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REGISTERED NUMBER: NI009714 (Northern Ireland)














Unaudited Financial Statements

FOR THE YEAR ENDED

30 September 2024

for

JAMES WARD & SONS (N.I.) LIMITED

JAMES WARD & SONS (N.I.) LIMITED (REGISTERED NUMBER: NI009714)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAMES WARD & SONS (N.I.) LIMITED

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr D Ward
Mr J Ward
Mr H W Ward





SECRETARY: Mrs E Ward





REGISTERED OFFICE: Glen Farm
5 Glen Road
Hillsborough
Co. Down
BT26 6ES





REGISTERED NUMBER: NI009714 (Northern Ireland)





ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

JAMES WARD & SONS (N.I.) LIMITED (REGISTERED NUMBER: NI009714)

Balance Sheet
30 SEPTEMBER 2024

30/9/24 30/9/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,461,264 1,500,883

CURRENT ASSETS
Stocks 5 481,326 477,072
Debtors 6 90,888 69,624
Cash at bank 609,032 531,150
1,181,246 1,077,846
CREDITORS
Amounts falling due within one year 7 441,552 431,622
NET CURRENT ASSETS 739,694 646,224
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,200,958

2,147,107

PROVISIONS FOR LIABILITIES (108,632 ) (116,542 )

ACCRUALS AND DEFERRED INCOME (8,750 ) (9,854 )
NET ASSETS 2,083,576 2,020,711

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 2,078,576 2,015,711
SHAREHOLDERS' FUNDS 2,083,576 2,020,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

JAMES WARD & SONS (N.I.) LIMITED (REGISTERED NUMBER: NI009714)

Balance Sheet - continued
30 SEPTEMBER 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 12 March 2025 and were signed on its behalf by:





Mr J Ward - Director


JAMES WARD & SONS (N.I.) LIMITED (REGISTERED NUMBER: NI009714)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

James Ward & Sons (N.i.) Limited is a private company, limited by shares , registered in Northern Ireland. 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
The turnover shown in the profit and loss accounts represents the value of milk and livestock sales, and includes grants and subsidies.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings and drainage - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles and tractors - 25% on reducing balance

Stocks
Dairy cattle are valued on the herd basis.

Beef cattle are stated at their deemed cost which is calculated at 60% of their open market value.

Dry stock is valued at the lower of cost and net realisable value.

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.

JAMES WARD & SONS (N.I.) LIMITED (REGISTERED NUMBER: NI009714)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

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.

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.

Deferred government grants
Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful like of the assets to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Motor
Buildings vehicles
and Freehold Plant and and
drainage land machinery tractors Totals
£    £    £    £    £   
COST
At 1 October 2023 580,848 954,933 1,539,155 602,586 3,677,522
Additions - - 66,368 44,500 110,868
Disposals - - (7,750 ) - (7,750 )
At 30 September 2024 580,848 954,933 1,597,773 647,086 3,780,640
DEPRECIATION
At 1 October 2023 479,397 - 1,313,133 384,109 2,176,639
Charge for year 10,145 - 72,146 65,744 148,035
Eliminated on disposal - - (5,298 ) - (5,298 )
At 30 September 2024 489,542 - 1,379,981 449,853 2,319,376
NET BOOK VALUE
At 30 September 2024 91,306 954,933 217,792 197,233 1,461,264
At 30 September 2023 101,451 954,933 226,022 218,477 1,500,883

JAMES WARD & SONS (N.I.) LIMITED (REGISTERED NUMBER: NI009714)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. STOCKS
30/9/24 30/9/23
£    £   
Beef herd 302,462 299,613
Dairy herd 68,164 65,259
Dry stock 110,700 112,200
481,326 477,072

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade debtors 61,974 41,395
VAT 13,628 13,732
Prepayments and accrued income 15,286 14,497
90,888 69,624

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Corporation tax 60,589 63,036
PAYE and NIC 2,041 1,966
Directors' current accounts 362,547 354,215
Accruals and deferred income 16,375 12,405
441,552 431,622

8. RELATED PARTY TRANSACTIONS

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.

9. PENSIONS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. The pension cost charged in the accounts represents contributions paid by the company to the funds and amounted to £6,327 (2023: £6,256).