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REGISTERED NUMBER: 07663256 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

J A & D M GLOVER & SON LIMITED

J A & D M GLOVER & SON LIMITED (REGISTERED NUMBER: 07663256)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J A & D M GLOVER & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs D M Glover
M Glover





REGISTERED OFFICE: Park Lane Farm
Park Lane
High Offley
Staffordshire
ST20 0NB





REGISTERED NUMBER: 07663256 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

J A & D M GLOVER & SON LIMITED (REGISTERED NUMBER: 07663256)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 42,000 42,000
Tangible assets 5 530,467 527,592
572,467 569,592

CURRENT ASSETS
Stocks 318,188 330,000
Debtors 6 149,715 110,319
Cash at bank and in hand 38,792 11,630
506,695 451,949
CREDITORS
Amounts falling due within one year 7 593,018 608,300
NET CURRENT LIABILITIES (86,323 ) (156,351 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

486,144

413,241

CREDITORS
Amounts falling due after more than one
year

8

(107,113

)

(159,177

)

PROVISIONS FOR LIABILITIES (117,023 ) (87,788 )
NET ASSETS 262,008 166,276

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 261,998 166,266
SHAREHOLDERS' FUNDS 262,008 166,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 A & D M GLOVER & SON LIMITED (REGISTERED NUMBER: 07663256)

BALANCE SHEET - continued
30 JUNE 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





M Glover - Director


J A & D M GLOVER & SON LIMITED (REGISTERED NUMBER: 07663256)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

J A & D M Glover & 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.

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

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.
Freehold property - 2% straight line
Plant and machinery - 15% reducing balance
Motor vehicles - 15 - 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
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.

J A & D M GLOVER & SON LIMITED (REGISTERED NUMBER: 07663256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. EMPLOYEES

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 42,000
NET BOOK VALUE
At 30 June 2024 42,000
At 30 June 2023 42,000

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 July 2023 103,758 787,908 201,749 1,093,415
Additions - 37,949 44,000 81,949
Disposals - - (36,000 ) (36,000 )
At 30 June 2024 103,758 825,857 209,749 1,139,364
DEPRECIATION
At 1 July 2023 19,850 485,022 60,951 565,823
Charge for year 2,075 48,541 21,196 71,812
Eliminated on disposal - - (28,738 ) (28,738 )
At 30 June 2024 21,925 533,563 53,409 608,897
NET BOOK VALUE
At 30 June 2024 81,833 292,294 156,340 530,467
At 30 June 2023 83,908 302,886 140,798 527,592

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 116,426 62,812
Other debtors 33,289 47,507
149,715 110,319

J A & D M GLOVER & SON LIMITED (REGISTERED NUMBER: 07663256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts (see note 9) 68,748 58,983
Trade creditors 222,117 170,668
Taxation and social security 2,251 -
Other creditors 294,346 373,093
593,018 608,300

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 29,164 34,722
Hire purchase contracts (see note 9) 77,949 124,455
107,113 159,177

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 68,748 58,983
Between one and five years 77,949 124,455
146,697 183,438

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 14,940

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have a given a personal guarantee of £120,000 in respect of the overdraft facility.