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REGISTERED NUMBER: 09564658 (England and Wales)













HJ & JD Duthie Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






HJ & JD Duthie Limited (Registered number: 09564658)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


HJ & JD Duthie Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: HJ Duthie
JD Duthie





REGISTERED OFFICE: Porch Farm
Weston-under-Penyard
Ross-on-Wye
Herefordshire
HR9 7PG





REGISTERED NUMBER: 09564658 (England and Wales)





ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
HJ & JD Duthie Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HJ & JD Duthie Limited for the year ended 31 August 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of HJ & JD Duthie Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of HJ & JD Duthie Limited and state those matters that we have agreed to state to the Board of Directors of HJ & JD Duthie Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HJ & JD Duthie Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that HJ & JD Duthie Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of HJ & JD Duthie Limited. You consider that HJ & JD Duthie Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of HJ & JD Duthie Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


10 February 2025

HJ & JD Duthie Limited (Registered number: 09564658)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,096,224 1,161,022
Investment property 5 600,000 500,000
1,696,224 1,661,022

CURRENT ASSETS
Stocks 375,203 282,979
Debtors 6 114,195 312,952
Cash at bank 151,036 47,474
640,434 643,405
CREDITORS
Amounts falling due within one year 7 595,999 665,408
NET CURRENT ASSETS/(LIABILITIES) 44,435 (22,003 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,740,659

1,639,019

CREDITORS
Amounts falling due after more than one
year

8

(283,235

)

(581,139

)

PROVISIONS FOR LIABILITIES 10 (170,939 ) (149,572 )
NET ASSETS 1,286,485 908,308

CAPITAL AND RESERVES
Allotted, issued and fully
paid share capital 1,000 1,000
Fair value reserve 11 127,475 60,494
Retained earnings 1,158,010 846,814
SHAREHOLDERS' FUNDS 1,286,485 908,308

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

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

HJ & JD Duthie Limited (Registered number: 09564658)

Balance Sheet - continued
31 August 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 for issue by the Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by:





HJ Duthie - Director


HJ & JD Duthie Limited (Registered number: 09564658)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

HJ & JD Duthie Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office 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 as modified by the revaluation of certain assets.

The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the 12 months from the approval of these accounts. The directors therefore consider it appropriate to prepare the accounts on the going concern basis.

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
Land and buildings - not provided
Improvements to property - 4% on cost
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The company owns chickens for egg production which are regarded as biological assets. These are depreciated on a straight line basis over their useful life on the farm of 60 weeks.

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.


HJ & JD Duthie Limited (Registered number: 09564658)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Land and to Plant and Motor
buildings property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 54,008 476,106 1,622,761 - 2,152,875
Additions - - 5,132 35,481 40,613
At 31 August 2024 54,008 476,106 1,627,893 35,481 2,193,488
DEPRECIATION
At 1 September 2023 - 138,917 852,936 - 991,853
Charge for year - 19,044 77,496 8,871 105,411
At 31 August 2024 - 157,961 930,432 8,871 1,097,264
NET BOOK VALUE
At 31 August 2024 54,008 318,145 697,461 26,610 1,096,224
At 31 August 2023 54,008 337,189 769,825 - 1,161,022

Included in cost of land and buildings is freehold land of £ 54,008 (2023 - £ 52,710 ) which is not depreciated.

HJ & JD Duthie Limited (Registered number: 09564658)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 500,000
Additions 10,692
Revaluations 89,308
At 31 August 2024 600,000
NET BOOK VALUE
At 31 August 2024 600,000
At 31 August 2023 500,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2021 1,280
Valuation in 2023 78,678
Valuation in 2024 89,308
Cost 430,734
600,000

The Investment Property was revalued by the directors and reflects the market value of the property.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 112,436 307,097
Prepayments and accrued income 1,061 5,000
VAT 698 855
114,195 312,952

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 49,000 166,000
Trade creditors 71,959 81,044
Corporation tax payable 150,459 69,761
Directors' current accounts 320,472 344,410
Accruals and deferred income 4,109 4,193
595,999 665,408

HJ & JD Duthie Limited (Registered number: 09564658)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 50,000 132,406
Bank loans - 2-5 years 156,000 306,768
Bank loans more than 5 years
by instalment 63,116 126,277
Accruals and deferred income 14,119 15,688
283,235 581,139

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalment 63,116 126,277
63,116 126,277

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 318,116 731,451

The AMC loan is secured by a charge over 233 acres of land at Overton, Brampton Abbots; this is owned by HJ & JD Duthie and 1 and 2 Porch Cottages which are owned by the company.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 129,148 130,108
Investment property valuation 41,791 19,464
170,939 149,572

Deferred
tax
£   
Balance at 1 September 2023 149,572
Provided during year 21,367
Balance at 31 August 2024 170,939

HJ & JD Duthie Limited (Registered number: 09564658)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


11. RESERVES
Fair
value
reserve
£   
At 1 September 2023 60,494
Investment property valuation 89,308
Deferred tax (22,327 )

At 31 August 2024 127,475