D.Obbard & Sons Limited 00534716 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is The principal activity of the company continued to be that of the holding of property assets used in connection with the trade of its subsidiary company, which is that of farmers and growers Digita Accounts Production Advanced 6.30.9574.0 true false true 00534716 2023-04-01 2024-03-31 00534716 2024-03-31 00534716 core:RetainedEarningsAccumulatedLosses 2024-03-31 00534716 core:RevaluationReserve 2024-03-31 00534716 core:ShareCapital 2024-03-31 00534716 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 00534716 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 00534716 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 00534716 bus:SmallEntities 2023-04-01 2024-03-31 00534716 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00534716 bus:FilletedAccounts 2023-04-01 2024-03-31 00534716 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00534716 bus:RegisteredOffice 2023-04-01 2024-03-31 00534716 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 00534716 bus:Director2 2023-04-01 2024-03-31 00534716 bus:Director3 2023-04-01 2024-03-31 00534716 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00534716 core:LandBuildings 2023-04-01 2024-03-31 00534716 countries:UnitedKingdom 2023-04-01 2024-03-31 00534716 2023-03-31 00534716 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 00534716 2022-04-01 2023-03-31 00534716 2023-03-31 00534716 core:RetainedEarningsAccumulatedLosses 2023-03-31 00534716 core:RevaluationReserve 2023-03-31 00534716 core:ShareCapital 2023-03-31 00534716 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 00534716 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 00534716 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 00534716

D.Obbard & Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

D.Obbard & Sons Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

D.Obbard & Sons Limited

Company Information

Directors

K D Obbard

S C Obbard

M M Burrows

Company secretary

K D Obbard

Registered office

West End
Cherry Gardens Farm
Cherry Gardens Hill
Groombridge
Kent
TN3 9NY

 

D.Obbard & Sons Limited

(Registration number: 00534716)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

145,676

145,676

Investment property

5

450,000

450,000

Investments

6

1

1

 

595,677

595,677

Creditors: Amounts falling due within one year

7

(1,193)

(750)

Total assets less current liabilities

 

594,484

594,927

Creditors: Amounts falling due after more than one year

7

(75,700)

(77,105)

Provisions for liabilities

(123,796)

(94,085)

Net assets

 

394,988

423,737

Capital and reserves

 

Called up share capital

10,000

10,000

Revaluation reserve

371,389

401,100

Retained earnings

13,599

12,637

Shareholders' funds

 

394,988

423,737

 

D.Obbard & Sons Limited

(Registration number: 00534716)
Balance Sheet as at 31 March 2024

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 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 28 October 2024 and signed on its behalf by:
 

.........................................
K D Obbard
Company secretary and director

 

D.Obbard & Sons Limited

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

1

General information

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

The address of its registered office is:
West End
Cherry Gardens Farm
Cherry Gardens Hill
Groombridge
Kent
TN3 9NY

These financial statements were authorised for issue by the Board on 28 October 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

D.Obbard & Sons Limited

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

Tax

The tax expense for the period comprises 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.

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 and buildings

Nil

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

D.Obbard & Sons Limited

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

Investments

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

D.Obbard & Sons Limited

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

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

145,676

145,676

At 31 March 2024

145,676

145,676

Depreciation

Carrying amount

At 31 March 2024

145,676

145,676

At 31 March 2023

145,676

145,676

Included within the net book value of land and buildings above is £145,676 (2023 - £145,676) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 April

450,000

At 31 March

450,000

Investment property is carried at fair value determined annually by the directors. The directors consider there has not been a material movement in the property valuation in the year.

6

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

D Obbard & Sons Limited owns 100% of the share capital of D. Obbard & Sons (Trading) Limited.

 

D.Obbard & Sons Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,194

750

Other creditors

(1)

-

1,193

750

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

75,700

77,105

8

Related party transactions

At the year end the company owed £75,700 (2023 - £ 77,105) to its subsidiary company. During the year the subsidiary company made payments of £6,479 and received income of £7,440 on behalf of the parent company.