Ambershire Limited
Annual Report and Financial Statements
For the year ended 1 May 2024
Company Registration No. 01247781 (England and Wales)
AMBERSHIRE LIMITED
Ambershire Limited
COMPANY INFORMATION
Directors
Mr W J Jerram
Mr J M Jerram
Secretary
Mrs C E Jerram
Company number
01247781
Registered office
Easter Hall
Aythorpe Roding
Dunmow
Essex
CM6 1PE
Auditor
Knights Lowe Limited
Eldo House
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR
AMBERSHIRE LIMITED
Ambershire Limited
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Profit and loss account
6
Balance sheet
7
Statement of changes in equity
8
Notes to the financial statements
9 - 16
AMBERSHIRE LIMITED
Ambershire Limited
DIRECTORS' REPORT
FOR THE YEAR ENDED 1 MAY 2024
- 1 -
The directors present their annual report and financial statements for the year ended 1 May 2024.
Principal activities
The principal activities of the company continued to be that of farming, liveries, Christmas products and document archiving.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr W J Jerram
Mr J M Jerram
Auditor
The auditors, Knights Lowe Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
By order of the board
Mrs C E Jerram
Secretary
30 January 2025
AMBERSHIRE LIMITED
Ambershire Limited
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 1 MAY 2024
- 2 -
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
AMBERSHIRE LIMITED
Ambershire Limited
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF AMBERSHIRE LIMITED
- 3 -
Opinion
We have audited the financial statements of Ambershire Limited (the 'company') for the year ended 1 May 2024 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 1 May 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors' report has been prepared in accordance with applicable legal requirements.
AMBERSHIRE LIMITED
Ambershire Limited
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AMBERSHIRE LIMITED
- 4 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our risk assessment procedures included
Inquiring with officers of the company’s high-level policies and procedures to prevent and detect fraud, as well as whether they have any knowledge of any actual, suspected or alleged fraud.
Using analytical procedures to identify any unusual or unexplained relationships.
Assess significant accounting estimates for bias.
Identify journal entries and other adjustments to test based on risk criteria and compare the identified risk with supporting documentation
In determining the audit procedures we took into account the results of our evaluation and testing of the operating effectiveness of risk management controls.
We did not identify any additional fraud risks.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
AMBERSHIRE LIMITED
Ambershire Limited
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AMBERSHIRE LIMITED
- 5 -
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr James Knights BSc ACA (Senior Statutory Auditor)
For and on behalf of Knights Lowe Limited
31 January 2025
Chartered Accountants
Statutory Auditor
Eldo House
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR
AMBERSHIRE LIMITED
Ambershire Limited
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 1 MAY 2024
- 6 -
2024
2023
Notes
£
£
Turnover
1,138,776
1,218,640
Cost of sales
(824,574)
(790,174)
Gross profit
314,202
428,466
Administrative expenses
(478,021)
(438,424)
Other operating income
32,688
36,661
Operating (loss)/profit
(131,131)
26,703
Interest receivable and similar income
1,320
Interest payable and similar expenses
(1,689)
(369)
(Loss)/profit before taxation
(131,500)
26,334
Tax on (loss)/profit
3
7,884
(7,884)
(Loss)/profit for the financial year
(123,616)
18,450
The profit and loss account has been prepared on the basis that all operations are continuing operations.
AMBERSHIRE LIMITED
Ambershire Limited
BALANCE SHEET
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
1,510,696
1,505,343
Investments
6
100
100
1,510,796
1,505,443
Current assets
Stocks
158,327
224,628
Debtors
7
234,241
222,372
Cash at bank and in hand
665,347
760,743
1,057,915
1,207,743
Creditors: amounts falling due within one year
8
(627,781)
(648,640)
Net current assets
430,134
559,103
Total assets less current liabilities
1,940,930
2,064,546
Provisions for liabilities
(176,997)
(176,997)
Net assets
1,763,933
1,887,549
Capital and reserves
Called up share capital
100
100
Revaluation reserve
850,919
850,919
Profit and loss reserves
912,914
1,036,530
Total equity
1,763,933
1,887,549
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Mr J M Jerram
Director
Company registration number 01247781 (England and Wales)
AMBERSHIRE LIMITED
Ambershire Limited
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 1 MAY 2024
- 8 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 2 May 2022
100
976,745
892,254
1,869,099
Year ended 1 May 2023:
Profit for the year
-
-
18,450
18,450
Other comprehensive income:
Tax relating to other comprehensive income
-
(56,826)
(56,826)
Total comprehensive income for the year
-
(56,826)
18,450
(38,376)
Transfers
-
125,826
125,826
Other
-
(69,000)
-
(69,000)
Balance at 1 May 2023
100
850,919
1,036,530
1,887,549
Year ended 1 May 2024:
Loss and total comprehensive income for the year
-
-
(123,616)
(123,616)
Balance at 1 May 2024
100
850,919
912,914
1,763,933
AMBERSHIRE LIMITED
Ambershire Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 MAY 2024
- 9 -
1
Accounting policies
Company information
Ambershire Limited is a private company limited by shares incorporated in England and Wales. The registered office is Easter Hall, Aythorpe Roding, Dunmow, Essex, CM6 1PE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
AMBERSHIRE LIMITED
Ambershire Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 1 MAY 2024
1
Accounting policies
(Continued)
- 10 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Nil
Improvements
10% straight line
Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
20% reducing balance
Office equipment
30% reducing balance
Motor vehicles
25% reducing balance
Tractors
20% reducing balance
Horse equipment
15% reducing balance
Horse buildings
10% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
The farmhouse is maintained in good condition and for that reason, no depreciation is charged on the freehold buildings.
Deferred tax has been calculated on the revaluation of the freehold property, but deferred tax has not been calculated on the other fixed assets included in the accounts.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
AMBERSHIRE LIMITED
Ambershire Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 1 MAY 2024
1
Accounting policies
(Continued)
- 11 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
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 balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
AMBERSHIRE LIMITED
Ambershire Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 1 MAY 2024
1
Accounting policies
(Continued)
- 12 -
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 10 (2023 - 9).
2024
2023
Number
Number
Total
10
9
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
(7,884)
7,884
AMBERSHIRE LIMITED
Ambershire Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 1 MAY 2024
- 13 -
4
Intangible fixed assets
Other
£
Cost
At 2 May 2023 and 1 May 2024
13,764
Amortisation and impairment
At 2 May 2023 and 1 May 2024
13,764
Carrying amount
At 1 May 2024
At 1 May 2023
AMBERSHIRE LIMITED
Ambershire Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 1 MAY 2024
- 14 -
5
Tangible fixed assets
Land and buildings Freehold
Improvements
Plant and machinery
Fixtures, fittings & equipment
Office equipment
Motor vehicles
Tractors
Horse equipment
Horse buildings
Total
£
£
£
£
£
£
£
£
£
£
Cost or valuation
At 2 May 2023
1,425,000
35,863
203,912
10,752
5,558
10,650
8,250
80,836
26,000
1,806,821
Additions
2,228
1,585
10,750
12,174
-
26,737
Disposals
(22,160)
(1,036)
(3,666)
-
(26,862)
At 1 May 2024
1,425,000
35,863
181,752
11,944
3,477
10,650
19,000
93,010
26,000
1,806,696
Depreciation and impairment
At 2 May 2023
19,905
150,191
10,568
4,006
10,616
8,179
72,013
26,000
301,478
Depreciation charged in the year
2,814
10,515
481
873
9
2,164
3,150
-
20,006
Eliminated in respect of disposals
(21,016)
(1,029)
(3,439)
-
(25,484)
At 1 May 2024
22,719
139,690
10,020
1,440
10,625
10,343
75,163
26,000
296,000
Carrying amount
At 1 May 2024
1,425,000
13,144
42,062
1,924
2,037
25
8,657
17,847
-
1,510,696
At 1 May 2023
1,425,000
15,958
53,721
184
1,552
34
71
8,823
-
1,505,343
AMBERSHIRE LIMITED
Ambershire Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 1 MAY 2024
- 15 -
The land and buildings were valued by the Directors' on 01 May 2024 at £1,425,000 which is consistent with market values.
If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:
2024
2023
£
£
Cost
397,804
397,804
Accumulated depreciation
(217,252)
(210,913)
Carrying value
180,552
186,891
6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
100
100
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
67,286
70,612
Corporation tax recoverable
7,884
Amounts owed by group undertakings and related parties
125,101
119,041
Other debtors
33,970
32,719
234,241
222,372
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
23,569
21,934
Amounts owed to group undertakings
495,572
495,891
Taxation and social security
3,716
3,263
Amounts due to related party
-
884
Other creditors
104,924
126,668
627,781
648,640
AMBERSHIRE LIMITED
Ambershire Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 1 MAY 2024
- 16 -
9
Revaluation reserve
2024
2023
£
£
At the beginning of the year
850,919
976,745
Deferred tax on revaluation of tangible assets
-
(56,826)
Other movements
-
(69,000)
At the end of the year
850,919
850,919
10
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Sale of goods
Purchase of goods
2024
2023
2024
2023
£
£
£
£
Jerram Falkus Construction Limited
4,325
5,040
4,320
-
Michael Jerram
18,830
21,478
1,241
2,001
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts owed to related parties
£
£
Jerram Falkus Construction Limited (Note 8)
395,572
395,891
Michael Jerram (Note 8)
-
884
William J Jerram (Agricultural Investments) Limited (Note 8)
100,000
100,000
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts owed by related parties
£
£
Michael Jerram (Note 7)
6,060
-
Jerram Group Limited (Note 7)
119,041
119,041
11
Ultimate controlling party
The ultimate controlling party of the company is Jerram Group Limited as a result of their majority ownership of the company's share capital.
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