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REGISTERED NUMBER: 08044299 (England and Wales)















Unaudited Financial Statements

for the Period 1 October 2022 to 30 March 2024

for

M R YOUNG & SONS (RURAL) LIMITED

M R YOUNG & SONS (RURAL) LIMITED (REGISTERED NUMBER: 08044299)






Contents of the Financial Statements
for the period 1 October 2022 to 30 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


M R YOUNG & SONS (RURAL) LIMITED

Company Information
for the period 1 October 2022 to 30 March 2024







DIRECTORS: P M G Young
J A V Handslip
S C E Young
D A G Young





REGISTERED OFFICE: Whyr Farm
Winterbourne Bassett
Swindon
Wiltshire
SN4 9QE





REGISTERED NUMBER: 08044299 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
M R Young & Sons (Rural) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M R Young & Sons (Rural) Limited for the period ended 30 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of M R Young & Sons (Rural) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M R Young & Sons (Rural) Limited and state those matters that we have agreed to state to the Board of Directors of M R Young & Sons (Rural) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M R Young & Sons (Rural) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M R Young & Sons (Rural) 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 M R Young & Sons (Rural) Limited. You consider that M R Young & Sons (Rural) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of M R Young & Sons (Rural) 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.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


17 October 2024

M R YOUNG & SONS (RURAL) LIMITED (REGISTERED NUMBER: 08044299)

Balance Sheet
30 March 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,802,199 2,834,280
Investments 5 1 1
Investment property 6 540,570 584,526
3,342,770 3,418,807

CURRENT ASSETS
Stocks 91,791 155,520
Debtors 7 151,917 164,188
Cash at bank 403,360 194,016
647,068 513,724
CREDITORS
Amounts falling due within one year 8 46,622 47,093
NET CURRENT ASSETS 600,446 466,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,943,216

3,885,438

PROVISIONS FOR LIABILITIES 9 188,904 6,974
NET ASSETS 3,754,312 3,878,464

CAPITAL AND RESERVES
Called up share capital 110,000 110,000
Share premium 2,740,000 2,740,000
Revaluation reserve 10 799,579 987,135
Other reserves 5,882 5,882
Retained earnings 98,851 35,447
3,754,312 3,878,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 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.

M R YOUNG & SONS (RURAL) LIMITED (REGISTERED NUMBER: 08044299)

Balance Sheet - continued
30 March 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 15 October 2024 and were signed on its behalf by:





D A G Young - Director


M R YOUNG & SONS (RURAL) LIMITED (REGISTERED NUMBER: 08044299)

Notes to the Financial Statements
for the period 1 October 2022 to 30 March 2024

1. STATUTORY INFORMATION

M R Young & Sons (Rural) 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, recognised when earned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - Land is not depreciated
Plant and machinery - 20% and 12.5% Straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is measured at fair value.

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 period 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

M R YOUNG & SONS (RURAL) LIMITED (REGISTERED NUMBER: 08044299)

Notes to the Financial Statements - continued
for the period 1 October 2022 to 30 March 2024

2. ACCOUNTING POLICIES - continued

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 period was 4 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 October 2022
and 30 March 2024 2,763,243 477,259 3,240,502
DEPRECIATION
At 1 October 2022 - 406,222 406,222
Charge for period - 32,081 32,081
At 30 March 2024 - 438,303 438,303
NET BOOK VALUE
At 30 March 2024 2,763,243 38,956 2,802,199
At 30 September 2022 2,763,243 71,037 2,834,280

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 October 2022
and 30 March 2024 1
NET BOOK VALUE
At 30 March 2024 1
At 30 September 2022 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 584,526
Disposals (46,431 )
Revaluations 2,475
At 30 March 2024 540,570
NET BOOK VALUE
At 30 March 2024 540,570
At 30 September 2022 584,526

M R YOUNG & SONS (RURAL) LIMITED (REGISTERED NUMBER: 08044299)

Notes to the Financial Statements - continued
for the period 1 October 2022 to 30 March 2024

6. INVESTMENT PROPERTY - continued

The investment property was revalued during 2017 by qualified surveyors, on an open market basis.The directors have elected not to revalue the property during the current year, as they believe this value remains representative at the balance sheet date.The value as at 30 September 2022 has not been assessed by a qualified external valuer.


7. DEBTORS
2024 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,487 10,044
Other debtors 43,435 47,149
44,922 57,193

Amounts falling due after more than one year:
Other debtors 106,995 106,995

Aggregate amounts 151,917 164,188

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade creditors 3,099 20,173
Taxation and social security 40,023 17,153
Other creditors 3,500 9,767
46,622 47,093

9. PROVISIONS FOR LIABILITIES
2024 2022
£    £   
Deferred tax
Accelerated capital allowances - (1,545 )
Deferred tax 188,904 8,519
188,904 6,974

Deferred
tax
£   
Balance at 1 October 2022 6,974
Accelerated capital allowances (6,095 )
Revaluation 188,025
Balance at 30 March 2024 188,904

M R YOUNG & SONS (RURAL) LIMITED (REGISTERED NUMBER: 08044299)

Notes to the Financial Statements - continued
for the period 1 October 2022 to 30 March 2024

10. RESERVES
Revaluation
reserve
£   
At 1 October 2022 987,135
No description (187,556 )

At 30 March 2024 799,579

11. CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

The directors have assessed there to be no change in the valuation of investment property. No other significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.