD |
|
|
|
C W J Fall & Sons Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of C W J Fall & Sons Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C W J Fall & Sons Limited for the year ended 31 March 2024 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of C W J Fall & Sons Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of C W J Fall & Sons Limited and state those matters that we have agreed to state to the board of directors of C W J Fall & Sons Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C W J Fall & Sons Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that C W J Fall & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C W J Fall & Sons Limited. You consider that C W J Fall & Sons Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of C W J Fall & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
4 October 2024
C W J Fall & Sons Limited
Balance sheet
31 March 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
3,000 |
|
|
|
3,750 |
|
|
Tangible assets |
|
6 |
1,053,299 |
|
|
|
1,064,310 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,056,299 |
|
|
|
1,068,060 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
156,090 |
|
|
|
211,565 |
|
|
Debtors |
|
7 |
209,908 |
|
|
|
184,655 |
|
|
Cash at bank and in hand |
|
|
557,045 |
|
|
|
417,705 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
923,043 |
|
|
|
813,925 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
183,452) |
|
|
|
(
142,713) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
739,591 |
|
|
|
671,212 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,795,890 |
|
|
|
1,739,272 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
42,418) |
|
|
|
(
44,629) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
1,753,472 |
|
|
|
1,694,643 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
300,000 |
|
|
|
300,000 |
Profit and loss account |
|
|
|
|
1,453,472 |
|
|
|
1,394,643 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
1,753,472 |
|
|
|
1,694,643 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 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 year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
04 October 2024
, and are signed on behalf of the board by:
C D Fall
Director
Company registration number:
01129574
C W J Fall & Sons Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mile House Farm, Bedale, North Yorkshire, DL8 2SF.The principal activity of the company is arable farming.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.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 for goods suppliedand services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in thereporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured atthe amounts of tax expected to pay or recover using the tax rates and laws that have been enacted orsubstantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved taxlosses and other deferred tax assets are recognised to the extent that it is probable that they will berecovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax ismeasured using the tax rates and laws that have been enacted or substantively enacted by thereporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are measured at cost less accumulated amortisation and accumulated impairment losses. Thay are amortised on a straight line basis over their useful life. Where a reliable estimate of the useful life of intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
Sporting rights |
- |
Straight line over 20 years
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
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:
|
|
|
|
|
|
Land and buildings |
- |
Straight line over 50 years (buildings only)
|
|
|
Expenditure on rented farms |
- |
10 % |
reducing balance |
|
Plant and machinery |
- |
15 % |
reducing balance |
|
Motor vehicles |
- |
15 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Defined contribution plans
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged in the profit and loss account.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
3
).
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
15,000 |
15,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 April 2023 |
11,250 |
11,250 |
|
|
|
|
|
Charge for the year |
750 |
750 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2024 |
12,000 |
12,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2024 |
3,000 |
3,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
3,750 |
3,750 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Freehold property |
Long leasehold property |
Plant and machinery |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2023 |
928,713 |
304,156 |
1,068,418 |
26,000 |
2,327,287 |
|
|
|
Additions |
- |
- |
14,950 |
33,315 |
48,265 |
|
|
|
Disposals |
- |
- |
(
22,000) |
(
26,000) |
(
48,000) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2024 |
928,713 |
304,156 |
1,061,368 |
33,315 |
2,327,552 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2023 |
96,822 |
277,910 |
881,029 |
7,216 |
1,262,977 |
|
|
|
Charge for the year |
4,269 |
2,625 |
27,874 |
4,164 |
38,932 |
|
|
|
Disposals |
- |
- |
(
20,441) |
(
7,215) |
(
27,656) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2024 |
101,091 |
280,535 |
888,462 |
4,165 |
1,274,253 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2024 |
827,622 |
23,621 |
172,906 |
29,150 |
1,053,299 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2023 |
831,891 |
26,246 |
187,389 |
18,784 |
1,064,310 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
64,757 |
30,319 |
|
Other debtors |
|
145,151 |
154,336 |
|
|
|
_______ |
_______ |
|
|
|
209,908 |
184,655 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
36,405 |
18,726 |
|
Corporation tax |
|
19,542 |
14,385 |
|
Social security and other taxes |
|
454 |
- |
|
Other creditors |
|
127,051 |
109,602 |
|
|
|
_______ |
_______ |
|
|
|
183,452 |
142,713 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Related party transactions
One of the directors of the company is also a director and shareholder of another limited company to whom this company has made a loan of £134,798 (2023: £134,798) The loan is unsecured, interest free and has no fixed repayment terms.During the year the directors provided the company with interest free unsecured loans, which have no fixed repayment terms. The amount included in creditors is £15,632 (2023 - £15,620).