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REGISTERED NUMBER: 00701875 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

John A Wells Limited

John A Wells Limited (Registered number: 00701875)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


John A Wells Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: J B Wells
Mrs J D Robinson
A R Robinson
M A Clifford
Ms L N Thompson





SECRETARY: J B Wells





REGISTERED OFFICE: Granary House
2 Wells Road
Edwalton
Nottingham
Nottinghamshire
NG12 4DR





REGISTERED NUMBER: 00701875 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

John A Wells Limited (Registered number: 00701875)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 44,299,129 44,299,129
Investments 5 462,911 462,911
44,762,040 44,762,040

CURRENT ASSETS
Inventories 6 464,523 891,251
Debtors 7 969,454 6,598,621
Investments 8 6,862,096 4,677,749
Cash at bank 28,044,492 19,921,066
36,340,565 32,088,687
CREDITORS
Amounts falling due within one year 9 4,469,250 2,008,819
NET CURRENT ASSETS 31,871,315 30,079,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,633,355

74,841,908

PROVISIONS FOR LIABILITIES 6,714,624 7,473,876
NET ASSETS 69,918,731 67,368,032

CAPITAL AND RESERVES
Called up share capital 11 1,000,000 1,000,000
Revaluation reserve 12 7,449,626 7,449,626
Retained earnings 61,469,105 58,918,406
SHAREHOLDERS' FUNDS 69,918,731 67,368,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

John A Wells Limited (Registered number: 00701875)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by:





J B Wells - Director


John A Wells Limited (Registered number: 00701875)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

John A Wells 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & buildings - not provided
Grain stores - not provided
Plant, machinery and equipment - 100% on cost
Motor vehicles - 100% on cost

No depreciation is provided on freehold property or grain stores, as the directors consider the market value of these assets to be in excess of their balance sheet carrying values. It is the company's policy to maintain these assets in a continual state of sound repair and to extend and make improvements thereto from time to time.

Accordingly the directors consider that the lives of these assets are so long and the residual values, based on prices prevailing at the time of acquisition, are so high that further depreciation is not appropriate. Any permanent diminution in the value of such assets is charged to the profit and loss account as it arises.

No depreciation is provided on freehold land.

Depreciation is provided at 100% of cost on plant, machinery equipment, and motor vehicles. This depreciation rate is as a result of the directors prudent assessment of such assets estimated useful economic life.

Stocks
Stock is valued at the cost of production.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


John A Wells Limited (Registered number: 00701875)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for its employees. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

Fixed asset investments
Investments in shares are included at cost less impairment.

Current asset investments
Investments in shares are included at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant,
machinery
Land & Grain and
buildings stores equipment
£    £    £   
COST
At 1 January 2024 40,714,185 4,039,574 13,539,104
Additions - - 873,341
Disposals - - (627,905 )
At 31 December 2024 40,714,185 4,039,574 13,784,540
DEPRECIATION
At 1 January 2024 32,661 421,969 13,539,104
Charge for year - - 873,341
Eliminated on disposal - - (627,905 )
At 31 December 2024 32,661 421,969 13,784,540
NET BOOK VALUE
At 31 December 2024 40,681,524 3,617,605 -
At 31 December 2023 40,681,524 3,617,605 -

John A Wells Limited (Registered number: 00701875)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 6,290 184,823 2,827 58,486,803
Additions 602 - 933 874,876
Disposals - - - (627,905 )
At 31 December 2024 6,892 184,823 3,760 58,733,774
DEPRECIATION
At 1 January 2024 6,290 184,823 2,827 14,187,674
Charge for year 602 - 933 874,876
Eliminated on disposal - - - (627,905 )
At 31 December 2024 6,892 184,823 3,760 14,434,645
NET BOOK VALUE
At 31 December 2024 - - - 44,299,129
At 31 December 2023 - - - 44,299,129

Included in cost of land and buildings is freehold land of £ 28,977,306 (2023 - £ 28,977,306 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 462,911
NET BOOK VALUE
At 31 December 2024 462,911
At 31 December 2023 462,911

The unlisted investments refer to:-

2024 2023
£ £


210,000 shares in Nottingham City Airport Limited 210,000 210,000
75,000 shares in Bradmore Business Park Limited 75,000 75,000
50,000 shares in Truman Aviation Limited 167,911 167,911
10,000 shares in Edwalton Properties Limited 10,000 10,000

462,911 462,911

John A Wells Limited (Registered number: 00701875)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

6. INVENTORIES
2024 2023
£    £   
Farm valuation 59,790 107,891
Grain stock 210,060 278,891
Sundry stocks 194,673 504,469
464,523 891,251

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 229,338 5,306,223
Amounts owed by group undertakings 662,472 1,139,342
PW Bird Time deposit - 50,000
Prepayments 77,644 103,056
969,454 6,598,621

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 6,862,096 4,677,749

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 121,110 103,497
Amounts owed to group undertakings 3,636,908 1,660,000
Corporation taxation 215,465 -
Social security and other taxes 7,060 7,357
VAT 21,526 11,162
Other creditors 8,722 8,332
Directors's loan accounts 458,459 218,471
4,469,250 2,008,819

John A Wells Limited (Registered number: 00701875)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   

A charge created 23 December 202 is outstanding with Rushcliffe Borough Council in relation to the overage agreement and associated overage payment.

A legal mortgage created on 26 May 2011 is outstanding for all monies due or to become due on any account to HSBC Bank plc. The fixed charge is over land at Tollerton and Ruddington, with the following title deed references: NT448179 and NT300564.

A legal charge created 8 March 2011 is outstanding for all monies due or to become due on any account to Barclays Bank plc. The charge is over land with the following title deeds references: NT292761, NT286271, NT67240, NT467713, NT349835, NT374647 and NT349266.

A deed of charge created 23 December 2005 is outstanding on all monies due or to become due to Rushcliffe Borough Council. The charge is over property and land to the North side of the A614 at Edwalton held in the title deed referenced NT28980, and land lying to the West of Melton Road at Edwalton held in the title referenced NT289182.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
975,000 Ordinary £1 975,000 975,000
25,000 Preference £1 25,000 25,000
1,000,000 1,000,000

The preference shares carry no voting rights and entitle shareholders to a maximum capital repayment of £1.

12. RESERVES
Revaluation
reserve
£   
At 1 January 2024
and 31 December 2024 7,449,626

13. CONTINGENT LIABILITIES

Banking facilities form part of a composite scheme with Edwalton Cereals Limited, Nottingham City Airport Limited and Bradmore Business Park Limited, where full set off is either allowed or charged to John A Wells Limited.

Edwalton Cereals Limited is a co-operative managed by J B Wells and is related by that virtue.

14. ULTIMATE CONTROLLING PARTY

J B Wells is a director and majority shareholder of John A Wells Limited and is the ultimate controlling party.