D Obbard & Sons (Trading) Limited 03321922 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 farmers and growers. The renting out of farm buildings is now a significant part of the company's business. Digita Accounts Production Advanced 6.30.9574.0 true true 03321922 2023-04-01 2024-03-31 03321922 2024-03-31 03321922 core:RetainedEarningsAccumulatedLosses 2024-03-31 03321922 core:ShareCapital 2024-03-31 03321922 core:CurrentFinancialInstruments 2024-03-31 03321922 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03321922 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 03321922 core:OtherPropertyPlantEquipment 2024-03-31 03321922 bus:SmallEntities 2023-04-01 2024-03-31 03321922 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03321922 bus:FilletedAccounts 2023-04-01 2024-03-31 03321922 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03321922 bus:RegisteredOffice 2023-04-01 2024-03-31 03321922 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 03321922 bus:Director1 2023-04-01 2024-03-31 03321922 bus:Director3 2023-04-01 2024-03-31 03321922 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03321922 core:Goodwill 2023-04-01 2024-03-31 03321922 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03321922 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 03321922 core:VehiclesPlantMachinery 2023-04-01 2024-03-31 03321922 countries:AllCountries 2023-04-01 2024-03-31 03321922 2023-03-31 03321922 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 03321922 core:OtherPropertyPlantEquipment 2023-03-31 03321922 2022-04-01 2023-03-31 03321922 2023-03-31 03321922 core:RetainedEarningsAccumulatedLosses 2023-03-31 03321922 core:ShareCapital 2023-03-31 03321922 core:CurrentFinancialInstruments 2023-03-31 03321922 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03321922 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 03321922 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 03321922

D Obbard & Sons (Trading) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

D Obbard & Sons (Trading) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

D Obbard & Sons (Trading) Limited

Company Information

Directors

S C Obbard

K D 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 (Trading) Limited

(Registration number: 03321922)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

1

1

Tangible assets

4

80,819

80,644

 

80,820

80,645

Current assets

 

Stocks

5

200

200

Debtors

6

77,926

79,355

Cash at bank and in hand

 

13,809

9,806

 

91,935

89,361

Creditors: Amounts falling due within one year

7

(125,609)

(125,696)

Net current liabilities

 

(33,674)

(36,335)

Net assets

 

47,146

44,310

Capital and reserves

 

Called up share capital

1

1

Retained earnings

47,145

44,309

Shareholders' funds

 

47,146

44,310

 

D Obbard & Sons (Trading) Limited

(Registration number: 03321922)
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 (Trading) 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 England & Wales.

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 (Trading) Limited

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

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

Vehicles, plant & machinery

25% RB

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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 merchandise sold 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.

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.

 

D Obbard & Sons (Trading) Limited

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

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.

3

Staff numbers

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

4

Tangible assets

Land and buildings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 April 2023

80,641

1,664

82,305

Additions

-

235

235

At 31 March 2024

80,641

1,899

82,540

Depreciation

At 1 April 2023

-

1,661

1,661

Charge for the year

-

60

60

At 31 March 2024

-

1,721

1,721

Carrying amount

At 31 March 2024

80,641

178

80,819

At 31 March 2023

80,641

3

80,644

Included within the net book value of land and buildings above is £80,641 (2023 - £80,641) in respect of freehold land and buildings.
 

 

D Obbard & Sons (Trading) Limited

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

5

Stocks

2024
£

2023
£

Other inventories

200

200

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

8

75,700

77,105

Other debtors

 

198

220

Prepayments

 

2,028

2,030

 

77,926

79,355

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

271

59

Accruals and deferred income

945

1,244

Other creditors

124,393

124,393

125,609

125,696

8

Related party transactions

The company's immediate parent is D. Obbard & Sons Limited, incorporated in United Kingdom.
 

At the Balance Sheet date, the company was owed £75,700 (2023: £77,105) by its parent.