Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00796908 2023-04-01 2024-03-31 00796908 2022-04-01 2023-03-31 00796908 2024-03-31 00796908 2023-03-31 00796908 c:Director2 2023-04-01 2024-03-31 00796908 d:Buildings 2023-04-01 2024-03-31 00796908 d:Buildings 2024-03-31 00796908 d:Buildings 2023-03-31 00796908 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00796908 d:PlantMachinery 2023-04-01 2024-03-31 00796908 d:PlantMachinery 2024-03-31 00796908 d:PlantMachinery 2023-03-31 00796908 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00796908 d:MotorVehicles 2023-04-01 2024-03-31 00796908 d:OfficeEquipment 2023-04-01 2024-03-31 00796908 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00796908 d:CurrentFinancialInstruments 2024-03-31 00796908 d:CurrentFinancialInstruments 2023-03-31 00796908 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00796908 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00796908 d:ShareCapital 2024-03-31 00796908 d:ShareCapital 2023-03-31 00796908 d:RetainedEarningsAccumulatedLosses 2024-03-31 00796908 d:RetainedEarningsAccumulatedLosses 2023-03-31 00796908 c:OrdinaryShareClass1 2023-04-01 2024-03-31 00796908 c:OrdinaryShareClass1 2024-03-31 00796908 c:OrdinaryShareClass1 2023-03-31 00796908 c:FRS102 2023-04-01 2024-03-31 00796908 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00796908 c:FullAccounts 2023-04-01 2024-03-31 00796908 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00796908 2 2023-04-01 2024-03-31 00796908 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 00796908 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 00796908 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 00796908









M.A. RICE & SON LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
M.A. RICE & SON LIMITED
REGISTERED NUMBER: 00796908

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
538,040
537,400

Current assets
  

Stocks
  
93,884
18,081

Debtors: amounts falling due within one year
 5 
84,139
30,965

Cash at bank
  
636,876
650,883

  
814,899
699,929

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(224,607)
(192,978)

Net current assets
  
 
 
590,292
 
 
506,951

Total assets less current liabilities
  
1,128,332
1,044,351

Provisions for liabilities
  

Deferred tax
  
(443)
-

  
 
 
(443)
 
 
-

Net assets
  
1,127,889
1,044,351


Capital and reserves
  

Called up share capital 
 8 
239,000
239,000

Profit and loss account
  
888,889
805,351

  
1,127,889
1,044,351


Page 1

 
M.A. RICE & SON LIMITED
REGISTERED NUMBER: 00796908

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
Mrs C F Warner
Director

Date: 29 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
M.A. RICE & SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

M.A. Rice & Son Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 4 Crofton Manor, Derby Road, Haslemere, Surrey, GU27 1FB. The Company is not part of a group. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
M.A. RICE & SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold land
-
not depreciated
Implements
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis.

The deemed cost of harvested crops is based on 75% of its expected sales value in accordance with BEN19.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 4

 
M.A. RICE & SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
M.A. RICE & SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


TANGIBLE FIXED ASSETS





Freehold property
Plant & machinery
Total

£
£
£



Cost


At 1 April 2023
535,351
15,341
550,692


Additions
-
1,115
1,115



At 31 March 2024

535,351
16,456
551,807



Depreciation


At 1 April 2023
-
13,292
13,292


Charge for the year on owned assets
-
475
475



At 31 March 2024

-
13,767
13,767



Net book value



At 31 March 2024
535,351
2,689
538,040



At 31 March 2023
535,351
2,049
537,400


5.


DEBTORS

2024
2023
£
£


Trade debtors
28,786
4,365

Other debtors
53,657
24,991

Prepayments
1,696
1,609

84,139
30,965



6.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Trade creditors
169,641
148,102

Other taxation and social security
26,299
15,513

Other creditors
23,467
25,004

Accruals
5,200
4,359

224,607
192,978


Page 6

 
M.A. RICE & SON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


DEFERRED TAXATION




2024


£






Charged to profit or loss
(443)



At end of year
(443)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(443)
-


8.


SHARE CAPITAL

2024
2023
£
£
Allotted, called up and fully paid



239,000 (2023 - 239,000) Ordinary shares of £1.00 each
239,000
239,000



9.


RELATED PARTY TRANSACTIONS

During the year the Company operated a loan with the directors of the Company. The amount payable to  the directors of the Company at the year end was £23,469 (2023 - £25,004). This loan is interest free and repayable on demand.


Page 7