A. Tucker & Son Ltd 05623951 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Provision of animal feed Digita Accounts Production Advanced 6.30.9574.0 true true 05623951 2023-03-01 2024-02-29 05623951 2024-02-29 05623951 bus:OrdinaryShareClass1 2024-02-29 05623951 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-02-29 05623951 core:CurrentFinancialInstruments 2024-02-29 05623951 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 05623951 core:FurnitureFittingsToolsEquipment 2024-02-29 05623951 core:MotorVehicles 2024-02-29 05623951 core:OtherPropertyPlantEquipment 2024-02-29 05623951 bus:SmallEntities 2023-03-01 2024-02-29 05623951 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 05623951 bus:FullAccounts 2023-03-01 2024-02-29 05623951 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05623951 bus:RegisteredOffice 2023-03-01 2024-02-29 05623951 bus:Director2 2023-03-01 2024-02-29 05623951 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 05623951 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05623951 core:ComputerEquipment 2023-03-01 2024-02-29 05623951 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 05623951 core:MotorVehicles 2023-03-01 2024-02-29 05623951 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 05623951 core:PlantMachinery 2023-03-01 2024-02-29 05623951 core:Vehicles 2023-03-01 2024-02-29 05623951 countries:EnglandWales 2023-03-01 2024-02-29 05623951 2023-02-28 05623951 core:FurnitureFittingsToolsEquipment 2023-02-28 05623951 core:MotorVehicles 2023-02-28 05623951 core:OtherPropertyPlantEquipment 2023-02-28 05623951 2022-03-01 2023-02-28 05623951 2023-02-28 05623951 bus:OrdinaryShareClass1 2023-02-28 05623951 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-02-28 05623951 core:CurrentFinancialInstruments 2023-02-28 05623951 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 05623951 core:FurnitureFittingsToolsEquipment 2023-02-28 05623951 core:MotorVehicles 2023-02-28 05623951 core:OtherPropertyPlantEquipment 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05623951

A. Tucker & Son Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

A. Tucker & Son Ltd

(Registration number: 05623951)
Balance Sheet as at 29 February 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

5

1,734,146

1,279,089

Investment property

6

3,179,000

-

 

4,913,146

1,279,089

Current assets

 

Stocks

7

2,500

2,500

Debtors

8

2,350,584

3,000,354

Cash at bank and in hand

 

322,947

465,739

 

2,676,031

3,468,593

Creditors: Amounts falling due within one year

9

(3,560,145)

(2,083,749)

Net current (liabilities)/assets

 

(884,114)

1,384,844

Total assets less current liabilities

 

4,029,032

2,663,933

Provisions for liabilities

(654,707)

(311,389)

Net assets

 

3,374,325

2,352,544

Capital and reserves

 

Called up share capital

10

30

30

Retained earnings

3,374,295

2,352,514

Shareholders' funds

 

3,374,325

2,352,544

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

A. Tucker & Son Ltd

(Registration number: 05623951)
Balance Sheet as at 29 February 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 January 2025
 

.........................................
Richard Tucker
Director

 

A. Tucker & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Greenside Farm
Hawthorne Street
Shafton
Barnsley
Yorkshire
S72 8NT

These financial statements were authorised for issue by the director on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

A. Tucker & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% write down allowance

Plant and Machinery

20% write down allowance

Computer equipment

3 years straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

A. Tucker & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

A. Tucker & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 24 (2023 - 15).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

491,113

359,802

 

A. Tucker & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

7,182

1,162,053

1,837,015

3,006,250

Additions

-

928,201

230,596

1,158,797

Disposals

-

(346,500)

-

(346,500)

At 29 February 2024

7,182

1,743,754

2,067,611

3,818,547

Depreciation

At 1 March 2023

6,690

671,405

1,038,753

1,716,848

Charge for the year

98

288,805

205,772

494,675

Eliminated on disposal

-

(127,122)

-

(127,122)

At 29 February 2024

6,788

833,088

1,244,525

2,084,401

Carrying amount

At 29 February 2024

394

910,666

823,086

1,734,146

At 28 February 2023

492

480,335

798,262

1,279,089

6

Investment properties

2024
£

Additions

1,947,175

Fair value adjustments

1,231,825

At 29 February

3,179,000

There has been no valuation of investment property by an independent valuer.

7

Stocks

2024
£

2023
£

Other inventories

2,500

2,500

 

A. Tucker & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Debtors

Current

Note

2024
£

(As restated)

2023
£

Trade debtors

 

2,250,243

914,539

Amounts owed by related parties

-

661,417

Prepayments

 

41,314

-

Other debtors

 

59,027

1,424,398

   

2,350,584

3,000,354

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

95,833

464,948

Trade creditors

 

1,039,543

1,343,405

Taxation and social security

 

287,013

258,994

Accruals and deferred income

 

222,805

14,500

Other creditors

 

1,914,951

1,902

 

3,560,145

2,083,749

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

30

30

30

30

       

11

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

95,833

-

Other borrowings

-

464,948

95,833

464,948