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REGISTERED NUMBER: 00248625 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024

FOR

TAYLOR & SONS (GROWERS) LIMITED

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAYLOR & SONS (GROWERS) LIMITED

COMPANY INFORMATION
for the Year Ended 30th April 2024







DIRECTORS: R D A Taylor
Mrs B A Taylor
C R Taylor
O T Taylor





SECRETARY: Mrs B A Taylor





REGISTERED OFFICE: Cromwell House Farm
Cromwell
Newark
Nottinghamshire
NG23 6JE





REGISTERED NUMBER: 00248625 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

BALANCE SHEET
30th April 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,840,555 5,890,114
Investment property 5 300,000 300,000
6,140,555 6,190,114

CURRENT ASSETS
Stocks 6 218,725 454,186
Debtors 7 41,779 41,491
Cash at bank 326,850 206,695
587,354 702,372
CREDITORS
Amounts falling due within one year 8 135,703 142,017
NET CURRENT ASSETS 451,651 560,355
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,592,206

6,750,469

CREDITORS
Amounts falling due after more than one year 9 (66,000 ) (99,000 )

PROVISIONS FOR LIABILITIES 11 (273,228 ) (296,986 )
NET ASSETS 6,252,978 6,354,483

CAPITAL AND RESERVES
Called up share capital 12 6,002 6,002
Revaluation reserve 13 3,903,820 3,913,627
Retained earnings 13 2,343,156 2,434,854
SHAREHOLDERS' FUNDS 6,252,978 6,354,483

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

BALANCE SHEET - continued
30th April 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 28th October 2024 and were signed on its behalf by:




R D A Taylor - Director



Mrs B A Taylor - Director


TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

Taylor & Sons (Growers) 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.

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.
Land and buildings - not provided
Implements and equipment - 15% on reducing balance
Office furniture and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Long term contracts are stated at net cost less foreseeable losses less any applicable payments on account. The amount recorded as turnover in respect of long term contracts is ascertained by reference to the value of the work carried out to date. Attributable profit is recognised as the difference between recorded turnover and related costs.

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.


TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Office
Implements furniture
Land and and and
buildings equipment fittings
£    £    £   
COST OR VALUATION
At 1st May 2023 5,498,551 909,599 791
Additions - 21,474 -
Disposals - (27,500 ) -
At 30th April 2024 5,498,551 903,573 791
DEPRECIATION
At 1st May 2023 - 518,312 703
Charge for year - 58,237 9
Eliminated on disposal - (14,760 ) -
At 30th April 2024 - 561,789 712
NET BOOK VALUE
At 30th April 2024 5,498,551 341,784 79
At 30th April 2023 5,498,551 391,287 88

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1st May 2023 11,944 2,513 6,423,398
Additions - - 21,474
Disposals - - (27,500 )
At 30th April 2024 11,944 2,513 6,417,372
DEPRECIATION
At 1st May 2023 11,756 2,513 533,284
Charge for year 47 - 58,293
Eliminated on disposal - - (14,760 )
At 30th April 2024 11,803 2,513 576,817
NET BOOK VALUE
At 30th April 2024 141 - 5,840,555
At 30th April 2023 188 - 5,890,114

Cost or valuation at 30th April 2024 is represented by:

Office
Implements furniture
Land and and and
buildings equipment fittings
£    £    £   
Valuation in 2017 4,204,747 - -
Valuation in 2019 (63,803 ) - -
Cost 1,357,607 903,573 791
5,498,551 903,573 791

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2017 - - 4,204,747
Valuation in 2019 - - (63,803 )
Cost 11,944 2,513 2,276,428
11,944 2,513 6,417,372

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024

4. TANGIBLE FIXED ASSETS - continued

If land and buildings had not been revalued they would have been included at the following historical cost:

30/4/24 30/4/23
£    £   
Cost 1,357,607 1,357,607

Land and buildings were valued on an open market basis on 30th April 2024 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Implements
and
equipment
£   
COST OR VALUATION
At 1st May 2023 287,000
Transfer to ownership (82,000 )
At 30th April 2024 205,000
DEPRECIATION
At 1st May 2023 59,604
Charge for year 24,831
Transfer to ownership (20,141 )
At 30th April 2024 64,294
NET BOOK VALUE
At 30th April 2024 140,706
At 30th April 2023 227,396

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023
and 30th April 2024 300,000
NET BOOK VALUE
At 30th April 2024 300,000
At 30th April 2023 300,000

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30th April 2024 is represented by:
£   
Valuation in 1991 78,008
Valuation in 1998 10,000
Valuation in 2000 20,000
Valuation in 2003 10,000
Valuation in 2004 95,815
Valuation in 2010 10,000
Valuation in 2015 40,000
Cost 36,177
300,000

If the investment properties had not been revalued they would have been included at the following historical cost:

30/4/24 30/4/23
£    £   
Cost 36,177 36,177

The investment properties were valued on an open market basis on 30th April 2024 by the directors .

6. STOCKS
30/4/24 30/4/23
£    £   
Stocks 218,726 454,186

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 27,700 16,147
VAT 9,148 15,990
Prepayments 4,931 9,354
41,779 41,491

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Hire purchase contracts 33,000 33,000
Trade creditors 68,335 82,617
Tax - 1,460
Social security and other taxes - 1,403
Directors' current accounts 17,608 17,608
Accrued expenses 16,760 5,929
135,703 142,017

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/4/24 30/4/23
£    £   
Hire purchase contracts 66,000 99,000

10. SECURED DEBTS

The following secured debts are included within creditors:

30/4/24 30/4/23
£    £   
Hire purchase contracts 99,000 132,000

11. PROVISIONS FOR LIABILITIES
30/4/24 30/4/23
£    £   
Deferred tax 273,228 296,986

Deferred
tax
£   
Balance at 1st May 2023 296,986
Credit to Income Statement during year (23,758 )
Balance at 30th April 2024 273,228

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/4/24 30/4/23
value: £    £   
6,000 Ordinary £1 6,000 6,000
2 Ordinary "B" £1 2 2
6,002 6,002

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st May 2023 2,434,854 3,913,627 6,348,481
Deficit for the year (91,505 ) - (91,505 )
Dividends (10,000 ) - (10,000 )
Transfer from revaluation reserve 9,807 (9,807 ) -
At 30th April 2024 2,343,156 3,903,820 6,246,976

TAYLOR & SONS (GROWERS) LIMITED (REGISTERED NUMBER: 00248625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024

14. ULTIMATE CONTROLLING PARTY

Mr RDA Taylor and Mrs BA Taylor together have a controlling interest in the company.