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REGISTERED NUMBER: 01086330 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

T. & K. BROWN AND SONS LIMITED

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T. & K. BROWN AND SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr P T Brown
Mrs K J Kitching
Miss R L Brown
Mrs C E Little





SECRETARY: Mrs M M Brown





REGISTERED OFFICE: Halt Farm
Great Rollright
CHIPPING NORTON
Oxfordshire
OX7 5RE





REGISTERED NUMBER: 01086330 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 110,161 135,579

CURRENT ASSETS
Stocks 5 88,264 125,284
Debtors 6 48,988 22,243
Cash at bank 620,417 628,047
757,669 775,574
CREDITORS
Amounts falling due within one year 7 74,545 97,968
NET CURRENT ASSETS 683,124 677,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

793,285

813,185

CREDITORS
Amounts falling due after more than one
year

8

(10,875

)

(21,750

)

PROVISIONS FOR LIABILITIES 9 (18,803 ) (23,632 )
NET ASSETS 763,607 767,803

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Retained earnings 753,607 757,803
SHAREHOLDERS' FUNDS 763,607 767,803

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

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

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

BALANCE SHEET - continued
31 JANUARY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr P T Brown - Director


T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

T. & K. Brown and Sons 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 annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - in accordance with the property and Straight line over 20 years
Computer Equipment - 33% on cost
Implements - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Tractors & combine - 25% on reducing balance

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

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

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Current asset investments
Current asset investments are stated at the invested cost plus settled interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Computer
property Equipment Implements
£    £    £   
COST
At 1 February 2023
and 31 January 2024 38,421 1,134 235,831
DEPRECIATION
At 1 February 2023 27,220 1,132 197,478
Charge for year - - 5,753
At 31 January 2024 27,220 1,132 203,231
NET BOOK VALUE
At 31 January 2024 11,201 2 32,600
At 31 January 2023 11,201 2 38,353

Motor Tractors
vehicles & combine Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 10,000 458,200 743,586
DEPRECIATION
At 1 February 2023 9,674 372,503 608,007
Charge for year 81 19,584 25,418
At 31 January 2024 9,755 392,087 633,425
NET BOOK VALUE
At 31 January 2024 245 66,113 110,161
At 31 January 2023 326 85,697 135,579

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
& combine
£   
COST
At 1 February 2023
and 31 January 2024 78,500
DEPRECIATION
At 1 February 2023 19,625
Charge for year 14,719
At 31 January 2024 34,344
NET BOOK VALUE
At 31 January 2024 44,156
At 31 January 2023 58,875

5. STOCKS
31.1.24 31.1.23
£    £   
Valuation 88,264 125,284

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 43,883 3,013
VAT 2,457 16,550
Prepayments 2,648 2,680
48,988 22,243

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 10,875 10,875
Trade creditors 1,244 23,325
Tax 7,950 12,489
Social security and other taxes - 104
Proposed dividends 9,000 16,000
Other creditors 1,689 1,689
Directors' loan accounts 40,607 27,091
Accrued expenses 3,180 6,395
74,545 97,968

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 10,875 21,750

T. & K. BROWN AND SONS LIMITED (REGISTERED NUMBER: 01086330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax
Accelerated capital allowances 18,803 23,632

Deferred
tax
£   
Balance at 1 February 2023 23,632
Provided during year (4,829 )
Balance at 31 January 2024 18,803

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
7,500 Ordinary A £1 7,500 7,500
2,500 Ordinary B £1 2,500 2,500
10,000 10,000