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REGISTERED NUMBER: 05740678 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

J & E M Gill & Son Limited

J & E M Gill & Son Limited (Registered number: 05740678)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J & E M Gill & Son Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs Julie Eileen Gill
Mr James Anthony Gill





SECRETARY: Mrs Julie Eileen Gill





REGISTERED OFFICE: Little Edstone Farm
Great Edstone
Kirkbymoorside
North Yorkshire
YO62 6NY





REGISTERED NUMBER: 05740678 (England and Wales)





ACCOUNTANTS: Hallgarth Accountants Ltd
2 Hallgarth
Pickering
North Yorkshire
YO18 7AW

J & E M Gill & Son Limited (Registered number: 05740678)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,385,914 4,359,221
4,385,914 4,359,221

CURRENT ASSETS
Stocks 6 718,530 716,105
Debtors 7 182,320 283,202
Investments 8 233,799 211,701
1,134,649 1,211,008
CREDITORS
Amounts falling due within one year 9 795,259 697,362
NET CURRENT ASSETS 339,390 513,646
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,725,304

4,872,867

CREDITORS
Amounts falling due after more than one
year

10

(2,112,919

)

(2,252,940

)

PROVISIONS FOR LIABILITIES (260,919 ) (251,259 )
NET ASSETS 2,351,466 2,368,668

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,351,366 2,368,568
SHAREHOLDERS' FUNDS 2,351,466 2,368,668

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

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

J & E M Gill & Son Limited (Registered number: 05740678)

Balance Sheet - continued
31 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 18 November 2024 and were signed on its behalf by:





Mr James Anthony Gill - Director


J & E M Gill & Son Limited (Registered number: 05740678)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

J & E M Gill & Son 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets have been fully ammortised at the balance sheet date.

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.
Freehold property - not provided
Plant and machinery - 20% on reducing balance and 10% on reducing balance
Motor vehicles - 20% on reducing balance
Tractors - 20% on reducing balance

Stocks
Biological assets within stock, comprising of cattle, are valued under the deemed cost model in accordance with Section 34 of FRS102.

Growing crops are valued at deemed cost in accordance with Section 34 of FRS 102.

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.

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.

J & E M Gill & Son Limited (Registered number: 05740678)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Milk
Quota Entitlement Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 20,000 101,441 121,441
AMORTISATION
At 1 April 2023
and 31 March 2024 20,000 101,441 121,441
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 2,611,781 584,539 1,414,811
Additions - 61,603 117,887
Disposals - - (24,118 )
At 31 March 2024 2,611,781 646,142 1,508,580
DEPRECIATION
At 1 April 2023 - - 695,923
Charge for year - - 140,864
Eliminated on disposal - - (18,225 )
At 31 March 2024 - - 818,562
NET BOOK VALUE
At 31 March 2024 2,611,781 646,142 690,018
At 31 March 2023 2,611,781 584,539 718,888

J & E M Gill & Son Limited (Registered number: 05740678)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Motor
Computers vehicles Tractors Totals
£    £    £    £   
COST
At 1 April 2023 715 51,702 917,616 5,581,164
Additions 3,691 8,746 91,796 283,723
Disposals - (3,897 ) - (28,015 )
At 31 March 2024 4,406 56,551 1,009,412 5,836,872
DEPRECIATION
At 1 April 2023 236 38,537 487,247 1,221,943
Charge for year 1,376 4,362 104,433 251,035
Eliminated on disposal - (3,795 ) - (22,020 )
At 31 March 2024 1,612 39,104 591,680 1,450,958
NET BOOK VALUE
At 31 March 2024 2,794 17,447 417,732 4,385,914
At 31 March 2023 479 13,165 430,369 4,359,221

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery Tractors Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 33,750 365,950 399,700
DEPRECIATION
At 1 April 2023 6,750 113,146 119,896
Charge for year 5,400 50,561 55,961
At 31 March 2024 12,150 163,707 175,857
NET BOOK VALUE
At 31 March 2024 21,600 202,243 223,843
At 31 March 2023 27,000 252,804 279,804

6. STOCKS

Biological assets within stock, comprising of cattle, are valued under the deemed cost model in accordance with Section 34 of FRS102.

Growing crops are valued at deemed cost in accordance with Section 34 of FRS 102.

J & E M Gill & Son Limited (Registered number: 05740678)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 127,051 93,740
Other debtors 55,269 189,462
182,320 283,202

8. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Unlisted investments 233,799 211,701

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 482,434 405,198
Hire purchase contracts 95,435 82,923
Trade creditors 162,088 132,063
Taxation and social security 40,055 53,423
Other creditors 15,247 23,755
795,259 697,362

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 2,089,297 2,155,633
Hire purchase contracts 23,622 97,307
2,112,919 2,252,940

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,089,297 2,155,633