Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Mr D J Butler 22/12/2005 Mrs J Butler 01/07/2015 Mr J R Curnick 22/12/2005 22 October 2024 The principle activity of the company during the year was farming. 05661864 2023-09-30 05661864 bus:Director1 2023-09-30 05661864 bus:Director2 2023-09-30 05661864 bus:Director3 2023-09-30 05661864 2022-09-30 05661864 core:CurrentFinancialInstruments 2023-09-30 05661864 core:CurrentFinancialInstruments 2022-09-30 05661864 core:ShareCapital 2023-09-30 05661864 core:ShareCapital 2022-09-30 05661864 core:RetainedEarningsAccumulatedLosses 2023-09-30 05661864 core:RetainedEarningsAccumulatedLosses 2022-09-30 05661864 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2022-09-30 05661864 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2023-09-30 05661864 core:LandBuildings 2022-09-30 05661864 core:PlantMachinery 2022-09-30 05661864 core:Vehicles 2022-09-30 05661864 core:LandBuildings 2023-09-30 05661864 core:PlantMachinery 2023-09-30 05661864 core:Vehicles 2023-09-30 05661864 core:ConsumableBiologicalAssetClass1 2022-09-30 05661864 core:ConsumableBiologicalAssetClass1 2023-09-30 05661864 bus:OrdinaryShareClass1 2023-09-30 05661864 bus:OrdinaryShareClass2 2023-09-30 05661864 bus:OrdinaryShareClass3 2023-09-30 05661864 bus:OrdinaryShareClass4 2023-09-30 05661864 2022-10-01 2023-09-30 05661864 bus:FilletedAccounts 2022-10-01 2023-09-30 05661864 bus:SmallEntities 2022-10-01 2023-09-30 05661864 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 05661864 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 05661864 bus:Director1 2022-10-01 2023-09-30 05661864 bus:Director2 2022-10-01 2023-09-30 05661864 bus:Director3 2022-10-01 2023-09-30 05661864 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2022-10-01 2023-09-30 05661864 core:LandBuildings 2022-10-01 2023-09-30 05661864 core:PlantMachinery 2022-10-01 2023-09-30 05661864 core:Vehicles 2022-10-01 2023-09-30 05661864 2021-10-01 2022-09-30 05661864 core:ConsumableBiologicalAssetClass1 2022-10-01 2023-09-30 05661864 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 05661864 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 05661864 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 05661864 bus:OrdinaryShareClass2 2021-10-01 2022-09-30 05661864 bus:OrdinaryShareClass3 2022-10-01 2023-09-30 05661864 bus:OrdinaryShareClass3 2021-10-01 2022-09-30 05661864 bus:OrdinaryShareClass4 2022-10-01 2023-09-30 05661864 bus:OrdinaryShareClass4 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05661864 (England and Wales)

J CURNICK & SON LTD

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

J CURNICK & SON LTD

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

J CURNICK & SON LTD

BALANCE SHEET

As at 30 September 2023
J CURNICK & SON LTD

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 154,956 133,746
Biological assets 5 143,830 118,065
298,786 251,811
Current assets
Stocks 412,366 270,243
Debtors 6 116,607 194,959
Cash at bank and in hand 686,227 592,771
1,215,200 1,057,973
Creditors: amounts falling due within one year 7 ( 529,325) ( 417,125)
Net current assets 685,875 640,848
Total assets less current liabilities 984,661 892,659
Provision for liabilities ( 38,739) ( 33,232)
Net assets 945,922 859,427
Capital and reserves
Called-up share capital 8 1,000 1,000
Profit and loss account 944,922 858,427
Total shareholders' funds 945,922 859,427

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of J Curnick & Son Ltd (registered number: 05661864) were approved and authorised for issue by the Board of Directors on 22 October 2024. They were signed on its behalf by:

Mr J R Curnick
Director
J CURNICK & SON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
J CURNICK & SON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
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

J Curnick & Son Ltd (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 Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Entitlements 5 years straight line
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, reducing balance] basis over its expected useful life, as follows:

Land and buildings 2 % reducing balance
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Biological assets

The Company owned and a dairy herd. In accordance with FRS102, these are defined as biological assets.

Biological assets are recognised only when the entity has control of the asset as a result of past events, it is probable that future economic benefits associated with the asset will flow to the entity; and the fair value or cost of the asset can be measured reliably.

Where the Company measures a biological asset under the fair value model on initial recognition, it must carry the asset at fair value at each reporting date. Changes in fair value less costs to sell are recognised in profit or loss.

The Company measures biological assets at cost less accumulated depreciation and accumulated impairment losses as follows:

Cattle - 10% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Entitlements Total
£ £
Cost
At 01 October 2022 45,100 45,100
At 30 September 2023 45,100 45,100
Accumulated amortisation
At 01 October 2022 45,100 45,100
At 30 September 2023 45,100 45,100
Net book value
At 30 September 2023 0 0
At 30 September 2022 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 October 2022 46,620 150,977 29,098 226,695
Additions 0 36,809 0 36,809
At 30 September 2023 46,620 187,786 29,098 263,504
Accumulated depreciation
At 01 October 2022 932 72,125 19,892 92,949
Charge for the financial year 914 12,383 2,302 15,599
At 30 September 2023 1,846 84,508 22,194 108,548
Net book value
At 30 September 2023 44,774 103,278 6,904 154,956
At 30 September 2022 45,688 78,852 9,206 133,746

5. Biological assets

2023
£
Biological assets at cost 143,830

Assets held at cost:

Dairy Total
£ £
Cost
At 01 October 2022 208,265 208,265
Increase due to purchases/ transfers in 80,190 80,190
Decrease attributable to sales/ transfers out ( 82,059) ( 82,059)
At 30 September 2023 206,396 206,396
Accumulated depreciation
At 01 October 2022 90,200 90,200
Charge for the financial year 15,767 15,767
Reversal of past impairment losses ( 43,401) ( 43,401)
At 30 September 2023 62,566 62,566
Net book value
At 30 September 2023 143,830 143,830
At 30 September 2022 118,065 118,065

6. Debtors

2023 2022
£ £
Trade debtors 28,471 99,455
Prepayments and accrued income 43,939 61,002
VAT recoverable 41,192 31,497
Other debtors 3,005 3,005
116,607 194,959

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 115,454 42,258
Amounts owed to directors 297,982 313,756
Accruals 4,750 4,408
Taxation and social security 8,792 11,156
Other creditors 102,347 45,547
529,325 417,125

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
510 A ordinary shares of £ 1.00 each 510 510
50 B ordinary shares of £ 1.00 each 50 50
220 C ordinary shares of £ 1.00 each 220 220
220 D ordinary shares of £ 1.00 each 220 220
1,000 1,000

9. Related party transactions

Other related party transactions

Included within other creditors (other debtors) is a loan owed to an associated company of £87,072 (2022 £25,272). The loan is interest free and is repayable on demand.