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REGISTERED NUMBER: 01816750 (England and Wales)















OLDERSHAWS OF MOULTON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






OLDERSHAWS OF MOULTON LIMITED (REGISTERED NUMBER: 01816750)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


OLDERSHAWS OF MOULTON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: D J Grimwood
R H Oldershaw Snr
R H Oldershaw Jnr
Mrs S L Woodrow
J E Lumley





SECRETARY: Mrs S L Woodrow





REGISTERED OFFICE: The Gables
Broad Lane
Moulton
Spalding
Lincolnshire
PE12 6PP





REGISTERED NUMBER: 01816750 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

OLDERSHAWS OF MOULTON LIMITED (REGISTERED NUMBER: 01816750)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,663,939 6,427,620
Investments 6 1 1
7,663,940 6,427,621

CURRENT ASSETS
Valuation 1,309,409 1,358,517
Debtors 7 1,381,255 472,485
Cash at bank - 406,829
2,690,664 2,237,831
CREDITORS
Amounts falling due within one year 8 1,470,413 1,061,704
NET CURRENT ASSETS 1,220,251 1,176,127
TOTAL ASSETS LESS CURRENT LIABILITIES 8,884,191 7,603,748

CREDITORS
Amounts falling due after more than one year 9 (1,873,698 ) (1,737,262 )

PROVISIONS FOR LIABILITIES (610,558 ) (420,531 )
NET ASSETS 6,399,935 5,445,955

CAPITAL AND RESERVES
Called up share capital 11 27,500 27,500
Share premium 398,547 398,547
Retained earnings 5,973,888 5,019,908
SHAREHOLDERS' FUNDS 6,399,935 5,445,955

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

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

OLDERSHAWS OF MOULTON LIMITED (REGISTERED NUMBER: 01816750)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 17 October 2024 and were signed on its behalf by:





D J Grimwood - Director


OLDERSHAWS OF MOULTON LIMITED (REGISTERED NUMBER: 01816750)

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

1. STATUTORY INFORMATION

Oldershaws of Moulton 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 represents net invoiced sales of produce, excluding value added tax, and includes the Single Farm Payment and environmental subsidies.

Sales of produce are recognised on despatch.

The Basic Farm Payment is recognised in the financial statements in accordance with current HM Revenue & Customs guidance.

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 25% on reducing balance and 10% on cost, not provided and 15% to 25% on reducing balance
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Government grants
Government grants are recognised on a systematic basis over a period in which the company recognises expenses for related costs for which the grant is intended to compensate.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


OLDERSHAWS OF MOULTON LIMITED (REGISTERED NUMBER: 01816750)

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

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 15 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 107,728
AMORTISATION
At 1 June 2023
and 31 May 2024 107,728
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

OLDERSHAWS OF MOULTON LIMITED (REGISTERED NUMBER: 01816750)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 5,555,918 3,806,602 9,362,520
Additions 482,134 1,473,971 1,956,105
Disposals - (599,685 ) (599,685 )
At 31 May 2024 6,038,052 4,680,888 10,718,940
DEPRECIATION
At 1 June 2023 731,698 2,203,202 2,934,900
Charge for year 40,365 447,544 487,909
Eliminated on disposal - (367,808 ) (367,808 )
At 31 May 2024 772,063 2,282,938 3,055,001
NET BOOK VALUE
At 31 May 2024 5,265,989 2,397,950 7,663,939
At 31 May 2023 4,824,220 1,603,400 6,427,620

Included in cost of land and buildings is freehold land of £ 1,318,296 (2023 - £ 1,318,296 ) which is not depreciated.


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023
and 31 May 2024 1
NET BOOK VALUE
At 31 May 2024 1
At 31 May 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 384,685 173,215
Other debtors 996,570 299,270
1,381,255 472,485

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 119,446 100,000
Hire purchase contracts 253,515 198,265
Trade creditors 531,810 231,644
Taxation and social security 133,718 134,768
Other creditors 431,924 397,027
1,470,413 1,061,704

OLDERSHAWS OF MOULTON LIMITED (REGISTERED NUMBER: 01816750)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,500,000 1,600,000
Hire purchase contracts 249,022 137,262
Other creditors 124,676 -
1,873,698 1,737,262

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,100,000 1,200,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 19,446 -
Bank loans 1,600,000 1,700,000
Hire purchase contracts 502,537 335,527
2,121,983 2,035,527

The bank facility is secured by various charges over approximately 258 acres of land together with debentures over the company's assets in favour of Barclays Bank plc.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,500 A Ordinary £1 2,500 2,500
20,000 B Ordinary £1 20,000 20,000
5,000 C Ordinary £1 5,000 5,000
27,500 27,500

12. GUARANTEES AND COMMITMENTS

The company is party to a Composite Accounting Agreement with Moulton Bulb Company Limited and Goldwood (Moulton) Limited under which it has given a cross guarantee bank facility to Barclays Bank plc.