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REGISTERED NUMBER: 00787046 (England and Wales)













Financial Statements

for the Year Ended 31 July 2024

for

J.Bradshaw & Sons Limited

J.Bradshaw & Sons Limited (Registered number: 00787046)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


J.Bradshaw & Sons Limited

Company Information
for the year ended 31 July 2024







DIRECTORS: Mr T C Bradshaw
Mr K B Garner



SECRETARY: Mr K B Garner



REGISTERED OFFICE: Sturton by Stow
LINCOLN
Lincolnshire
LN1 2BX



REGISTERED NUMBER: 00787046 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: Lloyds Bank Plc
202 High Street
LINCOLN
LN5 7AP

J.Bradshaw & Sons Limited (Registered number: 00787046)

Abridged Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,068 6,324
Tangible assets 5 2,340,000 1,494,800
2,351,068 1,501,124

CURRENT ASSETS
Stocks 74,760 69,576
Debtors 1,001,179 899,556
Cash at bank and in hand 5,301 131,447
1,081,240 1,100,579
CREDITORS
Amounts falling due within one year 1,072,563 634,198
NET CURRENT ASSETS 8,677 466,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,359,745

1,967,505

CREDITORS
Amounts falling due after more than
one year

461,881

302,462
NET ASSETS 1,897,864 1,665,043

CAPITAL AND RESERVES
Called up share capital 8,750 8,750
Revaluation reserve 7 385,508 -
Retained earnings 1,503,606 1,656,293
SHAREHOLDERS' FUNDS 1,897,864 1,665,043

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.Bradshaw & Sons Limited (Registered number: 00787046)

Abridged Balance Sheet - continued
31 July 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 February 2025 and were signed on its behalf by:





Mr T C Bradshaw - Director


J.Bradshaw & Sons Limited (Registered number: 00787046)

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

1. STATUTORY INFORMATION

J.Bradshaw & Sons 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 as modified by the revaluation of certain assets.

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

Intangible assets
Computer software is being amortised at 25% on reducing balance.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation net of depreciation. No depreciation has been provided on freehold property as it is valued in the financial statements at an amount equivalent to the likely disposal proceeds.

Depreciation on other tangible assets is provided at the following annual rates to write off the asset over it's estimated useful life or, if held under a finance lease, over the lease term whichever is shorter.

Plant and machinery - 33% on cost, 30% on reducing balance and 15% on reducing balance

Fixtures and fittings - 25% on reducing balance

Motor vehicles - Various rates which consider the age of the vehicle when purchased and estimated residual value. Depreciation is phased to account for strong values in three years after purchase with a forecast period of seven years ownership.

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

J.Bradshaw & Sons Limited (Registered number: 00787046)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measures at the present value of future payments, discounted at a market rate of interest.

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

J.Bradshaw & Sons Limited (Registered number: 00787046)

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

2. ACCOUNTING POLICIES - continued

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 AND DIRECTORS

The average number of employees during the year was 41 (2023 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023 6,600
Additions 7,825
At 31 July 2024 14,425
AMORTISATION
At 1 August 2023 276
Amortisation for year 3,081
At 31 July 2024 3,357
NET BOOK VALUE

At 31 July 2024 11,068
At 31 July 2023 6,324

J.Bradshaw & Sons Limited (Registered number: 00787046)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 August 2023 4,291,112
Additions 777,277
Disposals (431,992 )
Revaluations 385,508
At 31 July 2024 5,021,905
DEPRECIATION
At 1 August 2023 2,796,312
Charge for year 286,193
Eliminated on disposal (371,561 )
Revaluation adjustments (29,039 )
At 31 July 2024 2,681,905
NET BOOK VALUE
At 31 July 2024 2,340,000
At 31 July 2023 1,494,800

Cost or valuation at 31 July 2024 is represented by:

Totals
£   
Valuation in 2024 385,508
Cost 4,636,397
5,021,905

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 114,492 -
Aggregate depreciation 29,039 -

Value of land in freehold land and buildings 500,000 -

Freehold land and buildings were valued on an open market basis on 18 November 2024 by the directors .

J.Bradshaw & Sons Limited (Registered number: 00787046)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST OR VALUATION
At 1 August 2023 513,000
Additions 383,861
Reclassification/transfer (95,000 )
At 31 July 2024 801,861
DEPRECIATION
At 1 August 2023 38,323
Charge for year 31,643
Reclassification/transfer (28,240 )
At 31 July 2024 41,726
NET BOOK VALUE
At 31 July 2024 760,135
At 31 July 2023 474,677

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 576,377 542,565
Invoice discounting 367,576 -
943,953 542,565

The borrowings are secured on the assets to which they relate.

7. RESERVES
Revaluation
reserve
£   
Revaluation reserve 385,508

At 31 July 2024 385,508

J.Bradshaw & Sons Limited (Registered number: 00787046)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mr T C Bradshaw
Balance outstanding at start of year 80,804 -
Amounts advanced 26,255 80,804
Amounts repaid (105,804 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,255 80,804

The maximum balance outstanding during the year was £106,382 (2023: £130,010). The loan is unsecured and interest is charged on the overdrawn balance at a rate of 2.25%.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in loans is an amount owing to J.C.M Glassford (Holdings) Limited of £143,104 (2023 £nil), a company in which the director Mr TC Bradshaw has a controlling interest.