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REGISTRAR OF COMPANIES

Registration number: 01970085

T.W. Relph And Sons Limited

Unaudited Financial Statements

29 February 2024

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T.W. Relph And Sons Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
T.W. Relph And Sons Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of T.W. Relph And Sons Limited for the year ended 29 February 2024 as set out on pages 2 to 10 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 at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of T.W. Relph And Sons Limited, as a body, in accordance with the terms of our engagement letter dated 21 July 2022. Our work has been undertaken solely to prepare for your approval the accounts of T.W. Relph And Sons Limited and state those matters that we have agreed to state to the Board of Directors of T.W. Relph And Sons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T.W. Relph And Sons Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that T.W. Relph And Sons Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of T.W. Relph And Sons Limited. You consider that T.W. Relph And Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of T.W. Relph And Sons 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 accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

26 November 2024

 

T.W. Relph And Sons Limited

(Registration number: 01970085)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

839,418

834,791

Current assets

 

Stocks

1,423,959

1,603,886

Debtors

6

1,500,761

1,408,005

Other financial assets

5

1,716,950

1,605,937

Cash at bank and in hand

 

4,821,760

4,468,651

 

9,463,430

9,086,479

Creditors: Amounts falling due within one year

7

(811,427)

(897,311)

Net current assets

 

8,652,003

8,189,168

Total assets less current liabilities

 

9,491,421

9,023,959

Provisions for liabilities

(111,439)

(93,130)

Net assets

 

9,379,982

8,930,829

Capital and reserves

 

Allotted, called up and fully paid share capital

1,000

1,000

Profit and loss account

9,378,982

8,929,829

Total equity

 

9,379,982

8,930,829

 

T.W. Relph And Sons Limited

(Registration number: 01970085)
Balance Sheet as at 29 February 2024 (continued)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 

.........................................

J W Relph

Director

.........................................

G W E Relph

Director

 

T.W. Relph And Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Moor House
Yanwath
PENRITH
CA10 2LD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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.

Government grants

Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

Tax

The tax expense for the period comprises current and deferred 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.

 

T.W. Relph And Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

The current income 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Buildings

Straight line basis over 10 & 60 years

Plant and equipment

20% reducing balance

Motor vehicles

25% reducing balance

Furniture, fittings and office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

T.W. Relph And Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

 

T.W. Relph And Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

Financial instruments

Classification
Equity shares and debt securities
 Recognition and measurement
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 Impairment
For instruments measured at cost less impairment the impairment is the difference between the assets' carrying amount and the best estimate the entity would receive for the asset if it were sold at the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 17).

 

T.W. Relph And Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

4

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 March 2023

924,984

62,900

113,795

30,728

1,132,407

Additions

-

36,851

-

1,676

38,527

Disposals

-

(14,550)

(13,120)

-

(27,670)

At 29 February 2024

924,984

85,201

100,675

32,404

1,143,264

Depreciation

At 1 March 2023

165,792

43,201

73,458

15,165

297,616

Charge for the year

323

3,781

12,361

3,281

19,746

Eliminated on disposal

-

(1,054)

(12,462)

-

(13,516)

At 29 February 2024

166,115

45,928

73,357

18,446

303,846

Carrying amount

At 29 February 2024

758,869

39,273

27,318

13,958

839,418

At 28 February 2023

759,192

19,699

40,337

15,563

834,791

5

Other financial assets (current and non-current)

2024
£

2023
£

Current financial assets

Financial assets at fair value through profit and loss

1,716,950

1,605,937

6

Debtors

2024
£

2023
£

Trade debtors

1,407,109

1,358,967

Other debtors

93,652

49,038

1,500,761

1,408,005

 

T.W. Relph And Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

7

Creditors

2024
£

2023
£

Due within one year

 

Trade creditors

 

618,404

737,565

Taxation and social security

 

18,423

10,261

Corporation tax liability

 

162,979

138,374

Other creditors

 

11,621

11,111

 

811,427

897,311

 

T.W. Relph And Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

8

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 29 February 2024
£

R J Relph

Director's loan

18,864

92,025

(22,845)

-

(66,000)

832

22,876

               
         

J W Relph

Director's loan

18,864

100,628

(24,912)

-

(66,000)

841

29,421

               
         

 

2023

At 1 March 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 28 February 2023
£

R J Relph

Director's loan

1,633

84,682

-

-

(68,000)

549

18,864

               
         

J W Relph

Director's loan

1,633

84,683

-

-

(68,000)

548

18,864

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2% and 2.25% on advances to directors.