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Company No: 00554429 (England and Wales)

BUTLER BROS. (AVEBURY) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BUTLER BROS. (AVEBURY) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BUTLER BROS. (AVEBURY) LIMITED

BALANCE SHEET

As at 31 March 2024
BUTLER BROS. (AVEBURY) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 2,554,562 1,183,449
2,554,562 1,183,449
Current assets
Stocks 469,709 450,309
Debtors 5 405,568 349,590
Cash at bank and in hand 128,319 39,673
1,003,596 839,572
Creditors: amounts falling due within one year 6 ( 912,892) ( 244,661)
Net current assets 90,704 594,911
Total assets less current liabilities 2,645,266 1,778,360
Creditors: amounts falling due after more than one year 7 ( 1,211,388) ( 408,073)
Provision for liabilities ( 218,819) ( 132,419)
Net assets 1,215,059 1,237,868
Capital and reserves
Called-up share capital 10,000 10,000
Profit and loss account 1,205,059 1,227,868
Total shareholders' funds 1,215,059 1,237,868

For the financial year ending 31 March 2024 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 Butler Bros. (Avebury) Limited (registered number: 00554429) were approved and authorised for issue by the Board of Directors on 08 November 2024. They were signed on its behalf by:

Mr B T Butler
Director
Mrs J K Butler
Director
Mr R E Butler
Director
BUTLER BROS. (AVEBURY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BUTLER BROS. (AVEBURY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Butler Bros. (Avebury) Limited (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 :
Manor Farm,
Avebury Trusloe,
Marlborough,
SN8 1QY,
United Kingdom.

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.

Construction contracts

Turnover and costs from contracts are recognised based on the stage of completion which is measured by [give details - e.g. estimated cost to complete / estimated time to complete / estimates from a qualified surveyor].
If it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible
assets acquired on business combinations are recognised separately from goodwill at the acquisition date if the fair value can be measured reliably.

Entitlements 20 % reducing balance
Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Land and buildings 0 - 5 years straight line
Assets under construction not depreciated
Plant and machinery 15 % reducing balance
Vehicles 0 - 20 % reducing balance
Other property, plant and equipment 15 % reducing balance
5 years straight line

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.

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

Recognition and measurement

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other
consideration expected to be paid or received, after taking account of impairment adjustments. Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Basic financial assets
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
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 April 2023 38,220 38,220
At 31 March 2024 38,220 38,220
Accumulated amortisation
At 01 April 2023 38,220 38,220
At 31 March 2024 38,220 38,220
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Tangible assets

Land and buildings Assets under construc-
tion
Plant and machinery Vehicles Other property, plant
and equipment
Total
£ £ £ £ £ £
Cost
At 01 April 2023 823,269 0 1,879,812 28,216 2,951 2,734,248
Additions 250,899 947,385 319,467 0 0 1,517,751
Disposals 0 0 ( 18,000) 0 0 ( 18,000)
At 31 March 2024 1,074,168 947,385 2,181,279 28,216 2,951 4,233,999
Accumulated depreciation
At 01 April 2023 321,737 0 1,204,894 23,598 570 1,550,799
Charge for the financial year 29,623 0 106,338 924 357 137,242
Disposals 0 0 ( 8,604) 0 0 ( 8,604)
At 31 March 2024 351,360 0 1,302,628 24,522 927 1,679,437
Net book value
At 31 March 2024 722,808 947,385 878,651 3,694 2,024 2,554,562
At 31 March 2023 501,532 0 674,918 4,618 2,381 1,183,449

5. Debtors

2024 2023
£ £
Trade debtors 156,675 123,671
Amounts owed by Group undertakings 2,016 2,016
Amounts owed by directors 8,001 27,766
Prepayments and accrued income 102,747 161,825
VAT recoverable 111,236 9,419
Other debtors 24,893 24,893
405,568 349,590

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 23,753 28,798
Trade creditors 739,852 57,801
Taxation and social security 1,195 69,408
Obligations under finance leases and hire purchase contracts 66,800 61,023
Other creditors 81,292 27,631
912,892 244,661

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 1,180,850 338,228
Obligations under finance leases and hire purchase contracts 30,538 69,845
1,211,388 408,073

There are no amounts included above in respect of which any security has been given by the small entity.