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REGISTERED NUMBER: 00830134 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30th April 2024

for

J. & E. Medcalf Limited

J. & E. Medcalf Limited (Registered number: 00830134)






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


J. & E. Medcalf Limited

Company Information
for the Year Ended 30th April 2024







DIRECTORS: Gerald Ernest Medcalf
Ms Claire Medcalf
Mrs Rachael Louise Robinson
Miss Elizabeth Anne Medcalf
Jonathan Edward Medcalf
Robert James Medcalf





SECRETARY: Ms Claire Medcalf





REGISTERED OFFICE: Bowrake Farm
Addlethorpe Lane
Sicklinghall
Wetherby
West Yorkshire
LS22 4DD





REGISTERED NUMBER: 00830134 (England and Wales)

J. & E. Medcalf Limited (Registered number: 00830134)

Balance Sheet
30th April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,739,308 2,498,104
Investments 5 24,314 24,314
2,763,622 2,522,418

CURRENT ASSETS
Stocks 250,348 258,221
Debtors 6 862,913 817,990
Cash at bank - 5,839
1,113,261 1,082,050
CREDITORS
Amounts falling due within one year 7 1,445,928 1,289,956
NET CURRENT LIABILITIES (332,667 ) (207,906 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,430,955

2,314,512

CREDITORS
Amounts falling due after more than one
year

8

1,366,000

1,213,036
NET ASSETS 1,064,955 1,101,476

J. & E. Medcalf Limited (Registered number: 00830134)

Balance Sheet - continued
30th April 2024

30.4.24 30.4.23
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 11 2,000 2,000
Retained earnings 1,062,955 1,099,476
SHAREHOLDERS' FUNDS 1,064,955 1,101,476

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.

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 29th November 2024 and were signed on its behalf by:




Ms Claire Medcalf - Director



Robert James Medcalf - Director


J. & E. Medcalf Limited (Registered number: 00830134)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

J. & E. Medcalf 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 land and buildings - 2% Straight Line Basis and Not Depreciated
Tenants' improvements to short leasehold
property

-

5% Straight Line Basis
Plant and machinery - 15% on Reducing Balance
Fixtures and fittings - 15% on Reducing Balance and 5% on Reducing Balance
Motor vehicles - 25% on Reducing Balance

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are recognised at amortised cost with changes recognised in the income statement.

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.


J. & E. Medcalf Limited (Registered number: 00830134)

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.

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

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.

Fixed asset investments
Fixed asset investments are measured at fair value through the profit and loss account. Equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably are recognised at cost less any impairment until a reliable measure of fair value becomes available.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 29 ) .

J. & E. Medcalf Limited (Registered number: 00830134)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st May 2023 1,764,531 2,476,632 4,241,163
Additions - 525,145 525,145
Disposals - (152,614 ) (152,614 )
At 30th April 2024 1,764,531 2,849,163 4,613,694
DEPRECIATION
At 1st May 2023 160,679 1,582,380 1,743,059
Charge for year 24,707 253,254 277,961
Eliminated on disposal - (146,634 ) (146,634 )
At 30th April 2024 185,386 1,689,000 1,874,386
NET BOOK VALUE
At 30th April 2024 1,579,145 1,160,163 2,739,308
At 30th April 2023 1,603,852 894,252 2,498,104

Included in cost of land and buildings is freehold land of £ 835,525 (2023 - £ 835,525 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st May 2023 125,525
Additions 433,229
Transfer to ownership (25,500 )
At 30th April 2024 533,254
DEPRECIATION
At 1st May 2023 36,330
Charge for year 125,188
Transfer to ownership (3,825 )
At 30th April 2024 157,693
NET BOOK VALUE
At 30th April 2024 375,561
At 30th April 2023 89,195

J. & E. Medcalf Limited (Registered number: 00830134)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.4.24 30.4.23
£    £   
Craven Cattle Marts Limited 20,000 20,000
Clitheroe Auction Mart Limited 3,379 3,379
WCF Limited 935 935
24,314 24,314

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 746,961 747,238
Other debtors 115,952 70,752
862,913 817,990

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 642,318 620,608
Hire purchase contracts (see note 9) 124,643 41,874
Trade creditors 589,687 528,677
Taxation and social security 3,388 7,523
Other creditors 85,892 91,274
1,445,928 1,289,956

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 1,068,952 1,157,193
Hire purchase contracts (see note 9) 295,715 46,510
Other creditors 1,333 9,333
1,366,000 1,213,036

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years by instalments 707,360 799,282
Hire purchase 26,344 -
733,704 799,282

J. & E. Medcalf Limited (Registered number: 00830134)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 124,643 41,874
Between one and five years 269,371 46,510
In more than five years 26,344 -
420,358 88,384

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 8,702 13,122
Between one and five years 15,236 23,075
23,938 36,197

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdrafts 554,076 535,849
Bank loans 1,157,194 1,241,952
Hire purchase contracts 420,358 88,384
2,131,628 1,866,185

The bank borrowings are secured by way of a fixed and floating charge over the assets of the Company.

The hire purchase liability is secured against certain of the Company's motor vehicles and mobile plant.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2,000 Ordinary 'A', 'B', 'C', 'D',
'E' and 'F' £1 2,000 2,000